Acquisitions in Greece

Universal Maritime Solutions (Unimed), a ZCG Private Equity-backed provider of medical and compliance solutions to the maritime industry, acquired Elssi Maritime Services, a Greece- and Cyprus-based drug and alcohol testing provider for the maritime sector. The acquisition adds specialized testing services (including drug and alcohol testing, drinking water analysis, and benzene testing) to Unimed’s global maritime compliance and health-and-safety offering and will be integrated into Unimed’s technology platform.

ACI Worldwide acquired Payment Components, a European fintech provider of AI-powered financial messaging and Open Banking solutions. Payment Components’ technology, intellectual property, team, and customer relationships will be integrated into ACI Connetic to strengthen intelligent payments orchestration across account-to-account payments, API management, and messaging. Financial terms were not disclosed and ACI indicated the deal is not expected to be financially material.

The EY organization, via ERNST AND YOUNG Single Member Societe Anonyme for the Provision of Advisory Services, has acquired Aqurance A.E., a Greece-headquartered Veeva services partner. The deal expands EY’s Veeva Centers of Excellence and strengthens its clinical, regulatory, commercial, and digital transformation capabilities for global pharmaceutical and biotechnology clients using Veeva Vault and related applications.

Banyan Software acquired Veritech S.A., doing business as Classter, a Greece-based education technology company providing an end-to-end, modular cloud-based student information system for schools, academies, and universities worldwide. Classter, founded in 2015 by CEO Nikolaos Nikou, offers tools spanning student information management, academics, admissions, billing, and communications.

PureHealth Holding PJSC completed the acquisition of a 60% stake in Hellenic Healthcare Group (HHG) for EUR 800 million, implying a total equity valuation of EUR 1.3 billion for HHG. Following the transaction, HHG’s hospitals and diagnostic centres will be integrated into PureHealth’s international ecosystem, while CVC Capital Partners and HHG management retain a 40% stake.

Metlen Energy & Metals PLC (Metlen PLC) announced the successful completion of its voluntary public tender offer to acquire the remaining ordinary registered shares of Metlen Energy & Metals S.A. (Metlen S.A.) that it did not already own. Shareholders tendered approximately 90.16% of Metlen S.A.’s share capital and voting rights during the acceptance period, satisfying the offer’s acceptance and admission conditions, with consideration paid in newly issued Metlen PLC shares on a 1:1 exchange ratio.

Constant Contact acquired Moosend, an email marketing and marketing automation platform, from Sitecore. The deal is intended to strengthen Constant Contact’s SaaS marketing platform and expand its international footprint, particularly in Europe/EMEA, while Moosend will continue to power Sitecore’s Send solution for existing and new customers. Financial terms were not disclosed.

TAO Digital Solutions Inc. acquired Software Competitiveness International (SCI), a provider of advanced software engineering and ICT services. The deal expands TAO’s European footprint by adding SCI’s operations in Athens, Greece and Darmstadt, Germany, and strengthens capabilities in sectors including automotive, industrial, telecommunications, and aerospace software engineering.

TITAN Group announced the acquisition of LATEKAT, a family-owned aggregates quarry business in the Thessaly region of Central Greece. The deal expands TITAN’s reserves base in Greece and supports its vertical integration strategy across aggregates and ready-mix concrete operations.

Piraeus Bank S.A., a subsidiary of Piraeus Financial Holdings S.A., agreed to acquire and later completed the acquisition of the parent company of Ethniki Insurance from CVC Capital Partners Fund VII and the National Bank of Greece. The transaction was completed for €0.6 billion in cash and results in Piraeus owning 100% of Ethniki Insurance’s parent, integrating a leading Greek composite insurer into the Piraeus Group.

