Austrian construction group STRABAG acquires Instalace Praha through STRABAG PFS.

STRABAG, through the STRABAG Property and Facility Services Group (STRABAG PFS), obtained full ownership in Czech company Instalace Praha, which deals with technical building equipment and technical management services. In 2023, it had 270 employees and achieved sales of CZK 1.4bn and a profit of CZK 14m.

STRABAG employs 2,400 people in the Czech Republic and in 2023 its Czech branch achieved sales of CZK 16bn and profits of over CZK 450m. The acquisition is subject to regulatory approval and its value has not been disclosed by the parties.