Innova Capital sells La Fântâna back to Oresa

The deal sees Oresa and Amza return as owners of the company they sold to Innova Capital for €35m in May 2007. At the time, Oresa had been the majority owner for six years, since its initial acquisition of an 80% stake for €4m.

CEO Amza said in a statement the new investment by Oresa will allow his group to consolidate its position in the south-eastern, central and eastern Europe, as well as further develop the business.

With Innova as backers and Amza at the helm, La Fântâna grew its EBITDA nearly fourfold, according to Innova managing director Sebastian Teter.

Previous funding
The company completed a €34m refinancing round in August 2013.

Company
Headquartered in Bucharest, La Fântâna is a provider of spring water for offices in Romania and Serbia, and coffee machines in Romania.

The company claims to control 70% of the Romanian market for office water supplies and 50% in Serbia.

La Fântâna generated turnover of €42m.

People
Innova Capital – Sebastian Teter (managing director).
Oresa – Cornel Marian (managing director).
La Fântâna – Cristian Amza (CEO, founder).

Advisers
Equity – David & Baias (legal); Popovici Nitu Stoica & Asociatii (legal); PwC (corporate finance).
Vendor –Clifford Chance Badea (legal).

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• Topics
• Buyouts
• Exits
• CEE
• Support services
• Romania
• Innova Capital
• Oresa Ventures
• Secondary buyout