UFG Private Equity invests in the Russian logistics group Santens Service
UFG Private Equity and the Russian logistics group Santens Service (Santens or the Company) announced today that the international institutional fund UFG Private Equity Fund II (Series 2), L.P. acquired a minority stake in the Company. Santens Service group is a leading provider on the pharmaceutical logistics market of Russia.
UFG Private Equity intends to invest into Santens over $30 million to finance the next cycle of Santens growth including the expansion and development of the Companys core services and quality upgrade of Santens value proposition to the clients.
The founding shareholder of Santens Service group Mr. Oleg Moiseenkov will retain operating control over the business and remain majority shareholder of the Company. The transaction will not trigger any management team changes in Santens.
Oleg Moiseenkov, President of Santens Service, commented below on the Companys decision to partner with UFG, We have been looking for additional resources to finance Santens ambitious growth plans, which was now made possible through the partnership with a financial investor. I am honored that such a reputable and successful investment fund like UFG decided to invest in Santens. I see this as a landmark transaction in the Russian pharmaceutical logistics industry and an affirmation of Santens recognized brand, successful business strategy and a vote of confidence for the future growth of the company. I am confident that our partnership with UFG will not only provide Santens with the required funding of the companys future growth but will give us access to best international practices with UFGs support. In addition, the transaction is a confirmation for our clients and counterparties that Santens Service group is a trusted partner in the Russian logistics market and that our business processes and corporate governance meets the highest due diligence standards.
We recognize the high growth potential of the logistics services market to pharmaceutical companies in Russia, and view Santens Service group as a clear market leader in this sector. UFG backed an impressive, knowledgeable and experienced management team. We are confident that the company will continue to grow rapidly despite recent geopolitical tensions and Russias broader economy slowdown, first and foremost protected by the counter-cyclical pharmaceutical market and the high quality of assets in Santens portfolio, added Robert Sasson, Senior Managing Partner of UFG Private Equity.
Source: Press Release on http://pe.ufgam.com/