Advised WON on the sale of a minority stake to the Austrian biodiesel producer Bioindustrie GmbH

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Client: Waste Oil Net

WON EOOD is the leading waste oil collection company in Bulgaria, also active in the region
It’s main business activity is the Collection of UCO in hotels and restaurants

Muenzer group is the largest Biodiesel producer and used cooking oil collector in Austria, sourcing it as feedstock for its biodiesel production
It is mainly collected from restaurants, food industry and households, but also purchased from other collectors all over the world

WON has been a client of Entrea Capital, with various strategic options considered throughout the last couple of years, including regional acquisitions
After years of solid organic growth and capturing of dominant market position, sale of an equity stake to an international strategic partner was seen as a logical next step in the company development
Attraction a strategic investor was aimed to contribute with operational experience in the rollout of the waste collection business in the region, as well as in the investment in processing facilities in Bulgaria

Entrea Capital provided the following sell-side advisory services to WON:

Negotiation of non-binding term sheet
Assistance in the execution of the due diligence phase, including setting up of a virtual data room
Negotiation of the full package of definitive transaction documents, including share purchase agreement (SPA), shareholder agreement (SHA), etc.