Blesk InCare has acquired OJSC “Novost” at privatization auction

14 February 2012   
Blesk InCare, one of the leading industrial launderers and protective mats rental services provider in Russia, has acquired 100% stake in OJSC ”Novost” from the Property Department of Moscow at privatization auction.

OJSC “Novost” has been providing flat linen laundry services to state institutions and business clients since 1980. The company’s capacity makes it possible to meet the needs of both small enterprises and major medical, horeca and military institutions. Due to convenient location it is possible to arrange prompt and efficient order delivery to any location in Moscow and Moscow region.

The acquisition of OJSC “Novost” will considerably increase production capacity of Blesk InCare as part of the ongoing business development. OJSC “Novost” is planned to undergo an ambitious modernization program, which will help the company to provide highest quality services quickly and efficiently.

Dmitry Mantsov, CEO, founder and shareholder of Blesk InCare said: “The acquisition of “Novost” will facilitate  Blesk InCare in establishing itself as a leading player in Moscow and Moscow region markets and in considerably increasing our client base. When competition develops rapidly it is important to be one step ahead and to meet the needs of clients by providing best-in-class services.

Our clients are expanding their operations and growing together with our business. Geographically diversified laundries will make it possible for Blesk InCare to cooperate with different institutions in all districts of Moscow and Moscow region, and to provide high quality services without delays”.

“Blesk InCare is experiencing strong growth in attractive markets and we are happy to support the company’s goals to strengthen its market position – said Alexander Savin, Elbrus Capital’s Managing Partner, - New capacities will create a stable foundation for further growth and will help the management to reach their ambitious goals”.

About Blesk InCare

Blesk InCare is one of the leading players in industrial laundries in Russia and Ukraine. Its services include industrial laundry of flat linen and uniforms and renting/leasing of flat linen and protective mats. At the moment the company operates 5 industrial and 3 commercial laundries in Russia and Ukraine with total capacity to process more than 2000 tones of linen per month and 10000 square meters of mats per day. Its widely diversified customer base includes more than 1200 clients from various industries: horeca, fitness-clubs, military institutions, business centers.

For more information please visit www.bleskincare.ru.

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 in the post-crisis environment.

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: ilya@dnapr.ru.

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