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Strabag takes over Caverion

Alex Hayes 19 December 2018

Alex Hayes

Journalist

+48 22 356 25 20
alex.hayes@eurobuildcee.com

Alexander Hayes is currently working as a journalist for Eurobuild Central & Eastern Europe magazine. Originally from the UK, he moved to Poland in 1995 and has been working in real estate for over four years. He has a BA in english literature from the University of Buckingham.

Strabag takes over Caverion
The deal is subject to the approval of the Polish competition authorities
POLAND Strabag has signed an agreement to acquire all of the shares of facility management company Caverion Polska from Caverion Oyj, which has chosen to withdraw from Poland. The sales price has not been disclosed.

Caverion has been operating in Poland since 1993 and has around 170 employees with revenues in 2017 of around PLN 50 mln.

“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 fast-growing Polish market,” says Thomas Birtel, the CEO of Strabag.

Strabag expects the facility management market in Poland to grow by an average of 7 pct a year for the next few years, which is a much higher rate than in Strabag’s home markets in Austria and Germany. The deal, which is subject to the approval of the Polish competition authorities, will double the size of Strabag’s facility management business in Poland, making it one of the top ten providers in the country.

“Poland has not been a very significant market for Caverion and we have been a small player in the country. Divesting our subsidiary in Poland is a part of our strategy to improve our financial performance and focus on our core businesses in our main market areas. With the new owner, the company's operations in Poland have a good chance to develop and we wish them all the best in the future,” says Ari Lehtoranta, CEO of Caverion.

The transaction is expected to be completed in Q1 2019.


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