Such a company engaged in aluminum-glass facade technology has been established, which is dominant on the European market as well.

Budapest, 13 May 2022 – KÉSZ Group, one of Hungary's leading construction company groups acquired a majority (90%) share in FRONTAL Holding Zrt. A company engaged in aluminum-glass facade technology has been established, which is dominant on the European market as well.

KÉSZ Group in Hungarian private ownership carried out substantial acquisitions on the international market, too. One of Hungary's leading construction company groups acquired a majority (90%) share in FRONTAL Holding Zrt. with the approval of the Hungarian Competition Authority, by which it can continue expansion on the foreign market even more dynamically. Owing to the transaction, one of the most significant companies engaged in aluminum-glass facade technology of Central and Eastern Europe was established.

Fémmunkás Rt., the legal predecessor of Alufe Kft., the most well-known member company of FRONTAL Group was engaged in complete implementation of facades, doors and windows and plate coating until 2000 and since then the Group has been engaged in glass facade systems as its principal activity.

"This acquisition fits well to the activities of KÉSZ Group. Owing to the transaction, a dominant operator has been established on the aluminum-glass facade technology market. The cooperation of the two company groups is based on extremely strong foundations since production technology is based on the same principle and operates based on own resources, and both parties strive to utilize the synergies in product and digitalization developments. We think that by this step we can provide even more complex services on the international, mostly on the Western and Northern European markets, all this paired with active, continuous presence" - commented the acquisition by Tamás Vida, CEO of KÉSZ Group.

According to the agreement between the parties, János Bikádi, the founder and former majority owner of FRONTAL Group will henceforth assist maintenance of the expansion on the German and domestic markets and the integration as a strategic consultant.

"The success of the cooperation started by this transaction is substantiated by the fact that both KÉSZ Group and the FRONTAL Group have dynamically developing organizations built on identical values, mostly on people and skills, in the management of which the founder takes an active part up to the present day. We trust that with utilization of synergies and extension of our product range we are able to provide services of an even higher standard to our partners" - said János Bikádi.

KÉSZ Group that is 40 years old this year and started as a family enterprise has become by now a dominant operator on not only the domestic construction market but also it has been actively present in several countries of the region for long years with its construction and manufacturing activities. With a growth exceeding 40 per cent compared to 2020, in 2021 the Group achieved a consolidated sales revenue of 166 billion forints and employed near 2,100 people. It plans a further growth in the forthcoming years.