Latvia, Legislation, Mergers and take-overs, Real Estate

International Internet Magazine. Baltic States news & analytics Wednesday, 01.04.2020, 14:33

Civinity housing management group acquires Vestabalt Serviss in Riga

BC, Riga, 19.03.2018.Print version
International housing management group Civinity has acquired Vestabalt Serviss company that has been restructured, and in the merger process has changed its name to VBS Serviss, informs LETA.

VBS Serviss, with over 40 properties in Riga and its surrounding areas under its management, provides a complete range of block and residential property management services.

"Civinity continues to implement its business development strategy in Latvia, offering more services provided by the group’s companies, and we plan to continue with this trend and add more companies and properties to the Civinity group not just in Riga, but also in the regions," said Remigijus Valentinavicius, Civinity’s Regional Manager of Latvia.

The management of the Civinity group points out that since the group’s companies have already been providing property management services to the Vestabalt Serviss clients starting with the end of last autumn, they have already grown accustomed to the quality and variety of services offered by Civinity.

In September 2017, Civinity’s board member Valentinavicius acquired 100 percent shares in Vestabalt Serviss.

Vestabalt Serviss was registered in November 2016 and the company’s share capital is EUR 2,800, according to business database.

Civinity group is an international company offering various high quality property management, maintenance and administration services in Latvia and Lithuania.

In Latvia, Civinity group oversees real estate management, maintenance and administration companies located in Riga, Marupe, Adazi, Ogre, Jurmala and other cities: Hausmaster, CS Komercserviss, Jurmalas Namsaimnieks, Labo Namu Agentura, Home master, VBS Serviss and a cleaning service company ALG Cleaning.

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