Dumagas transportation company taken over by UK's Bancroft

Bancroft Private Equity investment fund has taken over more than 50% in Dumagas, one of the biggest transportation companies on the Romanian market, with 28 million euros in turnover last year, in a deal put at 10 to 20 million euros by players on the transportation market. According to the same sources, the private equity fund acquired 60 % of the company controlled by the Dugăeşescu family, following negotiations that extended over nearly five months.
This makes Dumagas the second Romanian transporter to be partially held by an investment fund, after Alin Popa, who controls Edy Spedition, sold 17.5% in the company to Balkan Accession Fund in 2005.