Elbrus Capital announced an investment in Blesk InCare
12 August 2011
The private equity fund advised by Elbrus Capital has invested into a significant stake in Blesk InCare, a leading player in industrial laundries, textile management and protective mats in Russia and Ukraine.
Blesk InCare operates seven industrial laundries in Moscow, Russia and in Kiev, Ukraine with capacity to process 1.8 thousand tonnes of flat linen and over 300 thousand square meters of mats per month. Key sectors serviced by the company are business centers, horeca, medical, military and educational institutions.
The segment showed significant growth over the past several years and the fund plans to make further add-on investments to consolidate diversified players and build a strategic industry leader.
Elbrus Capital’s Managing Partner, Alexander Savin, said: “Strong trend towards outsourcing non-strategic operating costs by businesses and government owned enterprises allowed the industrial laundries segment to enjoy growth and increased demand for high quality and diversified services. We are happy to start a strategic partnership with the leading player in this segment and we plan to help Blesk InCare gain market share and increase their capacity through organic growth and acquisitions, to help them reach ambitious operational goals.”
“The segment we operate in is significantly under penetrated and will experience dynamic growth for several years to come. I am positive that Blesk InCare will become a strong consolidation platform and the fund’s financial support and expertise will be key to execute our growth strategy”, added Dmitry Mantsov, CEO and shareholder of Blesk InCare.
About Elbrus Capital
Elbrus Capital is a leading Russia and CIS focused private equity business. Elbrus Capital advises a leading private equity fund in Russia and CIS with $324 million raised from international institutional investors.
Elbrus Capital focuses on market leaders, looking for further growth and consolidation opportunities. The portfolio of the fund advised by Elbrus Capital consists of investments in Media-One, a Russian media company which includes TV business UTH and radio business Vyberi Radio, Strela Telecom, a regional provider of broadband internet and cable TV services, Cantina City, a contract catering operator, Blesk InCare, an industrial laundry provider and an automotive retailer in Siberia.
For more information please visit www.elbcp.com.
Should you have questions, please contact Ilya Novokhatsky, DNA Communications, (Elbrus Capital’s public relations representative), tel.: +7 925 5181798, e-mail: email@example.com.
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