Private equity investment fund Integral Venture Partners, focused on the Evolving Europe region and with offices in London, Budapest and Belgrade, announced that it entered a binding agreement to take over the majority stake in the leading Romanian provider of vending, office coffee, and clean water services to business clients O'Fresh Vending Solutions.

This is Integral's second deal on the Romanian market after it invested in Medima Health, a chain of clinics with a nationwide network, specialising in imagining and radiology, alongside its current majority shareholder Morphosis Capital Fund I Cooperatief UA (Morphosis).

Integral's investment in O'Fresh comes on the back of its investment (dated late 2021) in Breaktime, the leading clean water, vending, and office coffee services operator on the Bulgarian market, and will benefit from the in-house expertise developed by Integral's team in all these business service categories.

O'Fresh Vending Solutions, with a turnover of RON 64.4 million (EUR 13 million,+38% y/y) last year, is owned by Cyprus-registered Seminco Holdings Ltd (90%) and the local entrepreneur Mihai Ungureanu (10%).

O'Fresh Vending Solutions entered the market in 2008, and today has 60,000 customers per day, people who buy from the company's more than 3,500 vending machines, according to its website. According to the same source, the firm's partners include brands such as Mars, Heidi, Kinder and Alka.

In Romania, there are around 80,000 vending machines for drinks and food, according to Ziarul Financiar.

Integral, founded in 2013, manages institutional private equity and growth capital and is focused on investments in the countries of central and south-eastern Europe. Its fund is backed by leading international institutional investors, including the EIF, the EBRD, and the IFC.

Integral covers its pan-regional target market out of hubs in London, Budapest, and Belgrade and satellite offices in Bratislava, Bucharest, and Sofia.

iulian@romania-insider.com

(Photo source: Gavial31/Dreamstime.com)