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Read the news releases from Horizonte Venture Management GmbHLatest news
Horizonte sells stake in BRIGO...09 Oct 2009
BIA Separations signs € 8...
02 Mar 2009
FRATELLO TRADE completes IPO s...
13 Jan 2009
Horizonte sells stake in Styro...
04 Dec 2008
FRATELLO TRADE launches IPO
03 Dec 2008
Horizonte sells stake in BRIGO Invest GmbH
09 Oct 2009
Horizonte announced today the sale of its stake in BRIGO Invest GmbH. Through its 100% subsidiary BRIGO Invest d.o.o. the company operates a production plant for brown coal briquettes in Banovici, Bosnia and Herzegovina. The stake was sold to EPS Lastro d.o.o., a leading producer of styropor products in Bosnia and Herzegovina, for an undisclosed price.
"After having successfully completed the start of operations of the greenfield investment into a state-of-the-art coal production plant BRIGO Invest will be developed further with the support of EPS Lastro d.o.o., a company which has already demonstrated its capability to successfully develop a business in Bosnia & Herzegovina in the long-term. BRIGO Invest is one of the examples where foreign investments have turned into long-term value added for the Bosnian economy while also creating an attractive double digit return for investors", says Mag. Martin Wodak, Horizonte Partner.
BIA Separations signs € 8 m loan contract with EIB
02 Mar 2009
Vienna/Klagenfurt/Ljubljana - Horizonte Venture Management (Horizonte) is pleased to announce that its portfolio company BIA Separations d.o.o. (website: www.biaseparations.com) has signed a loan contract in the amount of € 8 million with the European Investment Bank ("EIB") on March 1, 2009 under EIB's Risk Sharing Financing Facility. According to EIB officials the loan constitutes the first direct loan of EIB to an SME at all. The signing ceremony took place in Ljubljana with the participation of Philippe Maystadt, president of EIB, and Slovene government officials.
The loan will be used by BIA Separations to continue the further successful development of its business including the set up of a new state-of-the-art production plant in Ajdovscina/Slovenia and the execution of R&D projects, an overall project volume of approximately € 24 million.
Dr. Matej Penca, Managing Partner of Horizonte Venture Management, commented: "This is another important step in the development of BIA Separations to become a global leader as supplier of "intelligent filters" to the biopharmaceutical industry. Through the financing from EIB BIA Separations is in the position to translate its excellent technological position into a leading market position in this growing industry."
BIA Separations is the only worldwide manufacturer of Short Monolithic Columns optimized to meet the research and production needs of the biotechnology industry in the field of innovative liquid separation biochromatography. The company is headquartered in Klagenfurt, Austria and currently has two subsidiaries: the Slovene subsidiary, located in Ljubljana, consists of Research & Development as well as Production facilities and a sales office located in Wilmington, Delaware (US). Through both internal initiatives and external collaborations, this ISO 9001:2000 certified company pursues the highest quality standards in its research, development, production, and customer service efforts. The company's analytical lab is FDA audited. BIA Separations has strategic co-operations with Agilent Technologies Inc. (NYSE: A) and Boehringer Ingelheim.
FRATELLO TRADE completes IPO successfully
13 Jan 2009
Vienna/Banja Luka - Horizonte Venture Management (Horizonte) is pleased to announce that its portfolio company FRATELLO TRADE a.d., Banja Luka, (website: www.fratello-trade.com) has completed its initial public offering (IPO) - the first IPO ever in Bosnia and Herzegovina - of newly issued common stock on the Banja Luka Stock Exchange successfully.
The company issued 216.027 new shares in an initial public offering in Bosnia and Herzegovina and through private placements to a number of investors in other jurisdictions. The price of the offer was set at BAM 4,- (€ 2.05) per share and the company was able to raise a total capital of approximately € 442k. The public trading of the shares is scheduled to start on the B market segment of the Banja Luka Stock Exchange at the end of January 2009.
FRATELLO TRADE a.d. specializes in the trade, packing and distribution of frozen fish and fish related products, frozen fruits, vegetables, ice cream, conserved fish, olives and olive oil with a distribution network in Bosnia and Herzegovina, Serbia and Montenegro. FRATELLO TRADE a.d. is the second largest fish distributor in Bosnia and Herzegovina and Montenegro and the largest exporter of frozen fish and fish products from Bosnia and Herzegovina to Serbia and Montenegro. In Serbia FRATELLO TRADE a.d. is among the leading five companies in this industry.
