menu

BlackPeak Capital Invests €6.8M in the Software Development Company Bianor

BlackPeak Capital Invests €6.8M in the Software Development Company Bianor
15 april 2024
The investment aims to support Bianor's current rapid organic growth and accelerate the company's development through mergers and acquisitions in the region. This strategy aims to build on Bianor's portfolio of services and competencies, as well as expand its geographic presence by reaching more customers in the US, Germany, Switzerland, the Nordics and MENA.

Private equity firm BlackPeak Capital invested €6.8M in Bianor Holding JSC (BSE:BNR), a software development company with more than 25-year experience implementing custom high-tech solutions for leading companies in the technology, media, telecommunications, and other industries. The investment is part of the company's successful capital increase, which attracted 199 investors, including several institutional investors. The total number of subscribed shares, with an issue value of BGN 3.70 (€1.89), is 5 414 619 resulting in a capital raise of over €10M. This is the second successful capital raising by Bianor in less than 12 months.

Share in:

The investment aims to support Bianor's current rapid organic growth and accelerate the company's development through mergers and acquisitions in the region. This strategy plans to build on Bianor's portfolio of services and competencies, as well as expand its geographic presence by reaching more customers in the US, Germany, Austria, Switzerland, the UK, and elsewhere.

 

BlackPeak Capital's investment ranks the fund among the top shareholders in Bianor. Bianor becomes the fifth company in the BlackPeak Southeast Europe Growth Equity Fund's portfolio, managing funds of €126M.

 

    

Bianor was co-founded by Kosta Jordanov, an accomplished Bulgarian entrepreneur. One of his most successful projects was the launch of the premium digital streaming platform FITE (a Bianor spin-off), which in 2021 was sold to the US media company Triller in one of Bulgaria’s largest IT exits to date.

 

‘BlackPeak Capital is among the most successful regional investment funds. Having access to their significant experience with large acquisitions will be extremely valuable for Bianor’s strategy to complement the organic growth with expansion through acquisitions,’ said Kosta Jordanov, CEO of Bianor Holding JSC. ‘On behalf of the Bianor Group team, I would like to thank BlackPeak Capital and the rest of our shareholders for their trust and support on the road to making Bianor one of the largest and most successful software development companies in the region,’ added Jordanov.

 

‘We are very pleased to have the opportunity to support Kosta and the entire Bianor team in their ambitious expansion plans. Bianor is a company with a proven track record of growth through acquisitions, and we believe that recent trends in the IT industry will give advantages to larger companies that have the resources to compete on a global level based on higher added value,’ said Rosen Ivanov, Managing Partner at BlackPeak Capital. ‘This is the first time we are investing in a listed company, and we hope that our investment will contribute not only to the development of the business but also to the Bulgarian capital market as a whole,’ Ivanov added.

 

After the increase, Bianor Holding's capitalization exceeds €25M at the current stock price. This places Bianor among the largest IT companies listed on the Bulgarian Stock Exchange.




Back to news