Investment funds, which a few years ago paid record amounts forRomanian companies, are now looking for value in niche businesses,less targeted in times of economic boom.
The latest decade of economic growth brought to Romania biginvestment funds willing to allocate hundreds of millions of eurosto be part of the unprecedented growth of Romanian companies.
The peak was reached in 2008, when American fund AdventInternational paid 123 million euros for drugmaker Labormed.Another major deal had been concluded in 2003, when the sameinvestment fund became a shareholder of Terapia in exchange for 40million dollars.
Since the onset of the crisis, amounts allocated to the Romanianmarket by investment funds have been dwindling, with the 56million-euro low hit in the first nine months of this year.
The construction and real estate markets have been the"casualties", with investment funds now looking for value in lesstargeted companies in years of economic growth. The deals concludedin the past year confirm this: online platforms (Paravion.ro),printers (Infopress), HR companies (SmarTree) attracted investmentsfrom funds.
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