Black Sea Fund Mergers and Acquisitions Summary

Growth Capital Firm Profile

In the last 3 years, Black Sea Fund has acquired 1 company.

Black Sea Fund’s most common sectors for investment arehealthcare services (34%) and consumer products (34%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (67%) and growth capital (34%).

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M&A Summary

  • M&A Total Activity3
    • M&A Buy Activity3
  • Total Sectors Invested 3
  • Total Countries Invested 1
  • M&A Advisors 1

Black Sea Fund

Prinses Margrietplantsoen 88 WTC Toren E, 23e verdieping,,
Gravenhage, 2595BR
Netherlands
www.blacksea.fund
hello@blacksea.fund

Black Sea Fund is a private investment firm focused on acquiring minority or majority positions in mid-sized Romanian companies. The Firm looks to commit €3 to €6 million in profitable, growth-oriented companies with €5 to €50 million of revenue. Black Sea is a generalist investor however it focuses on fragmented industries with opportunities for consolidation. Black Sea Fund was formed in 2018 and is based in Gravenhage, the Netherlands.


Investment Criteria

Sectors of Interest: Business Services, Consumer Products, Furniture, Healthcare Services, Information Technology, Manufacturing

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Stake Purchase

Geographic Preferences: Eastern Europe

Transaction Criteria Min Max
Target Revenue 5 50
Target EBITDA 1 -
Investment Size 3 6
Enterprise Value - -
values in millions of EUR

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.6/yr) # - 2 1 - - - 3
Sell (0.0/yr) # - - - - - - 0
  3

Most Recent M&A

Company Date Value Type
Roovi 2021-09-08 - Buyout (LBO, MBO, MBI)
Covasna, Romania · www.roovi.ro
DigiRay 2020-12-01 - Buyout (LBO, MBO, MBI)
Cluj-Napoca, Romania · www.digiray.ro
Intermedio General Group SA 2020-06-01 - Growth Capital
Bucharest, Romania · www.theta.com.ro
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Consumer Products 1 (33%) - 1 (33%) -
Furniture 1 (33%) - 1 (33%) -
Healthcare Services 1 (33%) - 1 (33%) -
Total 3 - 3 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
Romania 3 (100%) - 3 (100%) -
Total 3 - 3 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 2 (67%) - 2 (67%) -
Growth Capital 1 (33%) - 1 (33%) -
Total 3 - 3 -

Top M&A Advisors

Legal Deals
Kinstellar
 1

Investor Summary

Investor Type

Growth Capital Firm

Size

Small

PE Assets

43M EUR

Established

2018

Specialist/Generalist

Generalist

Leadership

Adrian Vasile

Founding Partner

Arin Ion

Founding Partner

Cornel Fumea

Founding Partner

Matei Păun

Founding Partner

Iulian Portasă

Partner

FAQ

When was Black Sea Fund founded?

Black Sea Fund was founded in 2018.

What type of investor is Black Sea Fund?

Black Sea Fund is a growth capital firm.

Where is Black Sea Fund headquartered?

Black Sea Fund is headquartered in Gravenhage, Netherlands.

How much capital does Black Sea Fund have under management?

Black Sea Fund has 43M EUR under management.

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