BUCHAREST (Romania), June 8 (SeeNews) – Spanish private equity firm GED said on Monday it plans to invest 80 million euro ($110.6 million) over the next two years to expand its business in southeast Europe.
"[…] we plan to increase the value of the existing companies in GED’s portfolio and to extend the company’s business in the South-Eastern Europe with a commitment to invest around 80 million euro during the next two years," GED president Enrique Centelles said in a statement.
GED, set up in 1996, manages a total fund volume of more than 300 million euro through its GED Eastern Fund II, GED Iberian Fund I, GED Sur, and GED Real Estate Eastern Investments vehicles. Their area of operation is southeast Europe and the Iberian peninsula.
GED has raised 150 million euro in GED Eastern Fund II, its second fund for investments in southeast Europe, targeting mainly Romania and Bulgaria. Through its first fund, GED Eastern Fund I-RPPF, the company has invested its capital in twelve Romanian companies from various sectors of the economy.
GED said in the same statement it has named Anca Ionescu as its new country manager in Romania while Irina Simeonova was named as investment manager at GED Eastern Fund II in Bulgaria.
GED also said it has so far carried out six acquisitions through its Eastern Fund II: five in Romania - corporate travel agency Happy Tour, lab equipment distributor Diamedix, Rosegur, Red Projects, and mobile retailer Fonomat, and one in Bulgaria - dairy firm Fama.
($=0.7239 euro)