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Aug 29, 2023 12:06 EEST
August 29 (SeeNews) - Vienna-based investment advisory firm Accession Capital Partners (ACP) said on Tuesday it has partnered with Slovenia-based private equity firm Alfi PE to wholly acquire Vemo Trade, a regional leader in paper bag production based in Koprivnica, northern Croatia.
"We have been particularly impressed by Vemo’s operational excellence and focus on service, and look forward to working with Alfi PE on accelerating Vemo’s growth further," Marko Mitrovic, head of Western Balkans at ACP, said in a press release, without disclosing the value of the deal.
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Vemo, which was set up in 1995, serves a number of clients in the retail, food and beverage, pharmaceutical, marketing, and delivery service industries. The company exports 98% of its output, primarily to Western European countries.
Vemo is also a leader in implementing environmental standards, with its own solar power plant expected to make the business fully self-sufficient by the end of this year, and additional systems to manage water, wastewater, and waste in accordance with the best practices in the sector, ACP noted.
"We are pleased to partner with ACP on the Vemo investment. We strongly believe in the company’s long-term potential and value its competitiveness, positioning and robust ESG characteristics," Tone Pekolj, a partner at Alfi PE, said in the same press release.
ACP, formerly known as Mezzanine Management, is investing from its fifth fund AMC V SCA SICAV-RAIF, which it launched earlier this year. AMC V now has commitments of over 70% of its 350 million euro target and remains open to accept new investors.
According to the Croatian court registry, the founder of Vemo is Josipa Juric.
($ = 0.925 euro)
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