SEEF sells its minority stake in Euroins Insurance Group

South Eastern Europe Fund L.P. (SEEF), advised by Global Finance Group, has reached an agreement to sell its 10.64% participation in Euroins Insurance Group (EIG).

SEEF invested in EuroIns in 2008 in order to assist the expansion and development in the Balkan market. During this period and with the contribution of Global Finance Group, EuroIns increased its sales from €95m to €330m, making it the largest independent insurance company in the Balkans.

Global Finance, founded in Athens in 1991, is a leading private equity firm in Southeastern Europe advising over €850 million of capital raised in eight funds. It has completed over 70 equity investments in Greece, Romania and Bulgaria. Global Finance closely works with management to implement value creating strategies, assist with growth, add-on acquisitions and financing plans.

SEEF sold its controlling stake in TotalSoft to Logo Yazilim

The South Eastern Europe Fund L.P. (“SEEF”) a fund advised by Global Finance, has announced it has sold its 90.5% stake in Total Soft S.A. (“Total Soft”), the Romanian leader in Enterprise Application Software to Logo Yazilim Sanayi ve Ticaret A.S. (“Logo”). The equity value of 100% of the shares was € 30.25 million. With an EBITDA of € 3.48 million the price paid had a 2015 EBITDA multiple of 8.6x. 

Total Soft, established in 1994, has developed its flagship product, Charisma Business Suite that serves large and mid-size enterprises in almost all business sectors. Starting from its home market Total Soft succeeded in expanding in international markets and now has clients in 35 countries all over the world.

Global Finance Group has been key for the growth of Total Soft by providing management support, industry expertise and assisting in strategic decisions over the past ten years.

George Kourtis, Partner at Global Finance said, “Successful exit from Total Soft showcases our commitment to value appreciation through growth of sales, new product and services development and regional expansion. We assisted Total Soft’s strong management team to focus on Charisma and excel in selective vertical markets with high potential for success internationally. Despite the financial crisis, Total Soft grew over 50% in sales since 2010 and continued to develop innovative applications for its corporate clients.”

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SEEF agreed to sell its controlling stake in Andromeda to Amerra Capital Management

The South Eastern Europe Fund L.P. (“SEEF”) a fund advised by Global Finance, has announced it has agreed to sell its 90% stake in Andromeda Group (“Andromeda”), a leading aquaculture company in Greece and Spain to AMERRA Capital Management, LLC (“AMERRA”).

Andromeda is vertically integrated with operations in fry, fish farming and value added processing. Andromeda is the only sea bass and sea bream company with production in both the Western and Eastern Mediterranean region, reaching over 120 million customers within 48 hours. Andomeda’s products are sold across Europe and exported to the USA and the Middle East region.

Global Finance Group has provided management support, industry expertise and assistance in shaping the strategic decisions of Andromeda over the past ten years.

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