FRATELLO TRADE a.d. intends to use the net proceeds of this offering for the further expansion of its business including investments into its storage capacities, working capital and potential acquisition of a company in Montenegro. In the year 2007 the company had net sales of € 5.6 million and the company plans to increase its sales in the year 2013 to € 12.6 million. FRATELLO TRADE a.d. has the goal to become the leading company in the distribution of frozen sea fish and seafood in Bosnia and Herzegovina and Montenegro and to be among the leading three companies in this industry in Serbia.
FRATELLO TRADE a.d. is certified under the ISO 900:2000 and HACCP standards.
Advantis Broker a.d. (website: www.advantisbroker.com), Banja Luka, has acted as underwriter, coordinator and bookrunner of the IPO.
Dr. Alfred Matzka, Managing Partner of Horizonte Venture Management, commented on the listing: "We consider the successful completion of FRATELLO's IPO, which has received strong support from IFC as well as from local authorities as the first IPO ever in Bosnia and Herzegovina, an important milestone for the company and for the region in terms of development of the local capital markets. We are proud that we have again participated in a pioneering effort in the region."
More information on the IPO can be found under the following weblink:
http://www.blberza.com/v2/emitentobjave.aspx?hartijaid=1480
Horizonte sells stake in Styromal d.o.o.
04 Dec 2008
Vienna/Sanski Most - The sale of Horizonte's stake in Styromal d.o.o. was announced today. The company specializes in the production and distribution of plaster material and glues. Styromal was sold to Skrle Promet d.o.o., a leading wholesaler of construction materials in Bosnia and Herzegovina.
During Horizonte's investment the company has erected a greenfield state-of-the-art production facility in Sanski Most / Bosnia and Herzegovina with an annual production capacity of 60.000 t. Today the company supplies the markets in Bosnia and Herzegovina with its first class products.
Dr. Matej Penca, Horizonte Managing Partner, commented: "After having developed Styromal successfully from scratch we are convinced that the company will continue its successful development capitalizing on the distribution power of its new owner. This exit shows that state-of-the-art projects are interesting acquisition targets also in difficult economic times."
FRATELLO TRADE launches IPO
03 Dec 2008
Vienna/Banja Luka - Horizonte Venture Management (Horizonte) is pleased to announce that its portfolio company FRATELLO TRADE a.d., Banja Luka, (website: www.fratello-trade.com) has launched its initial public offering (IPO) of newly issued common stock on the Banja Luka stock exchange today.
- - Up to 295.000 shares of FRATELLO TRADE a.d. will be offered at a price range of KM 4.- (€ 2.05) to KM 5.20 (€ 2.66).
- - The period for subscription and payment will start on 18th December 2008 and will terminate on 29th December 2008.
FRATELLO TRADE's IPO is the first IPO ever in Bosnia & Herzegovina. FRATELLO TRADE a.d. specializes in the trade, packing and distribution of frozen fish and fish related products, frozen fruits, vegetables, ice cream, conserved fish, olives and olive oil with a distribution network in Bosnia and Herzegovina, Serbia and Montenegro. FRATELLO TRADE a.d. is the second largest fish distributor in Bosnia and Herzegovina and Montenegro and the largest exporter of frozen fish and fish products from Bosnia and Herzegovina to Serbia and Montenegro. In Serbia FRATELLO TRADE a.d. is among the leading five companies in this industry.
FRATELLO TRADE a.d. expects to raise between € 423k and € 784k and intends to use the net proceeds of this offering for the further expansion of its business including investments into its storage capacities, working capital and potential acquisition of a company in Montenegro. In the year 2007 the company had net sales of € 5.6 million and the company plans to increase its sales in the year 2013 to € 12.6 million. FRATELLO TRADE a.d. has the goal to become the leading company in the distribution of frozen sea fish and seafood in Bosnia and Herzegovina and Montenegro and to be among the leading three companies in this industry in Serbia.
FRATELLO TRADE a.d. is certified under the ISO 900:2000 and HACCP standards.
