Acquisitions in Hungary

Banyan Software, Inc. acquired Flexi Medical Cloud Zrt. (Flexi-Dent), a Hungary-based provider of practice management software tailored for dental practices. Founded in 2012, Flexi-Dent offers an all-in-one platform covering functions such as CRM, patient document management, treatment tracking, profitability management, and invoicing.

PTC announced the acquisition of IncQuery Group to expand its application lifecycle management (ALM) and systems engineering capabilities. IncQuery Group provides ALM and systems engineering development and consulting services to global manufacturers and product companies, strengthening PTC’s broader engineering and product development portfolio including PLM integrations.

Roto Window and Door Technology (Roto FTT) acquired the remaining 50% stake in Elzett Sopron Felületkezelő Kft., taking full ownership of the Hungarian surface treatment company. The stake was purchased from DOM Security Société par actions simplifiée, and Roto FTT plans to invest to expand capacity and strengthen its window and door hardware manufacturing supply chain.

Funds managed by CVC (including CVC Capital Partners IX) have agreed to acquire a majority stake in Partner in Pet Food (PPF), a pan-European pet food manufacturer. Existing sponsor Cinven will sell down its position but retain a minority stake alongside PPF management, with the deal expected to close in 2024 subject to regulatory approvals. Financial terms were not disclosed.

TI Fluid Systems acquired Cascade Engineering Europe (CEE), a wholly owned subsidiary of Cascade Engineering, Inc. headquartered in Budapest, Hungary. The deal supports TI Fluid Systems' electrification strategy by expanding its capabilities and market share in thermal fluid connectors and related plastic injection molded components for electric vehicles.

Leadec, a Triton Fund IV portfolio company, acquired Hungary-based FISS Automatika Kft. effective May 31, 2023. The deal expands Leadec’s footprint in Hungary and strengthens its electrical engineering and automation capabilities, particularly in the Debrecen industrial region. FISS Automatika’s owners, János Bényei and István Eszenyi, agreed to the company joining the Leadec Group.

Eurofins Scientific announced the completion of its acquisition of WESSLING Hungary, an environmental, food, and BioPharma product testing laboratory business. The deal expands Eurofins’ laboratory footprint in Hungary and strengthens its position in Central and Eastern Europe for BioPharma product testing.

HCL Technologies signed a definitive agreement to acquire Starschema, a Budapest, Hungary-based provider of data engineering consulting, technology, and managed services. The acquisition is intended to bolster HCL's digital engineering capabilities and expand its presence in Central and Eastern Europe. 7 Mile Advisors served as the exclusive sell-side advisor to Starschema on the transaction.

X-Chem, a portfolio company of GHO Capital Partners, acquired Glamorous AI and ComInnex to expand its small molecule drug discovery capabilities. Glamorous AI adds machine learning-driven drug discovery software, while ComInnex adds European-based synthetic chemistry services and novel chemical technologies to broaden X-Chem’s global footprint and service offering for biopharma customers.

Waterlogic has acquired 100% of the shares of Waterconcept Hungary Kft, a Budapest-based supplier of mains-fed water dispensers focused on the premium HoReCa segment. The deal adds Waterconcept’s Thoreau brand and customer venues to Waterlogic’s hospitality offering in Hungary, complementing Waterlogic’s Purezza Premium Water brand. Waterlogic is backed by private equity firm Castik Capital and is pursuing a buy-and-build strategy.

MidEuropa agreed to sell 24% of Waberer's International Nyrt. to Trevelin Holding Zrt. (Indotek Group) and granted Indotek a call option to acquire MidEuropa’s remaining 47.99% stake. The deal is subject to customary antitrust clearance and was expected to close by the end of the first quarter of 2021.