Romanian PE fund Black Sea Fund takes over local board game producer D-Toys

Romanian Black Sea Fund I, managed by the local management company Black Sea Fund (with Matei Paun and Cornel Fumea among partners), took over 70% in the local board game producer D-Toys.

The value of the transaction is confidential. D-Toys is a company founded by local entrepreneur Tibor Fustos in 2001, and last year it posted revenues of four million euros, being the largest independent producer of puzzles and educational games in Romania. The company owns a factory in St. Gheorghe (central Romania).

Taking over the majority stake involves expanding the management team.

The new management aims to focus in the coming years on increasing online sales, developing in markets such as Germany, Austria, Switzerland and increasing production and creative capacity to meet the needs of the public in the countries concerned.

Black Sea Fund I was assisted in this transaction by bpv Grigorescu Ştefănică, while D-Toys by Saxum Corporate Finance and Schoenherr & Asociaţii.

“Our customers are increasingly moving away from cheap imports from China and looking for entertainment, quality and innovation, and we are ideally positioned to serve them in Europe and beyond, being one of the few integrated producers in the EU,” said Alex Bute, the future CEO.

(Photo courtesy of the company)