Civinity completes acquisition of Croatian elevator company Metus

Civinity Group has announced the completion of its acquisition of Metus, a Croatian elevator company. The total value of the deal is €2.44 million, after which Civinity owns 100% of Metus shares as well as those of its Slovenian subsidiary.

The Metus group employs around 280 people and is involved in the manufacturing, installation, maintenance, and modernization of elevators. In Croatia, the company services approximately 2,800 elevators from various manufacturers, with a local service team of over 40 technicians operating 24/7. Metus has branches in the Zagreb region, Varaždin, Osijek, Rijeka, and Split. Founded in 1992, the company is considered one of the market leaders in Croatia.

According to unaudited 2025 data, Metus reported consolidated revenue of €18.9 million, EBITDA of €1.1 million, and total assets of €12.6 million. The acquired companies' revenue accounts for nearly one-fifth of Civinity's pre-deal revenue. Metus manufactures elevators in Bosnia and Herzegovina, while its installation teams work in Germany and other European markets.

Deividas Jacka, Chairman of the Board of Civinity Group, stated that the company sees the greatest growth potential in elevator maintenance, as service contracts are typically longer and clients often stick with one provider throughout the elevator's lifespan. By acquiring Metus, Civinity takes over established service teams in Croatia and Slovenia, along with their client portfolios.

Metus' Slovenian subsidiary was registered in 2022 and operates in Ljubljana. In 2025, its revenue reached €1.26 million, up from €856,000 the previous year. The team averages around nine employees. Civinity plans to expand the client portfolio and increase the local team.

Croatia currently has a state program supporting the installation of elevators and other accessibility equipment in multi-apartment buildings, covering one-third of costs. The program potentially qualifies around 15,000 buildings, with €2 million allocated for 2026 and €3 million for 2027.

Metus was previously owned by Sdiptech since 2015. To finance the deal, Civinity issued privately placed bonds with a face value of €893,000, subscribed by INVL Bridge Finance. Initially, Civinity will focus on strengthening operations in Croatia and Slovenia.