Invalda Service expands its activities in the field of facilities management. Priemiestis, a company which manages dwelling-houses in Vilnius district Naujoji Vilnia, was acquired from Vilnius City Municipality via a related company for 2.251 million LTL.
The privatisation was completed on Monday, after the company Volo paid the price, offered at the auction in May.
“We think Priemiestis will be able to offer residents better services and to respond to their needs more flexibly after becoming a private company” – Rimvydas Ramanauskas, CEO of Invalda Service (InService), said.
According to Mr. Ramanauskas, InService expands organically, but when an opportunity occurs, the possibility of acquisition should not be excluded.
In Naujoji Vilnia district Priemiestis manages 360 dwelling-houses, with the total area of 285 thousand square meters.
In 2009, revenue of Priemiestis reached 3.8 million LTL, net profit was 26.5 thousand LTL. Invalda Service received 5 million LTL revenue and earned 143.7 thousand LTL net profit in 2009.
InService is a part of investment company’s Invalda group.