Zagreb, Croatia, October 17th, 2024 – Stjepan Orešković, founder and majority owner of BOSQAR d.d., recently appeared on N1 Studio, hosted by Igor Bobić on N1 Television. In the interview, Orešković discussed BOSQAR's milestone equity offering, which raised EUR 49.1 million in fresh capital and drew substantial investor interest.
Orešković highlighted the strong investor interest during the equity offering and thanked long-term partners and investors: "Croatian pension funds have been with us from the start. Now, we've attracted over 20 investors, including the EBRD and MidEuropa, and all our previous partners have remained with us, eager to join us in new offerings, especially given the returns we've generated."
BOSQAR's founder shared his thoughts on what spearheaded the company's success since its 2019 IPO.
"We place genuine importance on what others often claim to be important but tend to disregard internally," Orešković said. "We've built a team of young professionals who have grown within the company, from entry-level positions all the way to CEO roles. Education, knowledge, and transparent management are at the core of our values."
He emphasized the company's clear governance structure: "Everyone in our organization, from me and my wife as co-owners, down the ranks, operates within their defined responsibilities. Owners do not interfere in the management board's authorities, and investors have a well-defined role."
Orešković also expressed pride in the company's reputation for transparency: "I'm proud that the Croatian Financial Services Supervisory Agency has acknowledged BOSQAR for our transparent corporate governance."
BOSQAR's Investment in Panvita
Orešković also touched on BOSQAR INVEST's recent investment in Panvita Group, a Slovenian agri-food group dedicated to the sustainable production of high-quality food.
"Our investment philosophy prioritizes sustainability, but we also focus on what value we can add - whether it's knowledge, new technologies, or boosting productivity," he explained. "The next step is consolidation. In today's world, if you aren't building scale, you won't survive. Our M&A team is one of the best globally, having completed numerous acquisitions with satisfied partners."
He added, "The companies we've acquired are in a better position today - compared to when we made the investments - and in a remarkably short time. Currently, we have two large companies in the regional food industry undergoing due diligence as part of our acquisition pipeline. If all goes well, by mid-next year, we will have expanded into a major player in food production and processing."
Business Conditions in Croatia and Abroad
Orešković also shared his perspective on the differences in operating across various countries and the role of state support in today's business environment.
"For us, Croatia provides a favorable environment. Croatian pension funds have backed us, giving us the push needed to compete internationally. I'm happy that BOSQAR has become one of their most profitable investments. This should be the model moving forward."
He concluded, "Personally, it would be difficult for me to support businesses that can't quickly prove themselves on the global stage. So, if we're helping companies prepare for global competition, the investment must generate returns quickly - whether it's for pension funds, as in this case, or wherever public involvement plays a role. In my opinion, the ultimate goal should be success on the world stage."
For more details about BOSQAR's recent equity offering, click here.
About BOSQAR INVEST:
BOSQAR INVEST (BOSQAR d.d., together with its subsidiaries) is a European leader that operates in the industries of business process and technology outsourcing, information technology, employment services (HR), eCommerce, and food.
With an innovative business model, BOSQAR INVEST accelerated its expansion on the market with intensive organic growth and an M&A platform. Through its buy-and-build strategy, it has acquired 57 companies since 2016. BOSQAR INVEST is focused on improving the profitability and operations of each of its acquired companies through its standardized operational models that result in significant organic growth of all companies inside the Group and the Group itself.
Today, BOSQAR INVEST operates through four business verticals: the BPTO business vertical (brand: Mplus), the HR business vertical (brands: Manpower and Workplace), the eCommerce business vertical (brand: Eplus ventures), and the food business vertical. All business verticals are focused on shareholder value creation through a commitment to best practices in digitalization, structured key accounts management programs, rigorous financial stability and cash management, strong and dedicated management teams, and a focus on results.
In its ownership structure, BOSQAR INVEST brings together pension funds, institutional investors, international private equity funds, development institutions, and private investors. The BOSQAR INVEST business community consists of over 13,800 employees, and the group provides its services to clients who, in addition to Croatia, do business in 57 countries around the world.
