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MarketScreener Homepage  >  Equities  >  Wiener Boerse  >  Strabag SE    STR   AT000000STR1

STRABAG SE

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STRABAG : PFS acquires FM service provider Caverion Polska

12/19/2018 | 04:10am EST
STRABAG PFS Austria GmbH yesterday, Tuesday, signed the agreement for the acquisition of 100 % of the shares of Caverion Polska Sp. z o.o. of Warsaw, a Polish specialist in the field of technical facility management (TFM). The previous owner, Finland's Caverion Oyj, has chosen to withdraw from this market.

Caverion Polska, founded in 1993, has about 170 employees and in 2017 generated an output volume of around PLN 50 million (~ € 12 million). Of this amount, approximately 70 % are accounted for by TFM and 30 % by plant engineering.

'This acquisition broadens our service portfolio with additional technical competences in facility management in Poland, allowing us to efficiently service real estate portfolios across the country. We want to benefit from the dynamic Polish market. The output volume should continue to grow, especially as a lower percentage of such services has been outsourced to specialised providers in Poland as compared to greatly developed FM markets such as Germany or Austria,' says Thomas Birtel, CEO of publicly listed STRABAG SE.

The FM market in Poland is expected to grow by an average of 7 % a year over the next few years, well over the forecasts for saturated markets. STRABAG PFS currently holds a relatively small market share in the country, but this should double as a result of this transaction. The acquisition will catapult STRABAG PFS to one of the top 10 FM providers in Poland.

The transaction is pending cartel approval.

Disclaimer

Strabag SE published this content on 19 December 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 19 December 2018 09:09:06 UTC


© Publicnow 2018
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NameTitle
Thomas Birtel Chief Executive Officer
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