Polygon strengthens in the Austrian market by the acquisition of Renovo

Polygon strengthens in the Austrian market by the acquisition of Renovo

PR Newswire

STOCKHOLM, Nov. 6, 2020

STOCKHOLM, Nov. 6, 2020 /PRNewswire/ -- Polygon has today acquired RENOVO Brand- und Wasserschadensanierungs GmbH ("Renovo") in Austria, specialized in water- and fire damage restoration with a turnover of around 9 MEUR and 65 employees. 

Polygon continues on the strategic journey to be number one or two in all countries we operate in. The acquisition of Renovo will increase our presence in the Eastern part of Austria. Renovo is based in Mank, West of Vienna and operates from 3 branches in the lower Austria Vienna and Styria region.

"I'm very happy that we have managed to make this acquisition despite the hard conditions that prevail around the globe. Together we are always by each other's side and the acquisition of Renovo will enable us to reach a broader market in Austria," says Axel Gränitz President & CEO of Polygon Group.

"We are looking forward to this step, Renovo has a good reputation on the market and it will broaden Polygon's customer base in Austria. Renovo's main customers include insurance companies and private property managers," says Robert Bermoser Country President of Polygon Austria.

Renovo was founded in 2003 by its current Managing Director Peter Schmoll who will be part of the Polygon Management team in Austria.

"I'm enthusiastic over the opportunity to become part of the Polygon Group, Polygon is highly regarded as the leading damage restoration provider in Europe and I look forward to the new possibilities this step will present," says Peter Schmoll former owner of Renovo.

CONTACT:

For more information, please visit www.polygongroup.com or contact Martin Hamner, Chief Financial Officer, martin.hamner@polygongroup.com, +46 70 607 85 79

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/polygon/r/polygon-strengthens-in-the-austrian-market-by-the-acquisition-of-renovo,c3232771

The following files are available for download:

https://mb.cision.com/Main/5752/3232771/1331803.pdf

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