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NCP Shipyard had a concession on maritime good and together with its related company NCP Group have been producing special catamarans and providing refit and maintenance services for yachts, navy ships, and other vessels. NCP Shipyard was in bankruptcy procedure since late 2017, however all business operations continued and were carried through NCP Group.

ISKRA is a globally recognized (and largest Slovenian) provider of intelligent industrial solutions and cutting-edge electro technical products. The company aims at improving existing applications and introducing new technologies within variety of sectors, but with particular emphasis on energy, electro technical components, installations, traffic, telecommunications, and facility management.

In October 2018 ISKRA has signed an agreement with NPC's largest creditor on redemption of its claims from NCP including a pledge over concession and other shipyard's assets. In late January 2019 Croatian Government has approved transfer of concession to ISKRA Shipyard 1 Ltd., which was a condition precedent for closing. As part of the overall transaction ISKRA is taking over all operating assets of NCP Shipyard and employees and contracts of NCP Group allowing for undisturbed continuation of core business activities.

GRUBISIC & Partners acted as an exclusive financial advisor to the management of NCP, which included financial analysis, simulation of various scenarios and preparation of a bankruptcy plan, transaction structuring and evaluation of appropriate models for transfer of business operations and NCP’s assets to ISKRA.

Salus is one of the leading wholesale suppliers of medicines and other pharmaceutical products in Slovenia. The company is part of Salus group and has been listed on Ljubljana Stock Exchange since 1992. Consolidated revenue of the group in 2017 amounted to EUR 232m. Sanolabor is a leading Slovenian distributor of medical and orthopedic devices, medicines and lab materials through wholesale channels and network of specialized retail shops. It has subsidiaries in Croatia and Serbia and also supplies customers in Bosnia and Herzegovina, Macedonia, Montenegro and Kosovo.

Salus had initially conditionally bought 58% of Sanolabor, with obligation of submitting mandatory public takeover bid, but under suspensive condition of reaching at least 75% of total shares. The bid was open between 30 November, 2018 and 27 December, 2018 during which Salus has acquired additional 40% of outstanding shares, reaching a total of 98.14% of Sanolabor shares for a consideration of EUR 17.5m.

GRUBISIC & Partners acted as an exclusive financial advisor to the management and shareholders of Sanolabor, completing valuation of the company prior to transaction process, creating transaction structure including its principle terms and conditions, preparing and co-managing due diligence, and advising on preparation and negotiation of all material elements of comprehensive transaction documentation.

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Sanitaria Dentalwaren GmbH from Austria is a distributor of dental equipment and materials with subsidiaries in Southeast Europe. The company has sold 51% stake in Sanitaria Dental d.o.o., its Croatian branch, to the local management. GRUBISIC & Partners were engaged as an exclusive financial advisor to the management of Sanitaria Dental, completing valuation of the business, putting together deal structure, and preparing and helping management negotiate all aspects of transaction documentation.

Siže Kupres is a company with three distinct business segments: (i) Wood center – offering panel materials, special wood products, aluminum products and accessories, primarily used for furniture production and interior decoration; (ii) Project business – internal and external furnishing of buildings in cooperation with architects, investors and construction companies; and (iii) Obliq - production of the most varied corpus and front panels for panel furniture. GRUBISIC & Partners were engaged as an exclusive financial advisor completing financial analysis of the business, helping management in preparation of financial projections and leading the process of arranging debt facility for working capital purposes in one of the domestic banks.

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Major shareholder of Bilić-Erić Security has sold a significant part of its equity stake to Posmrtna Pripomoć. Bilić-Erić Security is one of the leading full-service security companies providing residential and business clients protection services throughout Croatia. GRUBISIC & Partners acted as project manager and exclusive financial advisor to the management and shareholders of Bilić-Erić Security in the process of finding suitable investor and conducting complete transaction process, from structuring all the way to implementation.

Končar D&ST Inc. is a regional leader in the production of distribution, medium power and special transformers. The company has acquired a 74% stake in Power Engineering Transformatory Sp. Z o.o., which was carved out of Power Engineering S.A. The target, based in Czerwonak, Poland, is specialized in manufacturing and repairing of medium power transformers up to 63 MVA and with a voltage of up to 145 kV. GRUBISIC & Partners acted as project manager and exclusive financial advisor to the buyer.

