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Elbrus Capital has made an investment in Blesk InCare

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 tons 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 Elbrus Capital plans to make further add-on investments to consolidate diversified players and build a strategic industry leader.

Elbrus Capital’s Managing Partner, Alexander Savin, noted that 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.
Elbrus is happy to start a strategic partnership with the leading player in this segment and it plans to help Blesk InCare gain market share and increase their capacity through organic growth and acquisitions, to help them reach ambitious operational goals, said Savin.

Dmitry Mantsov, CEO and shareholder of Blesk InCare, said the segment the company operates in is significantly under penetrated and will experience dynamic growth for several years to come.
Blesk InCare will become a strong consolidation platform and Elbrus Capital’s financial support and expertise will be key to execute its growth strategy, said Mantsov.

Elbrus Capital is a leading Russia and CIS focused private equity business.

Elbrus Capital was founded by Dmitri Krukov, Alexander Savin and Robert Thielen through a buyout of Renaissance Private Equity from Renaissance Group. Elbrus Capital currently manages a $324 million fund raised from international institutional investors.

Elbrus Capital focuses on investments in market leaders, looking for further growth and consolidation opportunities in the post-crisis environment. The fund portfolio consists of investments in Media-One, a Russian media company active in TV and radio, Strela Telecom, a regional provider of broadband internet and cable TV services, Cantina City, a contract catering operator and an automotive retailer in Siberia.

Elbrus Capital is specifically interested in companies active in markets that are driven by changing consumer patterns, increased expenditures on healthcare and education, business and societal infrastructure investments and growing support services to the natural resources industry.

29th August 2011

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