CITYSERV (CTS): City Service acquires residential facility management company in Latvia - raport 11

UNI - EN REPORT No11/2016

City Service group expands residential facility management business in Latvia. City Service, through a subsidiary active in Latvian market, has acquired Latio Namsaimnieks SIA. Latio Namsaimnieks SIA manages 290.000 sq. m. of residential facilities. It also provides services to commercial objects, total 37.000 sq. m.

Jonas Janukėnas, CEO of City Service SE, states that this acquisition is a very important step towards consolidating positions in Latvian residential facilities management market. Residential facility management business will grow by 100% due to this acquisition. City Service group will gain more recognition in the market, which will add to acceleration of future acquisition processes. The acquisition will also accelerate development of integrated services with added value to existing customers in residential facility management business segment.

Area of residential facilities under management of City Service group in Latvia was 279.000 sq. meters until acquisition of Latio Namsaimnieks SIA; area of commercial facilities under management of the Group was 900.000 sq. meters.

City Service group operates in Lithuania, Latvia, St. Petersburg, Poland and Spain. Companies of the Group provide facilities management services to 41.5 million sq. meters of building area.

The Group companies engage in facility management process administration, engineering systems maintenance and repairs, energy resources management and renovation, buildings’ technical and energetic auditing, territory maintenance and cleaning and provides security services. Consolidated revenue of the Group was EUR 167.2 million in 2015.

Vilius Mackonis,

Director of Marketing and Communication Department

+370 5 239 4900