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AON Plc is the leading global provider of risk management, insurance and reinsurance brokerage services with operations in 120 countries and employing more than 70,000 people. After 17 years of operations and successful positioning of AON Croatia amongst most relevant insurance brokers on the market, the local management had performed a management buyout and has fully acquired all Croatian subsidiaries of AON. After rebranding, the company will continue to cooperate with AON as exclusive correspondent for Croatian market. GRUBISIC & Partners acted as exclusive financial advisor to the management in completing the buyout.

Inspire Fusion, a private equity fund managed by Inspire Investments, has acquired 86% of Kompas Zagreb Inc., one of the leading and most prominent travel agency in Croatia. Kompas is especially renowned for its outgoing travel and MICE arrangements. GRUBISIC & Partners acted as project manager and exclusive financial advisor to the management and shareholders of Kompas in the process of finding appropriate investor and managing complete transaction process.

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Požgaj group, one of the leading Croatian wood processing companies, with special focus on panel and parquet business, has raised equity capital from an association Posmrtna pripomoć. By performing capital increase, Posmrtna pripomoć has acquired 15% ownership stake in the group. Požgaj will use the proceeds to finance working capital which will allow for further growth of production and sales. Alongside Posmrtna pripomoć, the shareholders of Požgaj group are private equity fund Nexus FGS and Požgaj family. GRUBISIC & Partners acted as project manager and exclusive financial advisor to the management of Požgaj group in the process of finding suitable investor and conducting complete transaction process, from structuring all the way to implementation.

Hospitality and Retail Systems Ltd., a leading IT / software services provider for the hospitality and retail industries in Central & Eastern Europe, has acquired 100% in Micros Fidelio Hrvatska d.o.o. (MFH), an industry leader in Croatian market. The sellers were Micros Fidelio Ireland Ltd. and Oracle Austria GmbH. GRUBISIC & Partners acted as exclusive financial advisor to the buyer.

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GRUBISIC & Partners as member of Globalscope International M&A Advisors presents you with overview and analysis of recent M&A trends and activities within lower mid-market segment (transactions up to USD 150m) during 1H of 2016, based on analysis of 20,208 transactions of which 24% were cross-border. The report contains information on:

1. Number and value of transactions.

2. Relative valuations at which transaction were executed.

3. Overview and statistics across sectors

4. 4. Overview and statistics across regions.

By combining its expertise in corporate finance (mergers, acquisitions and sale of companies, valuations, capital raising, and financial restructuring) and strong partner network of 51 firms in 41 countries through its membership in Globalscope, GRUBISIC & Partners can adequately address and serve needs of its existing and prospective clients.

Please download full report here.

Dominion Hosting Holding SpA (DHH), stock-market listed and headquartered in Milan, Italy, is one of the leading providers of web hosting services in the European emerging digital markets, with a special focus on the Balkans. Through its subsidiary, Plus Hosting d.o.o., DHH has acquired 100% of Infonet d.o.o., a main hosting player on the Croatian market. GRUBISIC & Partners acted as project manager and exclusive financial advisor to the seller.

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Elanija d.o.o. has sold Vila Rosina d.o.o. to Tommy d.o.o., a major retailer in Dalmatia region. Vila Rosina consists of land and existing villa at premium location on Bačvice, city of Split, and project documentation for construction of luxurious apartments and boutique hotel. GRUBISIC & Partners acted as advisor to the seller.

GRUBISIC & Partners held in-house education program in Erste Bank Croatia for employees from corporate banking department. The program covered topics of financial analysis and profitability evaluation of investment projects (capital budgeting techniques). The program was conducted during May for two groups of attendees lasting two days per group.

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Algoritam d.o.o. acquired 47% of shares in the bookstore chain APM d.o.o. from Profil International d.o.o. and Mozaik knjiga d.o.o. By completing the transaction Algoritam d.o.o. reached 98.7% ownership stake in APM d.o.o. GRUBISIC & Partners acted as financial adviser to the management and owners of Algoritam d.o.o.

Model Holding AG, headquartered in Weinfelden, Switzerland, as majority shareholder of Model pakiranja d.d. from Zagreb, Croatia, has completed the squeeze out procedure i.e. the transfer of shares from minority shareholders. GRUBISIC & Partners acted as financial advisor in the process which included valuation of Model pakiranja d.d.

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GRUBISIC & Partners held in-house education program in Erste Bank Croatia for employees from corporate banking department. The program covered topics of financial analysis and profitability evaluation of investment projects (capital budgeting techniques). The program was conducted during October for two groups of attendees lasting two days per group.