Olympia Capital Partners has made an investment in two IT solutions firms, Maestral and Mistral. No financial terms were disclosed. The two companies will merge and be based in Amsterdam.
AMSTERDAM, Nov. 30, 2020 /PRNewswire/ — Olympia Capital Partners (“OCP”), a global independent private equity firm announced a partnership and strategic investment in IT Solutions firms Maestral Solutions (“Maestral”) and Mistral Technologies (“Mistral”). Following this transaction, the two companies will integrate their activities and the combined group (the “Group”) will be headquartered in Amsterdam.
Maestral and Mistral are leading IT Solutions firms that together employ over 200 IT professionals in Amsterdam, Atlanta, Sarajevo, and Mostar. They operate a product development as a service model and participate across the full software development cycle for global blue-chip, mid-size and startup clients. Both firms have quickly grown into trusted global IT partners, that combine high-quality technology solutions with cost effectiveness. Maestral’s depth of expertise in software product development and technology has led to long-term relationships with numerous Fortune 500 and high growth SME clients; and Mistral’s unique approach to employee culture and development has led to industry leading retention and a pool of South East Europe’s (“SEE”) most accomplished IT professionals.
OCP brings deep expertise in M&A, international expansion, and operational excellence to the partnership, which will be critical as the combined Group undergoes its next phase of growth. OCP’s Partners Nedim Music and Almir Jazvin, will join the board of the Group and provide expertise as the business seeks to increase its presence organically and inorganically through Western European and North America. Following the transaction, Group will be strengthened with the addition of Amila Pita, Roberto Ramadhin and Peter Lizza. They are bringing deep sector experience having previously worked for Boston Consulting Group, Deloitte, API and Capgemini. The CEO of the Group will be Sanin Saracevic. Mersed Camdzic will be heading up European operations while Frank Torres will be the Chief Operating Officer in charge of the US operation.
“I started Maestral after recognizing that many outsourced IT companies were failing to provide product development clients with a high-level of service and expertise necessary to properly support aggressive and demanding Product Development Roadmaps. Our intimate knowledge of the SEE market meant that we knew the region had the technical talent and work ethic to overcome these challenges. Since 2010, we have rapidly expanded our business and allowed the talented and driven professionals of Bosnia and Herzegovina (“BiH”) to showcase their skills on complex global projects,” said Sanin Saracevic, Founder & CEO of Maestral.
“We are excited to announce our partnership with OCP and further integration with Maestral. OCP’s financial and operational support, as well as their global network of relationships will be pivotal as we work to accomplish our growth strategy over the next 5 years. At Mistral, we pride ourselves on putting people first. OCP understands this vision and believes, as we do, that Mistral’s talent and culture are what sets us apart. We are ecstatic to find a partner with whom we are so aligned, and we are excited to expand Mistral’s footprint around the world,” added Mersed Camdzic, Founder & CEO of Mistral.
Nedim Music, CEO of OCP, pointed to the importance of the partnership to OCP, “We have been watching and admiring the success of these two companies for several years. Their ability to build a global product development platform without outside investment is nothing short of exceptional. The vision of Sanin and Mersed, combined with the resources and expertise of OCP, creates a terrific opportunity to build a regional, and eventually global IT powerhouse.”
“By partnering with leading businesses in the region, OCP is committed to increasing employment opportunities and fostering economic growth. Mistral and Maestral represent the dynamism and strength of businesses in BiH, and we are thrilled for the opportunity to play a role in their story,” added Almir Jazvin, Managing Partner of OCP.
For more info on Maestral Solutions and Mistral Technologies please see: https://www.maestralsolutions.com/ and https://www.mistral.ba/