Prosperus Growth Champions IT Expansion with Strategic Neos Acquisition
Prosperus Growth fund makes a strategic leap in IT investments by acquiring Neos, aiming to anchor their IT platform strategy.
In a bold move reflecting its strategic vision, Croatia’s Prosperus Growth fund has acquired a controlling interest in Neos, a renowned provider in advanced IT solutions hailing from Zagreb. This pivotal acquisition is more than just a financial transaction; it’s a cornerstone in Prosperus Growth’s grander blueprint to harness the burgeoning sectors of cloud management and business analytics.
Neos: The Jewel in the IT Crown
Neos stands as a beacon in data analytics, rapid application development, cloud integration, and robust IT infrastructure, lighting pathways across diversified domains such as financial services, telecommunications, and the public sector. In 2020, the company’s HRK 63.1m revenue and an impressive HRK 14.5m in EBITDA showcase its successful recipe for a promising future.
Joško Miliša, the President of the Management Board at Prosperus-Invest, articulates the rationale behind this acquisition. “In partnering with Neos, the Prosperus Growth fund reaffirms its commitment to exemplary IT enterprises equipped with unparalleled expertise,” he expresses. With Neos on board, there’s a palpable expectation of elevated revenue, aligning with its steadfast EBITDA margin, ensuring satisfaction across its wide array of partners and investors.
A Synergistic Essence Fueling Future Growth
According to Davorin Capan, Member of Neos’ Management Board, “The melding of Neos’ IT expertise with the investment acumen from Prosperus Growth promises a dynamic synergy.” This alliance is not just about growth but about revolutionizing business development, expanding portfolios, and enlarging the customer base.
The Prosperus Growth fund, having raised €50.9m through a private offering, features solid backing from the European Investment Fund and the Croatian Bank for Reconstruction and Development, courtesy of the CROGIP programme. This strategic reserve will bolster at least 75% of its investment directly into Croatian soil, with the leeway for regional prospects. As stated in Private Equity Insights, Prosperus targets acquisitions in the €5m to €10m bracket, homing in on innovative and growth-driven enterprises.
Charting a Transformative Path in IT Investment
Under the auspices of Prosperus Technology Group, Neos is the second gem to be embraced, joining forces with a prior investment, SV Group. Together, these entities amassed over HRK 106m in revenue and HRK 20.6m in EBITDA in recent evaluations.
In essence, the Neos acquisition is emblematic of Prosperus Growth’s strategic venture into creating a high-growth IT network. The synergy, foresight, and capitalization laid down through this acquisition talk of not just great ambitions but of a futuristic plan poised to set new benchmarks in the Croatian and regional domains.
Stay tuned for more such captivating stories by visiting our platform or getting in touch with us via [email protected].
