Sale of the largest Romanian wholesaler and retailer of sport equipment

We have successfully completed the sale of Gipo, the largest player on the Romanian market for outdoor sports products.

The two owners of Gipo, after hard word to grow a corner-shop business into a multimillion company, had decided to retire. They mandated us to identify potential buyers and to manage the entire transaction.  Initially, we had contacted the so called trade buyers (companies in the same business, mainly from Europe).  The interest was not as strong as we had anticipated.  Thus, we had approached several private equity funds, and we had received offers from three.  We then negotiated and concluded the transaction with Gemisa Investments, transaction completed in October 2006.