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News

Mid Europa and Blue Sea Capital complete Exit from Knjaz Miloš

Blue Sea Capital is pleased to announce that it has completed the sale of Knjaz Miloš, a major player in the production of mineral water and non-alcoholic beverages in Serbia and the surrounding region, to a joint venture between Karlovarské Minerální Vody and PepsiCo, Inc.

Blue Sea Capital participated in the investment consortium led by Mid Europa Partners that invested in Knjaz Miloš in 2015 together with Imlek and Bambi, the leading regional dairy and biscuit producer, respectively, forming the consumer group – Moji Brendovi.

Mid Europa and Blue Sea Capital complete Exit from Bambi

Blue Sea Capital is pleased to announce that it has completed the sale of Bambi, the leading biscuit producer in countries of former Yugoslavia with its iconic Plazma brand, to Coca-Cola Hellenic Bottling Company.
Blue Sea Capital participated in the investment consortium led by Mid Europa Partners that invested in Bambi in 2015 together with Imlek and Knjaz Miloš, the leading regional dairy and beverage producer, respectively, forming the consumer group – Moji Brendovi.

KMV and PepsiCo Acquire Knjaz Miloš from Mid Europa and Blue Sea Capital

Blue Sea Capital is pleased to announce the signing of an agreement for sale of Knjaz Miloš, the leading producer of mineral water and non-alcoholic beverages in Serbia and the surrounding region, to a joint venture between Karlovarské Minerální Vody (“KMV”) and PepsiCo, Inc. (“PepsiCo”). The transaction is subject to customary competition authority clearance and is expected to close in Q3 2019.

Blue Sea Capital participated in the investment consortium led by Mid Europa Partners that invested in Knjaz Miloš in 2015 together with Imlek and Bambi, the leading regional dairy and biscuit producer, respectively, forming the consumer group – Moji Brendovi. Knjaz Miloš produces iconic brands of beverages in Serbia, including Knjaz Miloš carbonated water, Aqua Viva still water and a line of energy drinks under the Guarana brand. The company’s subsidiary Natura serves over 15,000 homes and offices with water under the Aqua Una brand.

Sаša Galić, Managing Partner of Blue Sea Capital, said: “We are proud that a global beverage company has recognised the strength of the management team and Knjaz Miloš’ brands. The management team rejuvenated the company’s portfolio, introduced new brands and increased the appeal to young consumers, positioning the company for future growth. After the acquisition of Bambi by Coca-Cola HBC, this transaction further proves the attractiveness of investment in the ex-Yugoslavia region.”

Bambi – press release

Blue Sea Capital is pleased to announce the signing of an agreement for sale of Bambi, the leading biscuit producer in the countries of former Yugoslavia, to Coca-Cola HBC AG (“Coca-Cola HBC”). The transaction is subject to customary competition authority clearance and is expected to close in Q2 2019.

Blue Sea Capital participated in the investment consortium led by Mid Europa Partners that invested in Bambi in 2015 together with Imlek and Knjaz Miloš, the leading regional dairy and natural mineral water players, respectively, forming the consumer group – Moji Brendovi. The company is the leading producer of biscuits, wafers, savoury snacks and other confecionary products in the region, with its biscuit brand Plazma ranking first in brand recognition in Serbia.

Sаša Galić, Managing Partner of Blue Sea Capital, said: “We always believed in potential of Bambi and are proud that one of the leading global FMCG companies has recognised Bambi and its range of iconic brands as a strategic fit to their portfolio of trademarks. We enjoyed working together with Mid Europa Partners and the strong management team on Bambi’s transformation from diversified national confectionary player into the leading regional biscuit producer. The transaction also confirms the continued interest of both strategic and financial investors in high quality companies in the region of former Yugoslavia.”

MID EUROPA COMPLETES THE ACQUSITION OF A MAJORITY STAKE IN MEDIGROUP

Mid Europa Partners (“Mid Europa”), the leading private equity investor in Central and Eastern Europe, announced today that it completed the acquisition of a majority stake in MediGroup. The seller, Blue Sea Capital, retained a 45% stake in the Company.
MediGroup is the leading private healthcare provider in Serbia with 13 facilities across key cities, providing inpatient, outpatient, lab, IVF, ophthalmology and cosmetology services. Mid Europa and Blue Sea Capital will support MediGroup during the next phase of organic and acquisitive growth, further consolidating the burgeoning private healthcare market in Serbia and strengthening the Company’s market leading position.

MID EUROPA ACQUIRES MAJORITY STAKE IN MEDIGROUP

Mid Europa Partners (“Mid Europa”), the leading private equity investor in Central and South Eastern Europe, announced today that it has entered into an agreement to acquire a majority stake in MediGroup (“MediGroup” or the “Company”). The seller, Blue Sea Capital, will retain a 45% stake in the Company. The transaction is subject to customary competition clearance and is expected to close in Q2 2018.

MediGroup is the leading private healthcare provider in Serbia with 13 facilities across key cities, providing inpatient, outpatient, lab, IVF, ophthalmology and cosmetology services.

Matthew Strassberg, Co-Managing Partner of Mid Europa, who founded and leads Mid Europa’s healthcare sector practice, commented: “MediGroup represents an ideal entry platform into the burgeoning private healthcare market in Serbia. We expect to leverage our decade-long experience of nurturing the growth of healthcare providers such as LuxMed in Poland and Regina Maria in Romania to accelerate the development of MediGroup.

