Croatian private equity fund Prosperus Growth has acquired a controlling interest in Neos, a Zagreb-based provider of advanced IT solutions, as part of its growing investment focus on cloud management and business analytics.

Neos specialises in data analytics, rapid application development, cloud integration, and IT infrastructure. The company serves clients across financial services, telecommunications, and the public sector, and recorded HRK 63.1m in revenue and HRK 14.5m in EBITDA in 2020, with an EBITDA margin above 22%.

This transaction marks the second investment under Prosperus Technology Group, the fund’s platform dedicated to high-growth IT companies. Prosperus previously backed SV Group, and the two businesses together generated over HRK 106m in combined revenue and HRK 20.6m in EBITDA in 2020.

Joško Miliša, President of the Management Board at Prosperus-Invest, said: “Through a strategic partnership with Neos, we have confirmed the orientation of the Prosperus Growth fund towards successful and promising IT companies that have top knowledge, and whose owners need partners with whom they will take their business to the next level. We are convinced that Neos will achieve significant revenue growth in the coming period while maintaining the desired EBITDA margin, to the satisfaction of all our partners and investors.”

Davorin Capan, Member of the Management Board at Neos, added: “I am convinced that Neos’ new partnership with the Prosperus Growth fund will bring a synergistic effect of the knowledge we bring from the IT perspective, and Prosperus-Invest from the perspective of the investment management company. Business development, portfolio expansion and customer base are our goals, and that is the reason why we at Prosperus Growth have recognised a strategic partner.”

The Prosperus Growth fund raised €50.9m through a private offering, with 49.99% of its capital provided by the European Investment Fund (EIF) and the Croatian Bank for Reconstruction and Development (HBOR) under the CROGIP programme. At least 75% of the fund’s capital is earmarked for Croatian companies, with remaining investments targeting regional opportunities. The fund targets deals in the €5m to €10m range, with a focus on differentiated, growth-oriented businesses.

If you think we missed any important news, please do not hesitate to contact us at news@pe-insights.com.

Can`t stop reading? Read more.