EBRD invests in M Plus Croatia, now owns 28.3% stake
ZAGREB, CROATIA — European Bank for Reconstruction and Development (EBRD) has invested €60 million ($75.3 million) in outsourcing firm M Plus Croatia, allowing the bank to own a 28.3% stake in the company.
President of the management board of Mplus Group Darko Horvat said that the alliance with EBRD is in response to the increased demand for their services, which required additional investments in their business process outsourcing (BPO) operations.
“The partnership with the EBRD as a leader in financing projects that foster economic inclusion – a priority for us as well – is a strategic and value-based choice, not just an economic one, Horvat said. “This partnership puts us in an active position that allows for accelerated expansion through acquisitions.”
The investment will consolidate companies part of the Mplus Group’s BPO vertical. The Mplus Group aims to use the funds to expand its position in the BPO industry mainly through acquisitions. The Group also looks to streamline business processes and create more employment opportunities in the region.
Apart from the Croatian market, Mplus Group will also provide EBRD access to 57 more markets around the world.
EBRD Regional Director for Central Europe Mark Davis praised the company’s innovativeness. He reaffirmed his commitment to support the Croatian economy through foreign direct investments.
The investment marks the private bank’s largest investment in the technology services sector in Southern Europe and largest overall in Croatia. This puts EBRD’s investment tally to Croatia’s economy at €4.7 billion (US$5.9 billion).
Since 2019, Mplus Group has expanded rapidly by adding two more vertical segments alongside BPO: the management of employment and human resources, and e-commerce. The group has 70 subsidiaries and 14,700 employees in 18 countries in its payroll. In their BPO segment, the Group has 12,500 employees.
Mplus Group holds a 68.7% stake in M Plus Croatia, and will still remain as the majority and controlling shareholder. MidEuropa has a 59.7% stake as a minority investor.