Advantis Broker a.d., Banja Luka, has been appointed as underwriter, coordinator and bookrunner of the IPO.
Dr. Alfred Matzka, Managing Partner of Horizonte Venture Management, commented on the listing: "The IPO is an important milestone for FRATELLO. It is exciting to be part of a story that started with a vision in 1996 and which today is breaking new ground through the first IPO in Bosnia and Herzegovina ever. The proceeds will enable FRATELLO to continue its strong growth path in order to become a regional market leader."
Upon completion of the offering and assuming that all offered shares will be subscribed, there will be 1,218,433 shares outstanding and new shareholders will hold approximately 24.2% of the company.
For more information on the IPO please contact: "Advantis broker" JSC Banja Luka: +387 51/348-900; website: www.advantisbroker.com; e-mail: branko.kecman@advantisbroker.com.
The information contained herein is not for publication or distribution in the United States of America. This press release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from Fratello Trade a.d. and that will contain detailed information about the company and management, as well as financial statements.
Horizonte sells stake in Axon Neuroscience F&E GmbH
06 Oct 2008
The sale of Horizonte's stake in Axon Neuroscience F&E GmbH was announced today. The company develops drugs against Alzheimer's disease. During Horizonte's investment Axon developed the first transgenic rat model for Alzheimer's disease and has been able to develop a systematic approach for the identification of lead substances.
The company expects to enter phase I clinical trials with its proprietary drug candidate in 2009. The stake was sold to a group of Swiss investors.
"The development of a new drug takes more time than the investment cycle of a single venture capital fund. The new investors have recognized the long-term potential of Axon and are willing to support the company in its further development", says Dr. Alfred Matzka, Horizonte Partner.
BRIGO Invest opens coal briquette plant
02 Oct 2008
Horizonte's investee company BRIGO Invest d.o.o. has opened the first coal briquette plant in Bosnia and Herzegovina in Banovici on September 2nd, 2008. The inauguration took place in the presence of FBiH's Prime Minister Nedzad Brankovic. The plant has an annual production capacity of 75.000t of coal briquettes. The company has set up a state-of-the art production facility using the latest Western European technology. In the first stage of expansion the plant will create 30 new jobs. Elma Serbo, Horizonte's country manager for Bosnia and Herzegovina, stated: "This project is the first step in a series of projects planned by BRIGO Invest to make use of so far unutilised energy resources in BiH and its neighbouring countries. The project benefits both the local economy through an increase in the value added as well as the international community to meet its growing demand for energy."
Job Vacancy: Senior Investment Professional on Partner Level - Austria / Germany
14 Aug 2008
Horizonte Venture Management ("Horizonte") is an advisor of a leading European manufacturer of environmental technologies which will be the sponsor of a venture capital fund in the field of sustainable energy and resources. The management team headed by members of the industrial sponsor should be completed with a
Senior Investment Professional on Partner Level
Austria/Germany
For more information please click on the link above.
BIA Separations teams up with Agilent from California - June 1 2008
04 Jun 2008
Ales Strancar, MD of BIA announced a new partnership for its revolutionary chromatographic separation and purification technology of large bio-molecules to Agilent - the world's premier measurement company and a technology leader in life sciences and chemical analysis.
"The partnership between Agilent and BIA Separations will make this new technology available to the analytical bio-chromatography market and will allow BIA Separations to focus its marketing and sales activities on preparative and process scale bio-chromatography applications," said Ales Strancar, BIA Separations managing director
"Having access to the bio-monolithic technology allows Agilent to provide enabling solutions for the analytical separation of virus particles, plasmid DNA, antibodies and other macro bio-molecules," said Helen Stimson, vice president and general manager of Agilent's Global Columns and Supplies Solutions. "This technology, when applied at the analytical scale, will improve bio-drug characterization in development and allow QA/QC and process control labs to better monitor and characterize the production of biologics."
Horizonte has played an active role as lead investor in the Slovenian company for several years. "The company is truly at the cutting edge of technology, this contract proves that with patience and determination the sector is truly alive in the region of Southeast Europe and we will continue to look for such opportunities in the future" stated Dr Matej Penca, Partner of Horizonte Venture Management.
