News
2024
January
ECM in collaboration with selected mezzanine investors, have successfully finalized the acquisition of an existing shareholding in a regional household, lifestyle, and consumer electronics retailer. This shareholding was previously owned by an international investment fund and had been advised and managed by ECM from the outset. The completion of this acquisition underscores the growing confidence of the ECM team in the strategic expansion of the target company into Croatia in 2022 and more recently into Serbia. This expansion was facilitated by the acquisition of a prominent online consumer electronics player, thus establishing a comprehensive regional omnichannel platform.
2023
December
ECM, alongside a European focused family office, has successfully invested in a circular-economy focused platform aiming to reduce carbon emissions through alternative use of end-of-life tires. The platform will be co-managed together with an ESG-focused private equity house.
ECM, on behalf of Elements Credit Opportunities II, successfully closed the acquisition of a city hotel in the island of Samos in Greece comprising 90 rooms and associated infrastructure. The property is located at a unique spot next to the main port of the island and is set to enjoy significant growth in tourist numbers from Europe and Turkey. The asset management strategy is based on a turnaround plan which will add value to the asset through a refurbishment plan.
ECM, alongside a European focused investment fund, as of the 4th December 2023, successfully closed the acquisition of a unique coastal property in Croatia ('The Novi Vinodolski Resort') encompassing a 160 room hotel and 330 residential apartments. The asset management strategy is based on a turnaround plan which will add value to the asset through a full rebrand and extensive capex spend on both the hotel and residential components with the aim to be the pioneers of one of the first branded residential assets on the Croatian coastline.
November
ECM has successfully completed the acquisition of a significant majority interest in the largest private hospital in Cyprus. The hospital has a total capacity of 180 beds and provides specialized services to the Cyprus general health system (the “GHS”). The asset benefits from its unique location, being the largest hospital providing such services in the city centre of Limassol with a catchment area of around 180,000 people. ECM supported the admission of the hospital into GHS providing a strong turnaround potential. Additionally, ECM will provide additional capital to expand the hospital's footprint through the upgrade of certain state-of-the-art medical equipment and the construction of a modern car-parking facility.
ECM, alongside a European focused investment fund, have successfully entered into an agreement to acquire a unique coastal property in Croatia, encompassing a 160 room hotel and 330 residential apartments in need of a full turnaround. The said asset benefits from its unique location, in between the major cities of Zagreb and Ljubljana and its driving proximity to Central Europe as well as benefitting from the positive macroeconomic tailwinds in Croatia since its adoption of the Euro and joining the Schengen zone in January 2023.
October
Two years after the acquisition, Elements Credit Opportunities II Fund has completed another successful exit in its portfolio by divesting an NPL securitization asset-backed bond in Greece. The Exit has been achieved earlier than anticipated as part of an overall redemption scheme by the securitization Bank. This marks our third exit in-line with underwriting recoveries before the end of the Fund investing period.
September
ECM Partners has successfully closed the acquisition of a 25% stake in one of the largest private healthcare providers in Cyprus to join the country’s universal healthcare service GeSy. The buy-out of the remaining majority shareholders is subject to regulatory approval from the Cyprus Competition Protection Commission (CPC) in line with the SPA signed between the firm and the hospital’s major shareholders in June.
ECM Partners has successfully exited an investment in a leading global player in marble and granite manufacturing, with a notable presence in renewable energy. The project marked the beginning of a new collaboration between ECM and a prominent multi-billion European capital provider.
June
ECM Partners has signed an SPA for the acquisition of the majority stake in one of the largest private healthcare providers in Cyprus with 180 beds. The firm will steer the hospital into joining the country’s General Health System (GeSy), due to take effect in September 2023. We are excited to announce this is the first acquisition backed by renowned regional high-net worth individuals under a newly set-up discretionary investment vehicle.
May
Elements Credit Opportunities II successfully exited a project involving the restructuring of secured claims towards a Croatian company collateralised by retail development land and further backed by an option agreement with a credible, value-add, asset investor. This is the second exit, at targeted return, from our ECO II Fund since inception in 2020.
March
Elements Credit Opportunities II successfully closed its sixth transaction purchasing of a claims backed by portfolio of prime-located, mixed-use development lands in fastest growing coastal city in Croatia. Structure also provides optionality to add value through participating in selective developments. We are pleased to have teamed up with a new, renowned Slovenian co-investor and a syndicate of senior lenders for this transaction.
