City Service, a property administration and maintenance group owned by Lithuania’s Icor, has purchased Jenasa, a provider of administration services to apartment building associations in Madrid, for 1 million euros as it continues to invest in Spain, writes LETA/BNS.
“In Spain, we currently focus on apartment building administration services. The new acquisition makes us one of the largest companies in this sector in Spain,” Edvinas Paulauskas, a member of the management board at City Service, said in a press release on November 2nd. “We will continue to invest in different regions of that country,” he added.
Jenasa, which serves 245 apartment building associations in the city of Madrid, posted 659,000 euros in revenue for 2016. In Spain, City Service also owns Grupo Aresi de Inversiones. City Service, which is listed on the Warsaw Stock Exchange, also operates in Poland, Latvia, Lithuania and Russia’s second-biggest city of St. Petersburg.