For more information:
www.chem.agilent.comwww.biaseparations.com
Horizonte launches the Challenger Growth Fund for Southeast Europe - 2ndApril , 2008
07 Apr 2008
In the past three months Horizonte has been marketing its new South East Europe Fund, the Challenger Growth Fund, to a large group of European investors. The Fund will target mid cap companies with strong management teams and a potential to become regional leaders and achieve rapid growth. The Fund will be Horizonte's fourth fund focused on this region. It is designed to offer significant opportunities to investors looking for a General Partner with a good track record in the region, a hands-on approach and an innovative strategy that brings enhanced investment management skills to the investment process.
The fund-raising was kicked-off in January 2008 and so far Horizonte has met with several dozen institutional and private investors. Martin Wodak, Managing Partner of Horizonte, believes the strategy is well defined and effective: "We have now been actively marketing for 12 weeks, and the feedback has been extremely positive. The region of South East Europe is dynamic, the profile of companies being targeted makes real sense and our investment strategy, with our on-the-ground presence , is well timed. Right from the beginning, before we even consider an investment, we define an exit strategy which together with our management skills and high level of involvement in the portfolio companies create a solid investment case. This, we believe, is what makes our Fund a very attractive proposition to the LPs and a good sign for the region as a whole."
Horizonte has been ably assisted by Iberian Capital (www.iberiancapital.com) - an investor advisor and placement agent with a strong background in Central Eastern Europe.
BIA separations raises fresh financing
14 Jan 2008
Slovenian Bio Tech Firm BIA separations launches its medium term strategy and announces a 20% growth in sales for 2007 - Ljubljana 10th January
The completion of a €3.1m capital increase in late 2007 helped to cement BIA's mid term strategy highlighted by a growth of 20% in sales. The investors - from Slovenia and Austria - are now seeing the fruits of their investments: the opening of two representative offices on the East and West coasts of the USA while in Slovenia plans are now in full preparation to transform a 6000m2 site in Ajdovščina, Slovenia into the new manufacturing premises fit for a company that is fast becoming a leader in the design development and manufacturing of Short Monolithic Columns.
Horizonte BiH Enterprise Fund and Triland sell off their first Real Estate project in Sarajevo
09 Jan 2008
Horizonte and Triland signed the sale agreement for its prestigious "KOSEVSKA HILLS" residential complex comprising of 20 luxury apartments in the very heart of Sarajevo. The buyer is a leading real estate fund from Austria.
The residential site was completed in 2002 and has been fully occupied ever since, attracting rentals from multinational companies and leading local tenants. Kemal Sikiric the Horizonte Investment Manager working for the Horizonte Bosnia and Herzegovina Enterprise Fund stated "This project was one of the very first real estate developments in down town Sarajevo and became an 'ice-breaker' for the real estate sector that has since developed in the capital of Bosnia and Herzegovina."
A new residential project gets the green light
08 Jan 2008
HVM is pleased to announce that it will be co-financing a new real estate project (West Residence d.o.o.) with a total investment volume of EURO 9.500.000. The project envisages the construction in Stup (west part of Sarajevo) of a modern residential area. The site has been chosen for its location near to green areas and the mountains. The apartments will be targeting Sarajevo's younger families and professional couples- with modern, well appointed apartments ranging from 40-70m2, and within proximity of a school. The start of construction is planned for April 2008! Elma Serbo, Country Manager for Horizonte in Bosnia stated: " our real estate expertise is building up fast and we feel that Sarajevo is rapidly becoming a place where these kind of projects really begin to make sense... this is our fourth real estate project in the city and we look forward to more."
Rapid progress being made new Car Park for Sarajevo
15 Nov 2007
It has taken 133 days to come to this stage of the first purpose built car park in Sarajevo. This new development made possible by a Km 4.3m investment by Horizonte Venture Management The Project Managers’ plan to open the doors of the garage by the end of December 2007. The plan is also to sell permanent spaces to the public. For more information please contact Jasmina Rosa on 033-276-211.
New plaster production facility opens in Sanski Most, Bosnia and Herzegonvina
20 Oct 2007
Styromal - a Horizonte investment launched production of plaster materials and glues for the construction sector. The total investment amounted to Euro 1,7 million with equipment being supplied from Italy. “The plant can produce 60,000 tons and we are currently selling in Bosnia and have just started exporting to Serbia” announced the Miroslav Ragusz, General Manager for the factory. The equipment which is state of the art is fully automatized. “Limestone is a key ingredient in the product…..Styromal’s limestone is locally quarried and is of a very high standard which has allowed us to offer to the regional market a local product with a global standard” Stated Lejla Ibrahim-Pasic, investment manager for Horizonte.