ECM Partners has successfully closed the acquisition of a global leader in marble and granite production which is also active in the renewables space. The transaction was signed in January 2023 and was conditional upon obtaining the necessary approvals from the Commission for Protection of Competition in Greece and North Macedonia. We are pleased to have teamed up with a new European capital provider for this transaction.
ECM welcomes new hire, Mr. Kruno Santini, who joined us as Head of ECM Adria. He has over 15 years of experience in banking, financial advisory services and real estate acquisitions. Kruno holds a Master's degree in Economics from the Faculty of Economics from the University of Zagreb and is currently in the process of obtaining a CFA ESG investment certification.
January
Elements Credit Opportunities II has invested into a unique coastal property in Cyprus alongside a renowned global investment manager, after the original developer had been put into receivership. The said property is considered highly unique due to the fact that there are virtually no beachfront residential plots of this size still available in the Akamas region. The property also lies adjacent to Cyprus' most exclusive 5* hotel - a member of the Leading Hotels of the World, which since opening in 1998 has hosted a plethora of celebrities, including royalty and the world's political elite. Heads of Terms with the hotel in order to brand and include the project as part of the resort's perimeter, service the property and provide rental services to the end-owners, has already been agreed.
ECM Partners has acquired a global leader in marble and granite production which is also active in the renewables space. Completion of the transaction is conditional upon obtaining the necessary approvals from the Commission for Protection of Competition in Greece and North Macedonia.
2022
November
Elements Credit Opportunities II successfully exited a project involving the conversion of tourism-focused apartments in Croatia into a fully-serviced and gated, private residences. We exited the transaction one year earlier than originally planned and this marks the first exit from our ECO II Fund since inception in 2020.
September
The firm has completed the closing phase of the divestment of the largest hospitality group in Slovenia, signed in January.
ECM welcomes new hire, Mr. Michalis Papaiacovou, who joined us as Portfolio Manager. He has over 10 years of experience in investments. Prior to joining ECM, Michalis worked in infrastructure private equity in London, covering the energy, infrastructure and utilities sectors in Europe. Michalis holds an MSc in Finance and Economics from the London School of Economics. He is also an ACA and CFA charterholder.
July
ECM has successfully closed an Advisory Transaction of an asset-backed financing of an innovative property development in Ljubljana. We are particularly pleased to have teamed up with a new, renowned international capital provider for this transaction.
May
The fund Elements Credit Opportunities I successfully exited its transaction from the engineering and consulting company in Slovenia.
April
The fund Elements Credit Opportunities I has successfully exited the transaction of the Do-It-Yourself player in Slovenia. The transaction was completed in part as an Advisory transaction.
March
ECM welcomes two new hires: Mr. Franci Tusek and Mr. Ziga Borisek. Mr. Franci Tusek joined as Managing director - Portfolio Acquisitions. He has over 15 years of experience in the financial industry. His previous experiences include leading some of the largest Slovenian M&A cases, NPL and RE portfolio disposals, and restructuring cases. Working in Bank of Slovenia and being heavily involved in the restructuring of the Slovenian banking sector, Franci also has extensive experience in risk management. Franci completed the BSc. in Financial Economics from the Faculty of Economics, University of Ljubljana, and the MSc. in Financial Management from Faculty of Management Koper. Additionally, he holds the FRM certification. Mr. Ziga Borisek joined us as an Analyst. Previously, he worked as Risk Management Specialist in the banking sector and he spent four years with PwC Slovenia in Financial Advisory, working in corporate finance advisory, namely M&A advisory in sell-side mandates, and due diligence and indicative valuations of companies predominantly operating in the SEE and CEE regions. Ziga completed the BSc. in Bank & Financial Management and International Master in Business and Organization both at Faculty of Economics, University of Ljubljana.
February
The firm became a Signatory of the United Nations Principles for Responsible Investment.
January
The firm has successfully advised on divestment of the holding in largest hospitality group in Slovenia.
Elements Credit Opportunities II successfully closed its fifth transaction purchasing claims towards a Croatian company. The claims are collateralised by development land in the Zadar region of Croatia. Elements Credit Opportunities II is now fully invested within 12 months since inception.
2021
December
The Firm announces the opening of the Greece office.
The Firm has successfully exited an Advisory transaction, a mezzanine financing of an ultra-premium residential project in Ljubljana, Slovenia. The firm has also successfully signed the closing of the Do-It-Yourself player transaction.
October
ECM welcomes new hire, Mr. Anze Ahlin, who joined us as a Junior Analyst. Before joining, Anze worked as a Financial Analyst in BV Finance Group, where he was focused on valuation models for Small and Medium Enterprises as well as on calculations of NPV.
