Polygon has signed an agreement to acquire UTG in Luxembourg.
UTG is a growing entrepreneurial company focused on fire damage restoration and asbestos removal with 15 employees and annual sales of about 1.5M EUR.
“We see fine opportunities entering the market in Luxembourg, it is a market with a high demand on quality services within the property damage industry. Polygon has so far operated in Luxembourg out of our country organizations in Belgium, Germany and France, but now we will be present in the heart of Luxembourg. The acquisition of UTG is a strategically important step since it will enable us to offer and grow our services in a new market and, given our strong presence in the neighboring countries, will enable us to fully leverage our resources and expertise”, says Axel Gränitz, President and CEO of Polygon Group.
UTG is a well built up brand in Luxembourg since 25 years and was founded by two German brothers.