Polygon Enters the Luxembourg Market With the Acquisition of UTG

Date : 30/06/2020 @ 14:42
Source : PR Newswire (US)

Polygon Enters the Luxembourg Market With the Acquisition of UTG

STOCKHOLM, June 30, 2020 /PRNewswire/ -- Polygon has signed an agreement to acquire UTG in Luxembourg.  UTG is a growing entrepreneurial company focused on fire damage restoration and asbestos removal with 15 employees and annual sales of about 1.5 MEUR.

"We see fine opportunities entering the market in Luxembourg, it is a market with a high demand on quality services within the property damage industry. Polygon has so far operated in Luxembourg out of our country organizations in Belgium, Germany and France, but now we will be present in the heart of Luxembourg. The acquisition of UTG is a strategically important step since it will enable us to offer and grow our services in a new market and, given our strong presence in the neighboring countries, will enable us to fully leverage our resources and expertise", says Axel Gränitz, President and CEO of Polygon Group.

UTG is a well built up brand in Luxembourg since 25 years and was founded by two German brothers. 

"Polygon is the leading property damage restoration company in Europe and we are really looking forward to be able to offer a complete range of services within water, fire and climate solutions to meet the needs of all our customers - from households and companies to insurers and the public sector. Being part of a large international company will make it possible for UTG to further grow and offer our customers the very best of services", says Christian Graf, CEO and Co-Founder of UTG. 

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-enters-the-luxembourg-market-with-the-acquisition-of-utg,c3144826

The following files are available for download:

https://mb.cision.com/Main/5752/3144826/1272015.pdf

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Copyright 2020 PR Newswire

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