Europe Virgin Fund L.P. (‘EVF’), a regional private equity fund, has completed its investment in VENBEST Group, a leading private security services market operator in Ukraine. The founding shareholders retain substantial stakes in the business and will continue to manage VENBEST with support from EVF. The parties did not disclose the transaction value.
Founded in 1991, today VENBEST Group is the largest private operator in the market of security services in Ukraine, serving more than 25,000 customers. EVF strongly believes that VENBEST is positioned for further growth due to the considerable growth potential of the respective market in Ukraine and the anticipated sector consolidation trend.
«VENBEST is a good addition to our investment portfolio, which now consists of successful companies from Fast Moving Consumer Goods (FMCG), mass-media, pharmaceuticals and financial services sectors. Despite a difficult macroeconomic situation, which has almost completely halted private investment in the Ukrainian economy, we decided to invest in this business and this team. We strongly believe that economic growth will restore in Ukraine in the next few years, and therefore the domestic consumer market of over 40 million inhabitants, and, in particular, the market for services, will be the main driver of this Company’s growth. We are pleased to turn over a new leaf in the investment history of Ukraine, following the Revolution of Dignity. We will continue to look for further opportunities to support first-class companies and teams and participate in rebuilding a new Ukraine», — comments Alex Munteanu, Managing Director of Europe Virgin Fund.
«Throughout its history, VENBEST has gained a reputation as one of the most responsible and reliable partners in the Ukrainian security services market. Hard work, constant attention to customers’ needs and the desire to improve were the core elements of this achievement. Our services are used by both large corporate clients and private customers in all regions of Ukraine. We intend to keep providing each of these categories of clients with the best quality of service, reliability, and comfort of working with VENBEST in the future. We believe in the huge potential of the security services market, and it is very important for us that EVF shares our philosophy and intends to help us in achieving very ambitious targets», — said Georgiy Tupchiy, VENBEST co-founder.
«We have found a reliable partner in EVF, which will help us create a new driver for the company`s progress, focusing on business development, new service offerings, as well as VENBEST’s regional expansion», — added Vladymyr Dzyuba, VENBEST co-founder.
About VENBEST Group
VENBEST Group is a leading Ukrainian private company providing security services for over 24 years. The company provides services throughout the territory of Ukraine and offers customers comprehensive security solutions while taking into account their individual needs. The company`s most popular services include physical security of property and individuals, provision of technical security systems and facilities, as well as patrolling. VENBEST also has its own research and production center, which provides the Company with advanced technology in the field of technical security. Large companies such as METRO Cash & Carry, Kyivenergo, Privatbank, Oschadbank, Credit Agricole Bank, National Bank of Ukraine and many others are among VENBEST’s clients. The total number of objects guarded by VENBEST exceeds 25 thousand. VENBEST was founded in 1991.