Our partnership with Blue Sea Capital will ensure that MediGroup continues to have access to their local expertise and execution capabilities while benefiting from our significant sector experience and resources as well as the know-how of Regina Maria’s management team.” Csanad Daniel, Principal of Mid Europa, who led the execution of the transaction added: “With its leading brand and high-quality facilities, MediGroup is poised to capitalize on the significant growth opportunities in the Serbian healthcare market. We are enthusiastic to work together with our partner Blue Sea Capital and MediGroup’s management during the next phase of the Company’s development, supporting it through capital investments for organic and acquisitive growth.” Sasa Galic, Managing Partner of Blue Sea Capital stated: “I am proud of what the Blue Sea Capital team together with the management has achieved since MediGroup’s launch in 2013.

Partnering with Mid Europa, the most prominent investor in Serbia with a unique track record in healthcare investments in Central and Eastern Europe, represents a logical next step along MediGroup’s development path.”

Vuk Vukovic, Partner of Blue Sea Capital commented: “Through its distinctive approach to the provision of healthcare services and its willingness to invest strongly, MediGroup has become a country leader. The partnership with Mid Europa creates a great opportunity to take MediGroup’s development to another level.”

The transaction was executed by Csanad Daniel, Murat Buyumez and Can Karapence from Mid Europa, and by Vuk Vukovic, Mirko Milojevic and Marko Jojic from Blue Sea Capital. Sidley Austin and ZSP acted as legal counsels and PwC and EY as transaction services advisors to Mid Europa. Blue Sea Capital was advised by Allen & Overy, BDK, KPMG and Van Campen Liem.

About Mid Europa Partners

Mid Europa Partners is a leading independent private equity firm focused on the growth markets of Central and South Eastern Europe. Operating from London, Budapest, Warsaw and Istanbul, Mid Europa Partners has raised and managed funds of approximately €4.6 billion. Mid Europa has a pan-regional approach, acquires market leading companies, principally in domestic-focused growth industries, and since inception in 1999, has completed 36 investments across 18 countries in the region. For additional information on Mid Europa Partners please visit: www.mideuropa.com
About Blue Sea Capital

Blue Sea Capital is an independent private equity company with offices in Belgrade and Zagreb, focused on small and medium enterprises in the region. Blue Sea Capital combines regional presence and the investment expertise of its team obtained in both international and local setting, and has so far invested in leading companies in its target sectors. For additional information please visit: www.blueseacap.com.

MediGroup starts national expansion via acquisition of healthcare centre Dr. Cvjetković in Novi Sad

Blue Sea Capital is pleased to announce that MediGroup has acquired Dr. Cvjetković health centre, the largest healthcare operation in Novi Sad. Dr. Cvjetković is the leader in private healthcare services in the Vojvodina region with proven track record and tradition spanning over 20 years, rendering almost 80,000 medical procedures annually to its patients.

The acquisition establishes MediGroup’s presence in Novi Sad where it will act as a platform for further acquisitions, service offering expansion and integration of various healthcare services in the Vojvodina region under the MediGroup brand and leadership.

Saša Galić, Managing Partner of Blue Sea Capital, said: “We are pleased to add another high-quality asset to MediGroup. The acquisition marks the next chapter for MediGroup, as it emerges from its leadership position in Belgrade as the first nation-wide private healthcare provider in Serbia.”

MediGroup enters anti-aging and dermatology sector through a partnership with Ioanna Batsialou

Blue Sea Capital is pleased to announce that MediGroup entered into a partnership with Dr Ioanna Batsialou, a pioneer of anti-ageing medicine and a leader in dermatology in Serbia. Ioanna MediGroup clinic (“the Clinic”) is based in Belgrade and delivers anti-aging and dermatology treatments, building on Dr. Batsialou’s broad experience in anti-ageing medicine.
With the establishment of the Clinic, the Serbian healthcare platform MediGroup will provide an additional range of services to its clients, including mesotherapy, non-invasive face and body treatments, as well as a spectrum of dermatology and anti-ageing treatments.
Vuk Vuković, Partner of Blue Sea Capital, said: “MediGroup, as the leader in private healthcare market in Serbia, is pleased to add this unique service to its offering. We look forward to working with Dr Ioanna Batsialou on advancing the clinic in anti-ageing medicine and dermatology.”

Blue Sea Capital participates in the acquisition of three leading food and beverages companies in Serbia

Blue Sea Capital is pleased to announce its participation in the investment consortium led by Mid Europa Partners, which has now completed the acquisition of three leading food and beverages companies in Serbia: Imlek, Bambi and Knjaz Milos. Imlek is the biggest independent dairy producer in Central Eastern Europe with an impressive portfolio of dairy products. Bambi is a leading confectionary producer with its trademark „Plazma“ biscuit commanding exceptional brand loyalty. Knjaz Milos is a leading producer of and a leading brand in mineral water in Serbia. (more…)

Blue Sea Capital completes investment in ophthalmology clinic Milos Klinika

Blue Sea Capital is pleased to announce that it completed its sixth investment, the acquisition of ophthalmology clinic Milos Klinika. Milos Klinika is one of the leading regional ophthalmology clinics, primarily involved in cataract and cataract related surgeries, vitrectomy and LASIK surgeries. In 2013 it performed almost 4,000 surgeries and 9,000 examinations. Sasa Galic, Managing Partner of Blue Sea Capital, said: “We are pleased that we have completed this investment, an investment which underlines our belief in the strong growth prospects of both the ophthalmology medical area and the overall private healthcare sector in Serbia.” (more…)