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STRABAG PFS Expands Footprint in Belgium with ELCO Acquisition

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STRABAG PFS has acquired Belgian multi-technical services provider ELCO Group with annual revenues of approximately €59 million.

Headquartered in Kehlen, western Luxembourg, the group employs approximately 450 people and at three principal operating companies – ELCO S.A, ELCO-SERVITEC S.A., and EFG S.A.

The ELCO Group’s established presence and extensive portfolio make it an ideal entry point for us into the Luxembourg market.

The acquisition is expected to enhance STRABAG PFS’s previously announced strategy of enhancing its position as an integrated provider of building lifecycle solutions.

Stefan Babsch, Managing Director of STRABAG PFS Austria, says: “The ELCO Group’s established presence and extensive portfolio make it an ideal entry point for us into the Luxembourg market.”

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Founded in 1945, ELCO has evolved into a leading player in Luxembourg, serving public as well as private sector clients. The group’s services offering includes technical facilities management, HVAC system planning and installation, water and sanitary systems installation, and consultancy and installation services relating to security systems expertise. ELCO additionally delivers medium-voltage and renewable energy services, manufacturing support services, and telecommunication network installation.

ELCO’s current management team will be retained as STRABAG PFS’s expands its services offering in Belgium.

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Staff Reporter

FMIndustry.com covers the latest news, trends and opinion from the facilities management (FM) and corporate real estate (CRE) sectors. The FM market is currently estimated to be worth USD 1 trillion annually and is projected to grow at a compounded annualised rate of approximately 5% between now and 2026.

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  • Staff Reporter

    FMIndustry.com covers the latest news, trends and opinion from the facilities management (FM) and corporate real estate (CRE) sectors. The FM market is currently estimated to be worth USD 1 trillion annually and is projected to grow at a compounded annualised rate of approximately 5% between now and 2026.

    View all Articles

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