Private equity firm Novalpina Capital buys Maxbet Romania

Following the transaction, the MaxBet Romania group will benefit from the expertise and experience of Novalpina Capital, which has a strong presence in multiple fields of activity, such as healthcare, B2B, software and gambling, it said in a press release.

According to local media, the transaction would amount to more than 250 million euro ($296 million).

In the coming months, MaxBet Romania plans to open new locations and consolidate its leading position on the market, it added.

"We want to innovate and to expand both geographically and digitally. This transaction coincides with new investments that allow us to continue to grow. Belonging to such a strong group will bring strategic support and capital," MaxBet Romania CEO Ioana Bazavan said.

"Investments will not be limited to opening up new locations, but also to create added value by improving customer experience in MaxBet game rooms and employee specialization," she added.

Established in 2002, Maxbet Romania is active in the slot machine industry and has over 1,400 employees and 117 locations in 15 cities.

In 2019, the group posted a turnover of 133 million euro.

Novalpina Capital is a private equity firm that is based in London, which seeks to invest in the consumer and gaming sectors, according to its website.

($=0.8436 euro)