TIRANA (Albania), July 17 (SeeNews) – Italian company Servizi Italia said it has acquired a 40% stake in Albanian cleaning and laundry company Sanitary Cleaning for 1.3 million euro ($1.5 million), as the deal was financed by a bank loan.
“The transaction allows the Servizi Italia Group to expand its presence in Albania in the wash-hire industry, a market that – according to the management – is expected to have interesting growth prospects, in terms of both revenues and profitability,” the Italian company said in a press release on Monday.
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“Servizi Italia will have the opportunity to complete its portfolio of services offered in the country, considering that until today the Group was present in Albania only in sterilization industry, by owning a minority participation in Saniservice shpk,” the statement added.
Servizi Italia is specialized in offering outsourcing of services for healthcare facilities in Italy, Brazil, Turkey, India, Albania and Morocco, the statement noted.
“Sanitary Cleaning is an Albanian company founded in 2014 and operating in providing laundry and cleaning services for public and private hospitals and hotels in Albania.”
The Albanian company is expected to generate revenues of around 1.5 million euro in 2018 in laundry and cleaning services, with an operating result of over 0.3 million euro, the statement noted.
($ = 0.8546 euro)