September
The fund Elements Credit Opportunities II has successfully closed its fourth transaction, an acquisition of a Greek mezzanine asset-backed bond. The portfolio is secured by residential and commercial real estate.
ECM welcomes new hire, Ms. Jasna Mesic, who joined us as a Legal Advisor. Previously she spent 8 years with the Bank Asset Management Company, where she was working as a lawyer managing and selling receivables and equity investments. Before that, she also worked at the Carmen Dobnik & Attorneys Law Office, Sparkasse bank d.d. and at the Law office Filipov Ltd. – Schönherr.
ECM distributed the funds to the investors of the Elements Credit Opportunites I fund for the second time.
August
The funds S.E.E. Turnaround and S.E.E. Turnaround II have successfully closed their first transaction, an acquisition of a leading regional provider of Finished Dosage Forms (FDF) in generic manufacturing the pharmaceutical & health, and beauty industries with over 120 customers and 1800 employees in Greece. The transaction was also completed in part as an Advisory transaction.
ECM welcomes the first investors into Private Equity funds S.E.E. Turnaround and S.E.E. Turnaround II.
ECM has successfully exited its Elements Credit Opportunities I and Advisory transaction from a leading regional provider of Finished Dosage Forms (FDF) in generic manufacturing the pharmaceutical & health and beauty industries with over 120 customers and 1800 employees in Greece.
May
The fund Elements Credit Opportunities II has successfully closed its second transaction, an acquisition of claims towards Food&Beverages and Agriculture company in Croatia. The Group has over 50,000 employees and operates in three core activities: agriculture, retail, and food, as well as non-core operations.
January
The fund Elements Credit Opportunities II has successfully closed its first transaction, a purchase of claims towards tourism-focused apartments in Croatia. The 100 plus apartments are located in the Zadar region, one of the most exclusive and popular tourist destinations in Dalmatia.
ECM has successfully closed an Advisory transaction, acquisition of a land plot with semi-completed tourist villas in Cyprus. The villas are located in a prime location in the most western part of the island which is renowned for its sandy beaches and unspoiled nature.
ECM distributed the funds to the investors of the fund Elements Credit Opportunites I for the first time. The fund held its first closing in October 2017, and it is invested in the Firm´s flagship strategy, Credit Opportunities.
2020
December
ECM welcomes the first investors into the fund Elements Credit Opportunities II (ECO II), a 2nd generation fund of Firm´s flagship strategy Credit Opportunities. Like its predecessor, the fund will be investing in companies, which have a sound underlying business but are temporarily in a dislocated situation.
November
ECM welcomes new hire, Ms. Vesna Zajc Wagh, who has joined us as Head of Investor Relations. Before joining ECM, Vesna was an investment analyst at YIELCO Investments AG, a German Fund of Funds Manager for Alternative Investments. Between 2008 and 2015, Vesna worked as a financial analyst for the Slovenian partner of Dun & Bradstreet.
August
The fund Elements Credit Opportunities I has successfully exited its transaction from a Machinery and Fabricated Metals producer in Slovenia.
June
Elements Capital Management, Inc. is renamed to ECM Partners, Inc.
May
The Firm welcomes new hire, Ms. Lea Urbancic, who joined us as a Senior Analyst. Prior to joining the Firm, Lea worked in Deloitte and PwC, where her work focused primarily on corporate finance advisory, including restructurings, M&A Advisory, business modelling and M&A tax structuring.
March
The Firm has opened an office in Croatia. Mr. Nader Bawany, who has over 10 years of experience in the financial industry, heads up the newly founded Croatian office.
The fund Elements Credit Opportunities I has successfully closed its sixth transaction, an acquisition of a leading regional provider of Finished Dosage Forms (FDF) in the pharmaceutical & health and beauty industries with over 120 customers and 1800 employees, serving 80 worldwide markets. The transaction was also completed in part as an Advisory transaction.
2019
December
The Firm has successfully closed an Advisory transaction, a mezzanine financing of an ultra-premium residential project in Ljubljana, Slovenia.
The fund Elements Credit Opportunities I has successfully closed its fifth transaction, an acquisition of claims and equity of a MedTech company in Slovenia. The company has developed a system for targeted cell separation which produces results in a relatively short time compared to market.
October
The Firm has successfully closed an Advisory transaction, an acquisition of a hotel in Cyprus. The hotel with a long history is located in a prime beachfront location in Limassol, Cyprus.
August
The fund Elements Credit Opportunities I has successfully closed its fourth transaction, an acquisition of claims towards an engineering and consulting company in Slovenia. The project envisages the construction of residential villas in North Slovenia.
