Mirus Group to assist in the acquisition of Dentotal Protect by the private equity fund Abris Capital

The investment fund Abris Capital, one of the most active financial investors locally, bought Dentotal distributor of dental products in exchange for 15 million euros, according to ZF sources

The seller is the family of local entrepreneurs Dogariu who fueled business in 1991 and also owns the Mercure four-star hotel in downtown Bucharest, near the Amzei square.

The deal reached almost 80 million lei last year (17 million euros), after an increase of 16%. With more than 100 employees, the business made a net profit of 6.6 million lei, plus 14%. “We remember nostalgically of the beginnings of our company since 1991, when the four members of the Dogariu family started out as distributors of products dedicated to dental practices. In 1992, the newly established firm made its first import, “Dentotal officials say on their own site.

“The products we marketed at that time could be listed on one page, numbered 1 to 17, all of which were provided by Spofa Dental, products known and used in the vast majority of dental offices in the 1990s.”

Today, the company has several dozen vendors posted on its own site, so the number of products offered is much higher. The first employees were family members, and in 1996 the company made the first hiring, the team reaching today for 100 people.

This sale of the Dentotal business comes at a time when the Dogariu family bets on the hotel industry. More specifically, the family of entrepreneurs owning the Mercure four-star hotel in the center of the capital invests 10 million euros in an Ibis Styles hotel to be opened in the first quarter of 2020, according to ZF’s latest information. The new project will carry the Ibis Styles brand and will be rated at three stars and will be located in the center of the capital, near the Romanian Opera, ZF sources say.

The first industrial project for the Dogariu family was the Mercure Hotel, opened at the end of 2014 following an investment of about 9 million euros and has 114 rooms. The facility also features three conference rooms, a fitness center and an underground parking lot with 30 seats.

The transaction between Abris Capital and the Dogariu family was advocated by DLA Piper lawyers, PwC consulting firm, BAC investment bank, and Ionuţ Zeche from Mirus Group.

For Abris Capital, this transaction represents a return to business after last year sold 120 million euros to Urgent Cargus courier company, taken over by another investment fund – Mid Europa Partners. Abris Capital Partners is an investment-oriented private equity firm in Central and Eastern Europe, which was founded in 2007 and has three offices in Warsaw, Bucharest and Kiev, according to the latest ZF data. The Bucharest office was headed by Romanian Adrian Stanculescu. In addition to Dentotal, the fund also has the Pehart Tec paper producer in Romania and the Green Group active group in the waste processing segment.

For new investments, the fund has both the money it received from the sale of Urgent Cargus, but also those it raised in 2017. The private equity fund received 500 million euros from international investors and the money was to be used for investments in private companies, especially in Romania and Poland, but also in other regions of Central and Eastern Europe, officials of Abris said.

Contact an Advisor

If you have any questions regarding this topic and how it might have an impact on your business, please contact the Mirus Consultant with whom you regularly work, or:

Ionut Zeche

  • Tax & Legal
  • Bucharest
  • + 40 (31) 228 20 77