November the 28th, 2023 – The European Bank for Reconstruction and Development (EBRD) is investing an enormous sum of money into the Zagreb company M Plus. Currently, this is one of the largest investments in Croatia.
As Poslovni Dnevnik writes, Mplus Grupa/Group recently made an extremely significant step forward in the development of its Business Process Outsourcing (BPO) business vertical. This was done by signing an investment agreement worth 60 million euros from the European Bank for Reconstruction and Development (EBRD) – which remains subject to regulatory approvals from the competent authorities.
By signing the contract, the EBRD will take over a 28.3 percent stake in the Zagreb company M Plus Croatia d.o.o. after all formal prerequisites are met. The Zagreb company M Plus is otherwise part of the wider Mplus Group and consolidates companies operating within the Group’s BPO business vertical. After the investment, the Mplus Group, which currently holds a 68.7 percent stake, will remain the majority shareholder with a 59.7 percent stake, while MidEuropa will continue to support the business as a minority investor.
The largest EBRD investment in the equity structure of a company in Southeastern Europe
This investment will also be the largest investment by the EBRD in the equity structure of a company in the technology services sector in the region of Southeastern Europe, and one of the largest investments in all of Croatia.
With the invested funds, the Zagreb company M Plus will continue expanding its business and consolidating its strategic position on the international BPO market, primarily through acquisitions. The group will also continue to improve the efficiency of all of its business processes and create new jobs in the more immediate region and beyond it.
“The increase in demand for our services resulted in the need for additional investments in the development of our BPO business. Our partnership with the EBRD as a leader in the financing of economically inclusive projects is a strategic and valuable choice, not just a commercial one. This partnership will enable us to realise our ambitious strategy of further growth, primarily through acquisitions,” stated Darko Horvat, President of the Management Board of Mplus Group.
“We’re excited to invest in an innovative company like the Zagreb company M Plus, which is primarily focused on regional growth. Through this investment, we’re reaffirming our focus on encouraging innovation and the development of the Croatian economy, including through supporting Croatian companies in their further expansion on foreign markets. Mplus currently provides services on 57 markets around the world and is one of the leading companies in the business process outsourcing segment,” said Mark Davis, the EBRD’s Regional Director for Central Europe.
“We look at this new investment as proof of the great progress we’ve made over more recent years. I believe that our partnership with the EBRD and continued support from MidEuropa will have a positive impact in all countries where we have BPO operations and where we’re active in terms of doing business,” added Horvat.
The Zagreb company M Plus is a European leader in BPO
The EBRD’s investment in the company Mplus Croatia, which consolidates the BPO segment of the Group, is a confirmation of the significant value created within this business vertical over the last four years, since the initial public offering (IPO) back in 2019. This investment positions the enterprise as a credible and long-term partner to leading domestic and international investors.
Just four years after the IPO, Mplus Group has been operating as a European leader in BPO through the dynamic customer experience management and information technology industries.