Bucharest - 15 aprilie 2016
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Constantinescu family and Balkan Accession Fund (BAF), a private equity fund advised by Axxess Capital, the shareholders of the leading player in the toys and games sector, Noriel Group, signed an agreement to sell 100% of the group to Polish Enterprise Fund VII, a private equity fund managed by Enterprise Investors.
About the Company
The founders of the group, Constantinescu family, have established the business of Noriel by setting-up a production facility for educational and family games. Starting from distributing its own cardboard games under the brand of Noriel, the company succeeded to build by the end of 2009 a leading distribution network for toys and games in Romania, by adding to its portfolio highly reputable international brands.
Early 2010, the company’s founders, alongside Balkan Accession Fund, decided to expand the business by launching its own toy retail chain under the name Noriel. With the help of a young and energetic team under the leadership of Cristian Constantinescu, the shareholders of Noriel Group built the largest Romanian toy retail chain with national presence, while developing Noriel into a strong brand.
At the end of 2014, Noriel expanded into another market segment by launching a new concept of store, the “megastore”, which offers all essential goods for children between 0-3 years old and a fashion line for children in addition to its traditional line of toys.
With respect to the transaction, Cristian Constantinescu, CEO of Noriel commented: “We are delighted to have such an experienced investor in Noriel who will bring expertise and capital to support the company in its next stage of development”
Horia Manda, the Managing Partner of Axxess Capital added: “The decision to sell was taken in accordance with BAF’s strategy. When BAF invested in the company, we considered that it was the right moment to expand into retail and, together with our partners, we managed, despite the challenging economic environment, to execute the investor’s plan of creating the most important toy retailer in Romania”.
The Sellers were assisted by UniCredit Investment Banking as M&A advisor and KPMG as financial advisor. Alin Pop, Head of UniCredit Investment Banking Division in Romania declared: “We were very proud to have advised the sellers on this transaction, and was a pleasure to accompany the Constantinescu family as founders of this successful business as well as Balkan Accession Fund as financial investor.”
On the legal side, Constatinescu family was advised by Reff & Associates and BAF was advised by Mrs. Gabriela Assoum- Predescu.
The transaction is conditional upon obtaining the approval from the Romanian Competition Council.
About Axxess Capital
Axxess Capital is an independent investment adviser with more than 15 years of investment history in the lower mid-market in South-Eastern Europe and has advised in transactions totalling over EUR 250 million for three private equity funds. Axxess Capital has advised in the closing to date of over 35 acquisitions and the exits out of 25 equity investments, supporting growth and development of private companies across a number of sectors including financial services, manufacturing, IT&C, specialized retail, FMCG and others.
The Balkan Accession Fund is a EUR 110 million private equity regional fund, designed specifically to take advantage of investment opportunities in Romania and Bulgaria as well as in selected industries in the Balkan’s Region. After 10 years of activity, the Fund is currently in its divestment stage. For more information, visit www.axxesscapital.net.
For more information, please contact:
For the founders
Cristian Constantinescu
Founder and CEO
Tel: +40 21 2227252
Fax: 40 21 2227252
E-mail: cristian.constantinescu@noriel.eu
For Axxess Capital
Horia Manda
Managing Partner
Tel: +40 21 207 7100
Fax: +40 21 222 8504
E-mail: horia.manda@axxesscapital.net
http://axxesscapital.net/
Cuvinte cheie:
press release Axxess Capital