SEE Private Equity and M&A Forum

Mirna Marovic, CVCA President and VentureXchange Director, chaired the 13th edition of the SEE Private Equity and M&A Forum, held on November 7, 2019 in Belgrade. The conference explored new approaches and alternative investment strategies that may lead to new frontiers for private investment. Regional and international investors and fund managers have discussed the need for capital to invest in work that accelerates innovation, gains impact and returns in times of rapid economic, social and digital change. SEE Private Equity and the M&A Forum are the leading private equity event in the region, attracting over 100 investment professionals annually.

In her opening remarks, Ms. Marovic provided a thorough overview of the private equity market in SE Europe, including tried and tested winning investment strategies such as exploring options for buying and building regional consolidation. The larger contracts that have taken place in the region have certainly contributed to the large global and regional markets placing these border markets on their investment radar screen in search of new investment opportunities. One example is the largest buyout in the region: in 2014, Europe sold 1 billion euros to KKR United Group, and in 2018 KKR sold the same investment to BC Partners for 2.78 billion euros. Furthermore, the very solid projected real GDP growth rates (2018-2023) and low borrowing costs should be catalysts for private capital and M&A activities in the region.

Private equity in the region has a bright future, as confirmed by several other speakers representing funds actively seeking investment opportunities, including Henry Potter, Partner, Alpha Associates; Igor Hrzic, Investment Manager; Kemal Sikirić, Partner, IMAP Southeast Europe; Ivan Zec, partner, capital of the Blue Sea; and Miran Kovac, Partner / Managing Director, ALFI PE.

Gospođa Marović moderirala je panel raspravljajući o pokretačima, problemima i protumjerama u aktivnostima M&A. Alexandra Nagle, generalna direktorica Alantra, naglasila je da su ključni pokretači vrlo različiti, od M&A kao alata za ubrzanje strateških poslovnih ciljeva (npr. Stjecanje Intereurope od strane Posta Slovenije u skladu sa strategijom za širenje logistike) do međunarodne ekspanzije / pristupa većem rastu tržišta (npr. KMV stjecanje Knjaz Miloša ili niz OTP-ovih preuzimanja). Leo Morozov, šef neosnovne imovine i imovine, Fortenova grupa istaknula je da financiranje kupovine manjih lokalnih ugovora i dalje ozbiljno nedostaje, jer lokalne banke nemaju potrebno iskustvo, a strane banke nisu zainteresirane za male ulaznice, što smanjuje potencijalni povrat , Osim toga, izjavio je da su hitno potrebni manji lokalni fondovi privatnog kapitala kako bi se pomoglo konsolidaciji određenih industrija koje bi stvorile potencijal veličine posla zanimljiv za veće regionalne i globalne igrače. Vladimir Dašić, stariji partner, BDK Advokati očekuje da će vidjeti više aktivnosti M&A u projektima vezanim za infrastrukturu, jer za igrače poput Vincija i Sueza ima smisla pribaviti slične tvrtke / ciljeve u regiji, jer već imaju prisustvo i sredstva.

Gospođa Marović moderirala je panel raspravljajući o mogućnostima M&A u sektoru FIG koji se dotiču na temelju pokretača oživljavanja interesa za sektor, uključujući određene nove trendove poput FinTech-a i digitalnog bankarstva. Gabor Kolics, šef Odjela za otkup i koordinaciju banaka, OTP Bank Plc, komentirao je impresivnu strategiju stjecanja OTP banke, kao i razmatranja integracije nakon stjecanja. Uroš Ivanc, predsjednik uprave, Triglav grupa detaljno je razmotrila mogućnosti konsolidacije i prepreke na nacionalnom i regionalnom tržištu osiguranja. Dejan Tešić, pridruženi partner za zapadni Balkan, BAC IP EAD (BAC Securities), naglasio je važnost fintech industrije bez obzira na vrlo malo stvarnih primjera i mogućnosti uvrštavanja kompanija na varšavsku burzu kao mogući izlazni put navodeći da su samo dvije Tamo su se našle tvrtke iz jugoistočne Europe (slovenska banka NKBM i uvrštenje obveznica u listu bugarskog osiguravatelja automobila i lizing kompanije Eurohold).

Ms. Marovic also moderated the last panel of the day by discussing technological trends in the region. Ewa Abel, Investment Manager, EIF, provided an overview of the market situation and EIF efforts to increase seed availability, startup and venture capital in the region. Pavel Ezekiev, Managing Partner, NEVEQ Capital Partners, pointed out that the wider CEE region has already coined 10 unicorns with values ​​in excess of € 1 billion, despite having less than 10% of available venture capital funds across Europe. The following unicorns certainly place the region on the global technology map: Grammarly (UA), UiPath (RO), Software Group (BG), Cloudpipes (BG), Taxify (EE), CityBee Solutions (LT), Imperia Online (BG), BGMenu ( BG), Vayant (BG). Ms. Marovic introduced new emerging technology-driven spaces in the region, including AI (Evloven, SI), smart jewelry (Bella Beat, Croatia), quantum computers (Quantastica, EE, RS), cash-desk (Everseen, RO , RS), banking as a service (finqware, RO) and smart waste management (Sensoneo, SK). Kosta Andric, Managing Partner, ICT Hub, discussed the practical details of securing core capital and support for early stage startups in Serbia. Zoja Kukic, program director for ecosystem startup, Digital Serbia Initiative, highlighted the changes needed in the overall environment needed to create fertile ground for startup development.

 

Finally, in her closing remarks, Ms. Marovic gave a brief summary of excellent discussions throughout the day that brought a wide range of industry experts to the conference.

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