Marius Ghenea, one of the first business angels on the local market, has invested around one million euros in a metal roofing business and is set to cash three million euros.
Ghenea, 39, one of the founders of electronics retailer Flamingo, is in advanced talks to sell Viking Profile, the Ploiesti-based producer of metallic roof tiles, to Pruszynski group, one of the biggest players in Poland, in a deal estimated at some 4-6 million euros, market sources say.
The businessman, who has several ongoing investments in his position as a business angel, bought 51% in Viking Profile last December, whilst Radu Mircescu, the founder of the business in 2005, kept 49% of the company. Contacted by ZIARUL FINANCIAR, the businessman confirmed he was in talks to sell the company, but would not reveal any details about the deal. Pruszynski officials would not comment by the time the story was ready for print.
Flamingo's founder and Radu Mircescu announced they would invest 1.5-2 million euros this year in order to develop the company and that they expected a multiple of 3.5 of the money invested. Under the circumstances, Ghenea will collect around 2 or 3 million euros from the sale of his stake, triple the initial investment.
Ghenea has developed a portfolio of businesses that is typical of a business angel, after having quit the IT distribution company Flamingo, when he collected several million euros. He has been investing the money he got from Flamingo since 2003, starting with Fit Distribution, a distributor of computer technology, and developed the sites of the online stores pcfun.ro and electrofun.ro. He also invested in advertising through Casia company. The concept of business angel designates an investor that has significant personal financial resources and experience in running a business, who will exit a business when it reaches a higher value. @N_
