Hungary's Belfry acquires stake in Croatia's Pismorad – deal advisor

“Grubisic & Partners Corporate Finance acted as exclusive financial advisor to the management and shareholders of Pismorad d.o.o. in the sale of a significant ownership stake to Belfry Group,” managing partner Andrej Grubisic said on his Linkedin profile earlier this week.

Belfry did not respond to a SeeNews email seeking further details of the transaction by the time this story was published.

Pismorad is vertical and horizontal traffic signs producer and provider of surface roughening services in Croatia. It was set up in 1945.

Belfry operates in the areas of digital communication systems, especially in road and railway construction, traffic engineering and reconstruction works, asphalt and concrete manufacturing, as well as facility and vehicle fleet management. It is is currently present in eight countries in central and eastern Europe.