A UK-based private equity firm is in talks with Royal Imtech to acquire its Irish business and has expressed an interest in Imtech UK.
Royal Imtech’s trustees said the group was in “exclusive negotiations” with private equity firm Endless to acquire its shares in Imtech Suir Engineering Limited and its three subsidiaries.
They said Endless was also “interested in the activities” of Imtech UK.
Imtech Suir Engineering Limited subsidiaries are Imtech Suir MEC Limited, Imtech Suir Saoudi Arabia and Imtech Suir Quatar.
The Dutch parent group has also sold is shares in Imtech Industry International BV and Ventilex, including participations, to Techim BV.
Imtech Industry International BV and Ventilex have a combined headcount of 248 employees.
The trustees said the sale of Imtech Industry International BV has released enough funds to enable Imtech Nederland BV to carry out its shared services for its Benelux arm until 28 September.
This involves around 125 employees.
After 28 September, depending on the buyers, as many of these employees as possible will be transferred to the various Dutch operating companies up for sale, they added.
Trustee Jeroen Princen said: “We are hopeful that we can conclude the sale of divisions before next Monday.
“It is important that clients and employees have clarity as quickly as possible.
“We are working day and night and doing our utmost to make that happen.”
Royal Imtech filed for administration on 11 August after it was granted a suspension of payments at Rotterdam’s District Court.
The Dutch group approved the sale of its shares in Imtech Traffic & Infra and sold Imtech Marine and Imtech Nordic on 14 August.