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

In spring 2021, Hungarian FM provider B+N Referencia Zrt. acquired the interests of ISS Group in the Czech Republic, Slovakia, Romania and Hungary.  With this move, the Hungarian company group has become one of the largest facility operators in the region. As a logical continuation of this expansion, the company purchased a 100% stake in the Slovenian subsidiary of ISS.

With the acquisition, B+N Referencia Zrt.’s activities cover almost the entire Central European region and it has become the leading facility operator in CEE.

In two decades, the company has become the market leader in this highly competitive segment in Hungary. For years it has been a stable player in the ranking of the 500 Hungarian companies with the highest turnover. Over the past few years, sales have steadily increased, and in 2019, with a turnover of HUF 36 billion, the company achieved a profit after tax of HUF 4 billion. In addition to public institutions, its clients also include prominent representatives of the domestic corporate sector. The acquisition, which took place in the spring of 2021 and involved four of the region’s key countries, marked another milestone in the company’s development. In the six months since then, B+N Referencia Zrt. has successfully transferred its domestic expertise and experience to other countries in the region.

“In the last six months, B+N Referencia Zrt. has gone from being the domestic market leader to an indispensable player in the region. We’ve proven that the knowledge, experience and expertise of our colleagues guarantee our success in the international market. I am confident that, following the successful acquisitions in Hungary, the Czech Republic, Slovakia and Romania, we will become a major player in facility management in Slovenia. Increasing size increases cost efficiency, and high volume gives us a competitive advantage over smaller players in all our markets. With this transaction, the number of employees of B+N Referencia Zrt. will rise to over 10,000” said Ferenc Kis-Szölgyémi, CEO of B+N.

He added: “Our capital is our blue-collar base. As Europe’s blue-collar workers are mainly from the Central and Eastern European region, I am convinced that a significant regional workforce will also improve our competitiveness in Western Europe. We plan to use this competitive advantage to expand further in the future.”

With the market entry of B+N Referencia Zrt., ISS clients can be assured that the high-quality services of the past will be continued and even further developed in the entire facility management portfolio in the Slovenian market.