Magnetic Resonance Clinic opens in Serbia
15 Oct 2007
Novi Sad - MAG-MEDICA the new diagnostic centre and a Horizonte portfolio company held its official opening a few days ago. Over 80 people attended the opening of the clinic which houses one of the most modern magnetic resonance facilities currently available in any private practice in Serbia. This project has been a model of how to manage a foreign investment. We have been able to establish strong and professional relations with local authorities, the medical community and our partners in the project.” Said Lejla Imbrahim-Pasic during a tour of the clinic.
Bia Separations host a royal visit
04 Oct 2007
Prince William and Princess Maxima were hosted by Horizonte’s star portfolio company Bia Separations during an official Royal visit to Slovenia. Bia Separations is a world class bio tech company and the Royal Couple were able to see first hand the laboratories and meet the talented teams that specialise in liquid chromatographic methods and developing monolithic materials for the next century.
More information
NORTIA signs a long term loan contract
27 Sep 2007
Horizonte signs the contact with BICRO
13 Sep 2007
On 13.09.2007 Horizonte signs the contact with BICRO (the Business Innovation Centre of Croatia) and the World Bank to manage the first technology oriented fund in Croatia. The commitment of the World Bank and BICRO consists of € 4.5 million in anchor funding for a €15m fund that will be targeting Croatia’s start ups focusing on technology and innovative concepts. “We are truly excited to be involved in the management of this fund which will be a highly effective source of intelligent capital for some of the many great Croatian companies seeking to expand and develop innovative ideas”. Stated Kemal Sikiric and Dino Bendegovic, Joint Managing Directors (designate) of the fund.
Horizonte launches a new magnetic resonance clinic in Novi Sad
31 Aug 2007
Horizonte completes its first investment in Serbia with the opening of a modern, diagnosis and scanning centre. The clinic will operate a latest generation magnetic resonance scanner that will provide a full service to Novi Sad and outlying areas. The MR scanner, the Avanto 1,5 “Tesla” will begin operations in Novi Sad the first week of September. The total investment amounts to Euro 1,7 million.
The clinic is located in a fully upgraded setting meeting all licensing criteria for space, safety and cleanliness and is close to the main Hospital in Novi Sad. The General Manager Darko Simonovic underlined the vision of the clinic “is to introduce a fast and reliable service, supported by a professional, committed and qualified team of doctors providing the highest standards of health care for the region.”
HACCP and ISO 9001:2000 awarded to a Horizonte Portfolio Company.
30 Aug 2007
Fratello, a Horizonte Portfolio Company, from Banja Luka was recently awarded the HACCP certificate and ISO 9001:2000. These standards allow companies to compete globally and to maintain the highest standard of operations. HACCP is a globally recognised standard in the food industry that monitors processing standards. Both certificates were issued by T¿½V Rheinland GmbH.
The General Manager Mario Derajic stated on receiving the awards “Fratello is one of a very small group of companies from Bosnia to have the ability to reach these European Union standards. As the largest exporter of frozen foods from Bosnia we took a strategic decision to pursue best practice for the company and this year alone our sales grew by 40%. I can put a lot of this growth down to our dynamic strategy.”
Article from the Wirtschaftsblatt - Austria
11 Aug 2007
Waste coal dust turned into briquettes for the European market
30 Jul 2007
Horizonte invests in a new coal briquette production facility in Banovici, Bosnia and Herzegovina. BRIGO Invest d.o.o. will commence production of coal briquettes in April 2008 following a total investment of Euro 2.7 million. This innovative project will recycle waste coal dust and transform this into high energy briquettes.
Production will be completely export oriented targetting the EU. The operations are state of the art and fully automatized with 20 new work places being created. "This plant aims to turn waste into a high energy product. I am proud to say that this isd the first plant of its kind in the region" stated Marinko Lastro, Horizonte's partner in the project.
Article from the Wirtschaftsblatt - Austria
09 Jul 2007
Nortia successfully closes a contract
30 Jun 2007
Croatian Agency for Business Innovation announces HORIZONTE wins competitive tender to manage new Croatian Technology Fund
27 Jun 2007
Horizonte was selected in a competitive tender by the Business Innovation Centre of Croatia (Bicro) and the World Bank to manage the first technology oriented fund in Croatia. Reacting to the annoucement Dr Alfred Matzka of Horizonte said:
"This process is a real testiment to the progress Croatia is making towards EU accession and I congratulate the Croatian Government and World Bank for this initiative. Equity and know how are both in real need to secure a future for early stage technology companies. As a managing partner in Horizonte I am particularly excited to mobilise our venture capital know how in the pursuit of developing Croatian technology companies that can become world beaters - something that we feel we have achieved in Slovenia"
HR company launched in BiH
27 May 2007
Horizonte launches in Sarajevo a new Human Resource company for the region. Recognita will focus on blending training consulting and placement to the growing medium sized company sector.
After having launched its first branch in Zagreb Recognita has now made the second step in its strategy to offer human resource services to the countries of South East Europe.
"This is another important step in the development of Recognita, which strives to become the leading HR company in the region of South East Europe.", says Kemal Sikirić, Horizonte Investment Manager.
Construction begins on multi storey car park
22 May 2007
Horizonte and its local partners announced the start of construction of a new multi storey car park - the first in the last 25 years.
This modern, multi level, high security residential garage in Sarajevo will be located in Ciglane a residential area in the centre of Sarajevo. The project is planned to be completed by October 2008.
"The project will help provide secure car parking and will contribute to moving more cars off the already clogged streets of Sarajevo", says Elma Serbo, Horizonte Investment Manager.
The investment includes the construction of a new children's playground.
New Retail Site Sarajevo
27 Apr 2007
US Ambassador breaks ground on a state of the art retail site in Sarajevo. The "Alta Shopping Centre" is being developed and financed jointly by US firm Triland and Horizonte and represents the USA's largest investment in BiH.
With total investments of €18 million a state-of-the-art shopping mall is being erected in the heart of Sarajevo's Marindvor district opposite the parliament.
"With this investment we offer the people in Sarajevo a shopping mall that combines European style housed with a International mall environment.", says Dr. Alfred Matzka, Managing Partner of Horizonte.
HR company launched in Croatia
15 Apr 2007
Horizonte launches in Zagreb a new Human Serouce company for the region. Recognita will focus on blending training consulting and placement to the growing medium sized company sector.
The company intends to cover the region of South East Europe with human resource services according to West European standards - a market segment that is currently undersupplied in the region - and to become a leading company in this field.
Horizonte sells stake in Keko Varicon
10 Apr 2007
The sale of Horizonte's stake in Keko Varicon was announced today. The company produces and distributes ceramic electronic voltage surge protective components.
During Horizonte's investment Keko Varicon developed from a small electronics boutique to an internationally recognized company supplying the leading European car manufacturers including Volkswagen, Audi, BMW and Daimler Chrysler.
The company was sold to a group of Slovene investors.
"A successful exit means selling to partners who will take the company to new heights - we have achieved this 100%", says Dr. Matej Penca, Horizonte Partner.
Styrotherm I - sold to the management
05 Apr 2007
Horizonte announces the sale of its stake in Styrotherm I, Cazin, BiH, in a management buy-out.
Through Horizonte's investment a greenfield state-of-the-art styropor has been established in Cazin together with local partners, who have developed into leading suppliers of insulating materials supplying both the domestic and foreign markets.
The company has been sold to the management. "Selling to the management is often a perfect exit. In the case of Styrotherm I the management buy-out ensures the further successful development of the company", said Elma Serbo, Horizonte Investment Manager.
Investment in regional Digital ad. Company
28 Mar 2007
Horizonte is pleased to announce a major investment in Nortia d.o.o. - Croatia's state-of-the-art digital advertising company. Nortia d.o.o. will be focusing on indoor and outdoor advertising and will use the very latest advertising technology.
The company will install its advertising equipment in Croatia's largest shopping centre "Avenue Mall" in Zagreb which is scheduled to open in August 2007.
In a later stage the company plans a roll-out to the region of South-East Europe.
