Stell Eesti AS, a key player in the property management sector in Estonia, is expanding its operation in Southern Estonia and strengthening its competence in special cleaning services through the acquisition of Kyyrix OÜ, a Tartu company boasting nearly 30 years of experience.
Stell Eesti AS and Kyyrix OÜ, a company which primarily renders cleaning services and sells cleaning supplies in Southern Estonia, signed a sale and purchase agreement by which Stell acquired 100% of Kyyrix OÜ. The contract was electronically signed by Toomas Tamme, the founder and member of the board of Kyyrix, and Mikk Sillamaa, chairman of the board at Stell, on 12 March. Prior to entering into force, the contract is to be approved by the Estonian Competition Authority.
The acquisition of Kyyrix will give Stell a great opportunity to expand the company’s scope of operation and ensure strong competence locally in Southern Estonia. When the contract has entered into force, Stell will become the largest provider of property management services in the region.
“Kyyrix has remarkably lengthy experience and strong competence in special cleaning services, which cover the cleaning of challenging surfaces and materials; in addition, various industrial enterprises and plants are strongly represented in the company’s portfolio. Joining Stell will ensure that the clients of Stell and Kyyrix alike can be provided with even broader comprehensive solutions for property management and that tailored services meeting the needs of every client can be developed,” said Mikk Sillamaa, the CEO of Stell Eesti.
Ülle Unt, the CEO of Kyyrix, says the company had belonged to its founder for nearly 30 years, so the decision to sell as well as potential buyers were quite thoroughly considered. “Stell is a trustworthy Estonian company which holds ethical values and has extensive experience in its field of operation. This is why, today, we can be sure that we are leaving the clients, partners and employees of Kyyrix in good hands.” After the company joins Stell, Ülle Unt’s employment will continue as the Manager for the Southern Region.
According to Sillamaa, the market of administrative services is consolidating everywhere around the world, with major service providers playing the key role. “Leading these processes and contributing to the changes occurring in the local market is a major part of Stell’s strategy. The greater the company’s capacity in various segments of its operation, the more flexible the company can be in providing services to its clients, and the more valuable it is as a partner,” Sillamaa added.
Following the merger, both Kyyrix OÜ and Stell Eesti AS will continue to fulfil all the existing client and cooperation contracts. Kyyrix will initially keep rendering services under its name but will move under the Stell brand after the substantive merger of the companies has been completed.
Founded in 1994, Kyyrix OÜ is an Estonian-owned company with nearly 250 employees in Tartu, which renders professional cleaning services and sells cleaning supplies. Kyyrix has more than 200 clients, including major industrial enterprises in Southern Estonia.
CEO, Stell Eesti AS
This article was published also: