Civinity expands in the Baltic States, enters Engineering Systems design market
Civinity, one of the largest residential and commercial facility management providers in the Baltic States, together with its partner - a Lithuanian businessman Domas Dargis, - decided to acquire Statinių priežiūra and Dizaja. The two companies provide commercial facility management, as well as planning and design of engineering systems.
“In Latvia we are among the leaders of the commercial facility management industry. In Lithuania we have a wide network of residential properties under our management. The acquisition of these companies is a natural decision that we have been planning for a while now. The deal will allow us to improve our presence in the Lithuanian commercial facility management market, as well as offer new engineering solutions for real estate developers and other customers, both here and in Latvia,” commented Deividas Jacka, Chief Business Development Officer at Civinity.
According to Domas Dargis, the sole shareholder of a facility management company Servico, the goal of expanding into a new market is clear: to become a partner of choice for real estate developers and operators.
“We plan to continue working with the existing management and specialist team. They hold unique experience and know-how in designing, integrating and maintaining engineering systems within commercial objects. We will aim at supporting active development of both companies, their teams and their market share,” shared Domas Dargis.
The parties anticipate to close the deal by the end of the year. The deal is subject to the approval by the Competition Council of the Republic of Lithuania.
Civinity is one of the largest residential and commercial facility management providers in the Baltic States. The group unites over 20 companies which manage commercial and residential buildings. In 2017, the group’s unaudited revenues reached 38.8 mln EUR.