YIT acquires Central European building system service provider Caverion

Finnish YIT Group acquires the Central European building system service provider Caverion for 73 million euro. Specialist in services related to technical building systems and their maintenance and operation, Caverion Gmbh’s turnover in 2009 was 440 million euro.

Caverion operates in Germany, the Czech Republic, Hungary and Poland. The company has project activities also in other countries. Caverion has 1900 employees. As a result of the acquisition, YIT will become the second largest provider of building system services in Germany.

– Our aim is to develop our operations in Central Europe and become the market leader in Germany. We target for profitable growth and increase the share of service and maintenance operations in our services, says Arne Malonæs, President of YIT's Building and Industrial Services segment.

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