February 21 (SeeNews) - Bulgarian managed services provider Telelink Business Services Group, or TBS Group, [BUL:TBS], said that Luxembourg-registered private equity vehicle CCL CEECAT Fund II SCSp has expressed interest in potentially investing in the company.
TBS Group will allow the suitor to carry out business, financial and legal due diligence in line with applicable Bulgarian and European legislation so as to comply with regulatory and legal requirements, the Bulgarian group said in a bourse filing on Monday, without providing details about the potential investment.
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CCL CEECAT Fund II SCSp is the flagship second fund of private investor CEECAT Capital and targets growth equity investments in small and mid-cap companies in the emerging markets of Southeast Europe, according to the UK firm's website. The investment firm held the fund's final close in October 2022, raising a total of 154 million euro ($164.6 million). CEECAT Capital focuses on majority buyout or minority investments with significant control rights in sectors such as niche manufacturing, consumer, business services, healthcare, and technology and automation.
CEECAT Capital's second fund has already committed a total of 74 million euro across six transactions in four Southeast European countries, its website shows. These investments include a majority ownership in Bulgarian plastic food packaging business Teda, Serbian convenience retailer Gomex, Romanian wall cladding provider Modulo as well as Turkish medical devices firm Aygun and fintech group Param.
The fund is backed by institutional investors like the European Investment Fund (EIF) and the European Bank for Reconstruction and Development (EBRD), as well as regional pension funds, family offices and leading Western European asset allocators.
Earlier on Monday, TBS Group co-founder and majority shareholder Lubomir Minchev said he plans to offer a minority stake on the Sofia bourse while keeping majority ownership.
($ = 0.9357 euro)