International trading company Pon Holdings and private equity fund Parcom Capital have reached an agreement to acquire Dutch marine technology company Imtech Marine.
This new development follows the declaration of Imtech Marine’s parent company Royal Imtech as bankrupt.
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Imtech marine global services director René ten Brinke said: "We are extremely happy with Pon Holdings and Parcom Capital as the new ‘owners’ of Imtech Marine.
"This new ownership aligns perfectly with the positive developments that have already been set in motion within Imtech Marine and will also further strengthen and accelerate growth of our business."
A statement from Royal Imtech earlier said that the Rotterdam District Court has declared Royal Imtech bankrupt.
The sale of Imtech Marine is a result of two years of financial crisis caused by accounting fraud at its Polish and German units, Reuters reported.
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By GlobalDataMeanwhile, Royal Imtech is also in the process of selling its Nordic division.
The sale of these Marine and Nordic divisions is expected to save 7,300 jobs, the company stated.
Imtech Marine operates as a full-service provider and system integrator of innovative and sustainable technology solutions covering the whole ship.
Currently, the company employs around 2,500 people at almost 100 offices in 30 countries. After completing the takeover processes, Imtech Marine will be operating independently.
In May, Imtech Marine received a contract to supply the electric and hybrid propulsion system for Scotland-based Caledonian Maritime Assets (CMAL) operated hybrid ferry.
Under the terms of the contract, Imtech Marine will carry out electrical installation for the third hybrid ferry, which is due to be delivered in April 2016.
