Stage Capital exits Mermeren in €73m trade sale

Added to previous value realisations, the exit delivered a return of 5x the initial cost of the investment, according to Stage Capital.

The transaction closes an eight-year holding period for the private equity firm, formerly known as NBGI Private Equity. The GP acquired the business in February 2009 from Athens-listed marble production and distribution group FHL Kyriakidis.

In a slew of exits, Stage Capital announced the sale of its minority stake in Sofia-based The Mall to specialist shopping centre investor Hyprop Investments for €156m. The GP also sold its real estate assets in Czech Logistics to CBRE Global Investors for €125m. 

Stage Capital, which span out from NBGI in October 2016, has now realised 84% of its invested capital since launch.

Company
Headquartered in Prilep, Macedonia, Mermeren was established in 1946. It extracts and processes white marble from five large quarries and exports the marble through its main logistics hub in the port of Thessaloniki, Greece.

People
Stage Capital – Graham Thomas (CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• CEE
• Industrials
• Greece
• Trade sale