Civinity sells €8M bond tranche to fund three European acquisitions
What's the deal? Lithuanian building maintenance and engineering group CivinityDealroom has a profile for this one. Try Dealroom → has started selling a new bond tranche worth up to €8 million, with proceeds earmarked for acquisitions. The bonds carry a 10% annual coupon and mature in 2029. The offering runs from November 5 to November 20, 2026, across Lithuania, Latvia, and Estonia.
What's the endgame? Civinity plans to complete three acquisitions in different European countries by year-end, with financing arranged in advance. Two targets operate in Croatia and Slovenia; a third marks the group's entry into Estonia, extending its reach across all three Baltic states.
Why now? The sale follows a June issue that raised €13.54 million, the group's largest to date, from 613 investors across the Baltics. Part of those proceeds already funded this year's acquisitions of lift-services firm MetusDealroom has a profile for this one. Try Dealroom → and Vilnius property manager AdmeoDealroom has a profile for this one. Try Dealroom →.
Founder and board chairman Deividas Jacka said completing the three planned deals would lift the group's annual turnover by more than €60 million and EBITDA by over €9 million. "It is important to us that an acquired company can grow after joining the group," he said.
By the numbers: In 2025, Civinity's audited revenue rose 13.4% to €100.4 million and EBITDA grew 18% to €8.3 million. Pro forma revenue for the 12 months to June 2026 reached €121.3 million and EBITDA €9.7 million — though those figures include acquired businesses rather than organic growth.
What could go wrong? The expansion leans on relatively costly debt: a 10% coupon is a steep price to finance a buying spree. Civinity is currently evaluating more than 10 targets, with planned investments of roughly €55 million.
The signal: Repeat bond-market issues signal investor appetite for Civinity's roll-up strategy in a fragmented building-services market. The group manages more than 5 million square metres of residential space and serves over 1,600 business clients across Lithuania, Latvia, the UK, Croatia, and Slovenia.
Read more: en.reflect.ee
Image credit: Generated with Gemini
