Civinity completes the largest bond issue in the Group’s history: raises EUR 13.54 million; half of the investment amount comes from retail investors
Civinity, a building maintenance, engineering and technology solutions group, has successfully completed public offering under its bond programme of up to EUR 50 million. During the offering, the Group raised EUR 13.54 million (EUR 13 million in nominal value bonds were issued). This represents the largest amount raised in a single offering in Civinity’s history.
A total of 613 investors from Lithuania, Latvia and Estonia participated in the issue. Retail investors were the most active, accounting for 604 investors whose investments amounted to EUR 6.84 million, or 50.5% of the total amount raised. Institutional investors invested EUR 6.71 million, representing 49.5% of the issue.
According to Deividas Jacka, Chairman of the Board of Civinity, the outcome of the issue is significant for the Group not only because of the record amount raised, but also because of the composition of the investor base.
“We consider this bond tranche a success. The amount raised is the largest in our history, but even more importantly, the issue attracted very broad participation from retail investors. This demonstrates that Civinity’s growth story is well understood by investors and that our plans to expand through acquisitions are viewed as a genuine strategy rather than merely a declaration. In the near future, we plan to announce which acquisitions will be financed using the proceeds of this bond issue,” says D. Jacka.
The offering was conducted from 27 May to 10 June. The Company indicates that it intends to continue its bond issuance programme, with the funds raised primarily being used to finance the Group’s expansion and acquisitions in foreign markets.
One of the most notable features of this offering was the activity of retail investors. The average investment made by a retail investor amounted to approximately EUR 11.3 thousand, while individual investors invested around EUR 2 million in Civinity bonds during a single day of the offering. According to the Company, this demonstrates the emergence of a more active individual investor base across the Baltic States, increasingly seeking not only deposits or investment funds, but also direct fixed-income investments in regional companies.
“For us, the capital market is not a one-off source of financing. We see that an increasing number of private investors want to participate directly in corporate growth stories, particularly when they are easy to understand: stable recurring revenue, growth through acquisitions, international expansion and a clear business model. For us, this marks the beginning of a long-term relationship with investors rather than merely the outcome of this particular issue,” says D. Jacka.
By country, the largest amount was invested from Lithuania – EUR 6.64 million, representing 49% of the total amount raised. Investors from Latvia invested EUR 4.53 million, or 33%, while investors from Estonia contributed EUR 2.37 million, or 18%. According to the Company, the activity of Estonian investors was particularly noteworthy: retail investors from Estonia invested EUR 1.78 million – almost half of the amount invested by Lithuanian retail investors, despite the fact that Civinity does not currently operate in Estonia.
“The activity of Latvian and Estonian investors is a very important signal for us. Civinity has long ceased to be solely a Lithuanian company – we operate in several markets, we view our growth opportunities across a broader European landscape, and investors are beginning to see us as a Baltic regional story rather than merely a local one. This is particularly important as we consider the continuation of our bond programme,” says D. Jacka.
According to him, participation by institutional investors in this tranche was more moderate than usual; however, this was also influenced by the broader market environment, with some local institutional investors currently focusing more on liquidity management, including in response to changes in the pension savings system.
“This was not the easiest moment in the market. We observed that some institutional investors were more cautious, but the activity of retail investors effectively offset this caution. Such a structure is valuable to us because it demonstrates broader confidence in the Group and reduces dependence on any single investor segment,” comments D. Jacka.
In recent years, Civinity has actively expanded its building maintenance, engineering, renovation, mobility and digital services businesses. In 2025, the Group’s revenue exceeded EUR 100 million for the first time, reaching EUR 100.4 million, while EBITDA amounted to EUR 8.3 million. The Group has also announced expansion beyond the Baltic States, including the acquisition of an elevator engineering business in Croatia and Slovenia.
“Our growth plan is based not only on organic growth. We see consolidation opportunities in building maintenance, engineering and urban services, and this requires flexible and predictable financing. This issue strengthens our ability to act quickly when attractive acquisition opportunities emerge in the market,” says D. Jacka.
The bond offering was arranged by Luminor Bank AS Lithuanian Branch, while the additional distributors in Latvia and Estonia were Redgate Capital and Evernord. The legal adviser to the issue was TEGOS Law Firm.
About Civinity
Civinity is one of the largest building maintenance, engineering and related digital services groups in the Northern European and Baltic region. The Group operates in Lithuania, Latvia, the United Kingdom and Southern Europe, including Croatia and Slovenia. Civinity manages more than 5 million sq. m of residential area, serves more than 1,600 commercial clients and has completed more than 2,000 engineering projects.
Person responsible for the release of information
Darius Alutis
Phone: +370 613 06 099
E–mail: darius.alutis@civinity.com
