Following the approval of the Competition Council for the companies Sail Invest and Civinity to implement the concentration, the latter will surely take the second place in the market of maintenance of commercial buildings in Lithuania.
Through SPV-31, a company jointly controlled by Civinity and Sail Invest, these companies will be able to complete 100% of the shares. acquisition of shares in Inservis, Jurita, Priemiestis and SIA Inservis registered in Latvia.
Inservis companies provide administration of multifunctional buildings and apartment buildings, maintenance of engineering systems and territories, and other building management services. Inservis group of companies operates in Lithuania and Latvia, the total supervised area exceeds 2.5 million. square meters. According to the publicly announced corporate data for 2020, Civinity will surely take the second place in the commercial building maintenance market after the latest acquisitions.
“We believed that the Competition Council would approve this transaction and authorize the acquisition of shares in Inservis Group companies. By combining the capabilities of Civinity and Inservis, we are consistently implementing our planned development plans, optimizing our businesses and moving confidently towards a whole new level of quality building maintenance. The goal of all these changes is to improve the quality of service to improve the quality of life and work for our customers, ”says David Jacka, Chairman and CEO of Civinity.
About Inservis group of companies
Since 2004 providing building management, maintenance of engineering systems, multi-apartment administration, technical audit and troubleshooting, indoor air quality testing, cleaning, site maintenance and other building maintenance services. Inservis group of companies operates in Lithuania and Latvia, the total supervised area exceeds 2.5 million. square meters.
About Civinity Group Since 2005 Civinity is one of the largest building maintenance and engineering solutions groups in the Baltics. The company will manage more than 25 companies (currently 20) after the merger, which will oversee 12.5 million. sq.m. m. (currently 10 million square meters) of residential and commercial buildings and have installed several thousand engineering systems in different European cities. The Civinity team will employ about 2,000 people (currently 1,300) in Lithuania, Latvia and the United Kingdom. Civinity Group’s estimated revenue from the maintenance of commercial buildings is 38.4 million. EUR. After the acquisition of Inservis, the planned income in 2022. 41.16 million EUR.