Dussmann Group and CITIC Capital announced today that CITIC Capital has acquired Dussmann Group‘s business in mainland China and Hong Kong.
Dussmann Group, a leading international service provider and CITIC Capital, the private equity arm of CITIC Capital Holdings Limited, announced today that CITIC Capital has acquired Dussmann Group‘s business in mainland China and Hong Kong. Financial details of the transaction were not disclosed. The sale took place on January 31, 2020 and has now received all the necessary official approvals.
"This transaction is in line with our strategy to focus Dussmann Group's resources on activities in Europe and the Middle East and selected Asian markets," commented Hakan Lanfredi, member of the Dussmann Group Executive Board responsible for the EMEA region. "With CITIC Capital, we have found a respected strategic investor for our businesses in mainland China and Hong Kong. CITIC Capital already has activities in the Chinese facility management market and therefore has both the resources and the know-how to drive growth".
Dussmann China was founded in 1998 and has developed into an attractive facility management provider. Company headquarters are in Shanghai with subsidiaries in nine cities throughout the country. The company employs around 2,500 people. Dussmann Service Hong Kong was founded in 1996 and has a workforce of about 1,600. Both facility management companies carry out cleaning, catering, security and technical services, primarily for corporate clients.