Bilfinger is expanding its real estate services business in Northern Italy after the company acquired S.I.E.L.V, a specialist in technical facility management, located near Venice.
"As the German market leader for facility services, we especially want to grow in European markets outside Germany," said Dr. Jochen Keysberg (pictured), member of the executive board at Bilfinger. "Northern Italy opens up good development opportunities for us."
Sielv generates an annual output volume of approximately €50m with 220 employees. The company was previously management-owned and the two parties have agreed to keep the terms of the sale confidential.
The company’s activities focus on the economically strong regions of Veneto, Lombardy and Piedmont. Sielv is active in both the public and private sectors.
With the acquisition, Bilfinger is pursuing the goal of establishing itself as a major provider of facility services in Italy.