– REINO Capital SA has acquired 100 per cent of the shares of PZN Sp. z o. o. – a leading provider of facility management services.

– The acquired company has been operating since 1996, has a nationwide reach and revenues of approximately PLN 50 million per year.

– The acquisition of PZN and its merger with YATRE will provide the REINO Group with a quantum leap in business in the facility management segment and significant economies of scale following the planned increase in the value of assets under management.

– The transaction has been settled in cash and REINO Capital shares, which will be taken up by existing PZN shareholders.

PZN is one of the most experienced players on the facility management market – it has been operating since 1996. It provides comprehensive services for all types of real estate: banking, office, retail, warehouse, production, hotel and residential throughout Poland. It currently services 5,200 buildings across the country through 16 of its field branches, located in the largest Polish cities. The total area serviced by the network of experienced specialists is 1.5 million sqm. The average annual revenue generated by PZN is more than PLN 50 million.

– In the process of reviewing strategic options, we considered several avenues. The vision presented by REINO was the best fit with our values, work philosophy and ambitions for further growth and we therefore decided to take this step. The excellent management background, access to capital, other customer groups and the prestige associated with being on the stock exchange were also extremely important factors. I am convinced that the synergy effect will work sensationally in our case and together we will build a much greater value than separately,” explains Andrzej Zalega, CEO of PZN.

From the REINO Group’s perspective, this is an investment in increasing the scale of the business and complementing the competence and range of services provided.

– The acquisition of PZN is another important step in the development of the REINO Group’s business and the strategy that we have been consistently and successfully pursuing for years. Over the past five years – despite the pandemic and the subsequent unprecedented rise in inflation and interest rates – we have increased the scale of our business 10-fold. We have achieved this by, among other things, building our own FM business under the YATRE brand. The strong synergies resulting from the combination of PZN and YATRE could already translate into PLN 100 million in revenues from facility management services alone in the next year. ‘The strategic goal of the REINO Group is to maximise revenues from servicing managed assets to at least 4 per cent of the capital invested by investors and business partners, as well as to take advantage of economies of scale, which is key to our financial performance,’ argues Radosław Świątkowski, CEO of the REINO Group.

It is worth noting that, unlike YATRE, PZN’s business has so far focused on serving the network customer in a mobile model. The entity resulting from their merger will focus mainly on revenue opportunities and synergies.

– A renowned player with a nationwide reach is becoming part of our Group. Its expertise and experience are of strategic importance in further developing the FM business. It is crucial that the two entities, which had slightly different competences and different customers, complement each other. This combination will enable us to offer the full spectrum of property maintenance services, regardless of building type and location. We will also significantly increase our ability to provide comprehensive maintenance services for further portfolios of assets. In addition, we will be able to compete more effectively for external contracts, making better use of the REINO Group’s sales force. – continues Radosław Świątkowski.

With the merger comes the opportunity to create a new, much broader, more ambitious strategy for the facility management segment within the REINO Group.

– Ultimately, we want to create a nationwide and perhaps even an international one-stop-shop for all technical issues, operational optimisation of facility operations, sustainability, ESG, construction work, CAPEX and OPEX plans, cleanliness or security. Going beyond the Polish market, serving large customers in our region has always been our ambition. Now we will be able to do this together. Especially as this strategy fits perfectly with the REINO Group’s plans to create pan-European investment platforms,” says Andrzej Zalega.

As part of the transaction, some of the existing owners of PZN “exchanged” their shares for shares in REINO Capital. Andrzej Zalega, hitherto the leading shareholder of PZN, has become a shareholder of REINO Capital and will participate in the development of the FM business as vice president of the company created after the merger of PZN and YATRE.