Abu Dhabi Future Energy Company PJSC – Masdar completed the acquisition of 70% of the outstanding shares of TERNA ENERGY SA, becoming the majority shareholder of the Greek renewable energy company. Masdar acquired the shares from GEK TERNA SA and other shareholders at €20 per share, valuing TERNA ENERGY at an enterprise value of €3.2 billion, and plans to seek regulatory approval to launch an all-cash mandatory tender offer for the remaining shares.

MidEuropa agreed to acquire (and subsequently completed the acquisition of) a controlling/majority stake in FAMAR, a pharmaceutical contract development and manufacturing organization (CDMO). The stake was purchased from ECM Partners and Metric Capital Partners, with current shareholders and FAMAR’s management team reinvesting and retaining a minority position.

Orbyt Global has acquired a 94.09% stake in OTE Group’s maritime communications division, Otesat-Maritel. Financial terms were not disclosed. The transaction brings Otesat-Maritel’s satellite communications and integrated IT systems into Orbyt Global, with plans to enhance and run both companies’ maritime communications platforms in parallel.

Macquarie Asset Management, on behalf of co-investors and managed funds, acquired a 50% stake in Enel Green Power Hellas from Enel Group for approximately €250 million in equity value. Enel Green Power Hellas is a Greece-based renewable energy developer and operator with a 566 MW portfolio of wind, solar, and hydropower assets in operation or under construction. The transaction has reached financial close; detailed terms beyond consideration were not disclosed.

Bain Capital Special Situations, through its wholly owned Greek leasing company Hellas Capital Leasing (HCL), acquired 100% of Sunshine Leases, a financial leasing subsidiary of Piraeus Bank S.A. The deal includes the Sunshine Portfolio of non-performing exposures with a gross book value of approximately €500 million, secured largely by commercial real estate and hotel assets. The acquisition further expands Bain Capital’s presence in the Greek NPL and leasing-portfolio market.

BC Partners, through BC Partners GR Investment LP (BCPGR), signed a definitive agreement to acquire a majority stake in Metropolitan College and AKMI IEK, leading post-secondary education providers in Greece. The founders, Konstantinos and Kalliopi Rodopoulos, will remain shareholders and continue supporting the business, with closing expected by Q2 2023 subject to regulatory approvals.

Transifex, a continuous localization SaaS platform, announced it has been acquired by PARC Partners to support continued growth with additional capital and management resources. As part of the transaction, Chris Reese will become CEO and Tony Pilnik will become President, succeeding founder Dimitris Glezos, who will remain an advisor. Operations will remain centered around the United States and Greece.

J.P. Morgan entered into an agreement with Viva Wallet and its existing shareholders to acquire an approximately 49% ownership stake in Viva Wallet, subject to regulatory approvals. Viva Wallet is a European cloud-based payments fintech headquartered in Athens, Greece; financial terms were not disclosed.

Finvasia Group announced it has acquired Zulu Trade Group, operator of the social trading network ZuluTrade. The transaction also includes AAAFx, which holds a portfolio management license from HCMC, strengthening Finvasia’s global fintech and financial services ecosystem.

Funds managed by Searchlight Capital Partners, L.P. entered into a definitive strategic investment agreement to invest in a new holding company, Celestyal Holdings, which will support the growth and fleet renewal of Celestyal Cruises. Louis PLC (Louis Group), the parent of Celestyal Cruises, will continue as a shareholder in the new holding company, while Celestyal Cruises continues to operate from Piraeus, Greece under its current management team.

BC Partners announced the sale of Pharmathen, a European pharmaceutical and drug delivery technology company, to Partners Group acting on behalf of its clients. The transaction values Pharmathen at approximately EUR 1.6 billion and is expected to close in 2021 subject to regulatory approvals.

Danaos Corporation exercised its option to acquire the remaining 51% equity interest in its joint venture, Gemini Shipholdings Corporation, for $86.7 million in cash (approximately $72.3 million net of Gemini’s cash balance). Following closing, Danaos will own 100% of Gemini and consolidate its financial results, including assuming Gemini’s debt.