Advent International's Central & Eastern European team has completed the acquisition of a 79% stake in Bulgarian bottled water business Devin AD. The company is listed on the Bulgarian Stock Exchange and the shares were acquired from Austria's Soravia Group and individual shareholders for a price of BGN 3.06 per share, corresponding to an enterprise value for the entire business of EUR 40m. The price was at the bottom of the BGN 3.06-3.17 range stipulated in the Share Purchase Agreement earlier this year.
With SEP's support, Dohop intends to scale up its team and expand its global sales
Exit ends BPE's three-and-a-half-year holding period; the add-on is Stella's second under PAI
Combined group generates revenues of DKK 850m and employs 150 staff across 11 offices in Denmark
Sale process for the medical workwear company saw interest from FSN and Gilde, Mergermarket reported