Subject: TNM
Caverion strengthens its position in the Austrian facility services market by acquiring PORREAL Group
Caverion Corporation Investor news 29 June 2022 at 9.50 a.m. EEST
HELSINKI, June 29, 2022 /PRNewswire/ -- Caverion has signed an agreement to acquire all the shares in PORREAL GmbH ("PORREAL") in Austria, also including its fully owned subsidiary ALEA GmbH ("ALEA") (together "PORREAL Group"). PORREAL Group offers technical and soft facility services in Austria.
PORREAL offers technical facility services and real estate consulting services while ALEA offers soft facility services. Both companies are headquartered in Vienna, Austria. Closing is expected to take place in August 2022.
"This acquisition supports our sustainable growth strategy especially in public-private partnerships and will make us one of the leading companies in the highly fragmented Austrian technical facility services market," says Manfred Simmet, Head of Caverion's Division Austria.
PORREAL GmbH is a 100% subsidiary of the listed company PORR AG. PORREAL has been operating in the market for over 10 years. The company has a well-diversified customer base, including blue chip customers in the private sector and major public and private real estate owners. The stand-alone revenues of PORREAL and ALEA amounted to EUR 23 million and EUR 12 million in 2021, respectively. PORREAL Group currently employs approximately 380 employees.
For more information, please contact:
Manfred Simmet, Head of Caverion's Division Austria, +43 5060 2410, [email protected]
Milena Hæggström, Head of Investor Relations and External Communications, Caverion Corporation, tel. +358 40 5581 328, [email protected]
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