March 5 (SeeNews) - Croatia-based and Southeast Europe-focused investment firm Provectus Capital Partners (PCP) said it has invested in local sports equipment wholesaler and retailer Keindl Sport Trgovina.
PCP will continue to develop Keindl Sport, organically and through acquisitions, in partnership with Kristijan Keindl, the company's founder, the investor said in a statement earlier this week, without disclosing the value of the investment.
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Keindl Sport employs around 50 people, generating revenues of about 100 million kuna ($15.8 million/13.2 million euro) per year. The company was established in 1998. Apart from Croatia, the company offers online sales to customers in Slovenia, Bosnia and Herzegovina, Serbia, Montenegro and North Macedonia.
PCP's investment in Keindl Sport is the first transaction funded from its Adriatic Structured Equity Fund (ASEF), which is supported by the European Investment Fund (EIF) and the Croatian Bank for Reconstruction and Development under the CROGIP program, the investment firm said.
(1 euro = 7.57276 kuna)