The administration of Intrakat has recently been negotiating the acquisition of the construction company TEKAL, which has a construction diploma of the 6th category. According to sources closely following the talks, the parties are reportedly discussing individual details of the agreement, but it is not yet clear how far the talks have progressed and whether there will be white smoke.

However, Intrakat’s interest in strengthening its construction industry through acquisitions is clear, as it has also submitted a document of interest in acquiring Actor. In fact, according to certain market circles, the decision of Ellactor’s shareholders to enter into an exclusive negotiation agreement with the Wade Adams and D. Koutras scheme is likely to speed up negotiations between Intrakat and Mr. TEKAL, Panagiotis Psaltakos.

If an agreement is reached with TEKAL, Intrakat will significantly strengthen both its construction machinery and its know-how, as the company has considerable experience in port projects. In particular, it has built all the projects of the Chinese Cosco in the port of Piraeus, and today it is building two important projects for a total of 154 million euros. The largest of them, worth 103 million euros, concerns the expansion of the passenger port in Piraeus in order to increase the capacity to receive the most modern cruise ships. The second project worth 50.8 million euros concerns the reconstruction of the tourist port on behalf of Aster Marina Vouliagmeni. A total of 60 super and mega yachts will be docked at the marina.

Intrakat is looking to strengthen its construction industry through acquisitions.

During fiscal year 2021, TEKAL increased its turnover by 125% to 39.4 million euros from 17.5 million euros in 2020, but profitability came under pressure. In particular, net income after tax remained at a particularly low level of just €0.6 million, unchanged from 2020. At the same time, the company’s debt increased to 59 million euros from 37.7 million euros at the end of 2020, while equity stood at 23.4 million euros, slightly down from 24.5 million euros in fiscal 2020. .

At the same time, TEKAL was also involved in a number of important PPP projects, trying to expand into road and construction projects. In this context, it bids for a project to build and operate new courthouses in Serra, Kilkis, Thessaloniki and Edessa, a project worth some 120 million euros. At the same time, he participated in the tender of the Department of Infrastructure for the construction of a new building of the General Secretariat of Infrastructure on Piraeus Street. This is a project of about 140 million euros. However, TEKAL was excluded from the second stage of the competition.

As a reminder, Intrakat has completed a fully funded increase in its authorized capital in the amount of 100 million euros. Of these, about 50 million euros are supposed to be directed exclusively to the acquisition of other technical companies. As explained by the managing director of the company, Alexandros Exarchu, the goal is to acquire companies with an important construction site, a portfolio of profitable projects and high specialization. In fact, besides TEKAL, it is assumed that the target is another company, this time in Romania.