April
The Firm has successfully exited an Advisory transaction from a Tourism & Gas Holding company.
March
The Firm has successfully closed an Advisory transaction, the acquisition of a Data Center in Bulgaria. Founded in 2008, the company today is operating one of the two tier 3 data centers in Bulgaria.
January
The Firm welcomes new hire, Mr. Bor Vosnjak, who joined us as a Head of Asset Management. Bor has over 10 years experience in the financial services industry, having previously worked as risk manager at Abanka and as deputy head of restructuring at Bank Asset Management Company.
2018
December
The Firm has successfully closed an Advisory transaction, an acquisition of Real Estate Holding in Croatia. Formerly a state-owned retail bakery chain, the company today owns 16 assets, most of them in prime locations in Istria, Croatia.
July
The Firm has successfully closed an Advisory transaction, an acquisition from the bankruptcy of a Retail Consumer Electronics / Household Appliances company in Slovenia. The company today operates a network of numerous offline stores and a webshop and is the largest provider of audio-visual products and computing in the Slovenian market.
May
The Firm has successfully closed an Advisory transaction, an acquisition of assets from a bankruptcy of a Telco/Fiber Optics operator in Serbia. The company manages the shortest fiber optics pathway between Frankfurt and Istanbul, Budapest and Athens, Vienna and Skopje, Zagreb, and Sofia, and is linking key infrastructure centers in Serbia.
March
The fund Elements Credit Opportunities I has successfully closed its third transaction, an acquisition of a Do-It-Yourself player. The company, founded over 100 years ago, operates today out of numerous shopping centers. The transaction was also completed in part as an SPV vehicle.
January
The Firm welcomes new hire, Mr. Nader Bawany who has joined us as Portfolio Manager. Nader started his career at Bank of America Merrill Lynch in credit derivates. After 2009, alongside founding a global executive search firm in London, he was heavily involved in Traydstream, a revolutionary start-up FinTech organization that is focused on digitization and automation of the trade finance industry.
2017
December
The fund Elements Credit Opportunities I successfully closed its second transaction, acquisition of debt exposure towards a Machinery and Fabricated Metals producer in Slovenia. The company is a producer of industrial rolls for various areas of industry and is generating revenues in 20 worldwide markets.
The fund Elements Credit Opportunities I successfully closed its first transaction, an acquisition of claims towards a bankrupt Slovenian company with a performing real estate portfolio.
The Firm welcomes the first investors into the fund Elements Credit Opportunities I (ECO I). The fund invests in companies which have a sound underlying business but are temporarily in a dislocated situation.
November
The Firm has successfully closed an Advisory transaction, an acquisition of a Do-It-Yourself player. The company, founded over 100 years ago, operates today out of numerous shopping centers.
October
The Firm welcomes new hire, Mr. Robert Močnik who joined us as Head of Research and Analytics. Prior to joining the Firm he has previously worked at SKB Bank, a member of the Société Générale Group, and was a Director at KPMG, leading their business advisory and restructuring team.
August
ALPEN Invest is renamed to Elements Capital Management, Inc.
April
The Firm welcomes new hire, Ms. Eva Laba who has joined us as Executive Secretary. Prior to joining the Firm, she worked in administrative support to the management and employees in TSC Laba for 6 years.
January
The Firm welcomes new hire, Mr. Grega Mulej, who supports us in Real Estate projects. Grega has over 16 years of experience in the real estate industry. In the past, he has participated in many real estate projects as a project manager and investor. He also served as a bank consultant for the optimization and evaluation of real estate projects in Slovenia and CEE.
2016
April
The Firm has successfully closed its Advisory transaction, acquisition of claims towards a Tourism, Media, and Publishing Holding. Founded almost 100 years ago, the holding today engages also in the hospitality sector.
2015
October
The Firm has successfully closed its Advisory transaction, acquisition of claims towards Tourism and Bank Holding. The holding today is one of the largest tourism groups in Slovenia.
July
The Firm welcomes new hire, Mr. Andrej Prah, CLO. Prior to joining the Firm, he served as a Deputy Director of the Security Market Agency for seven years. Before that, he worked as an associate attorney in a law firm, as a clerk on the appellate court, and as an editor on the Official Gazette of the Republic of Slovenia.
June
The Firm successfully closed its Advisory transaction, acquisition of claims towards Tourism & Gas Holding. The companies in the holding today are operating in the Gas, Food & Beverage, Tourism, and Telecommunications sectors.