News Article B+N Reference Zrt. Budapest facility management Hungary
by Property Forum | Investment

Hungarian-owned B+N Referencia Ltd. has announced the acquisition of Italy-based Sagad. With this move the company has gained new industry knowledge, significant Western European experience and a new customer base.

B+N is continuing to strengthen its international presence outside Central and Eastern Europe, with 40 per cent of the group’s revenues coming from foreign operations already this year. 

The activities of the firm cover a wide range of areas, from technical maintenance of facilities, and cleaning and hygiene services to related research and development. The group’s hygiene services are present in the facilities of many multinational companies and public institutions, from Vaclav Havel Airport in Prague to Legia Warszawa stadium in Poland. 

“The Italian company has been operating successfully and profitably since 1950 and is active in areas such as hygiene services for specialised industrial facilities, including nuclear power plants, but also has extensive experience in the technical management of public and residential buildings. The operating model of the industry association, which is almost unavoidable in facility management there, can be a useful guide for the domestic industry, for example, to ensure the most transparent competition in the market”, said Ferenc Kis-Szölgyémi, CEO of B+N Referencia Ltd., in connection with the acquisition.

Sagad s.r.l. has its headquarters in Rome and Milan, and its clients include numerous Italian ministries, agencies, university campuses and global companies. B+N Referencia Ltd. has closed two other foreign acquisitions this year, both of them in the Czech Republic in the field of building management, maintenance, landscaping and gardening. The combined turnover of the two Czech companies was close to EUR 7 million in 2022.