EOS Hellenic Renaissance Fund (EHRF) invests in Med Frigo Group

EOS Hellenic Renaissance Fund (EHRF) invests in Med Frigo Group

EHRF, managed by EOS Capital Partners (EOS), announces its tenth investment of €10m in Med Frigo Group. Med Frigo Group offers its customers domestic and international road freight distribution services, specialized logistics and other added value services as order processing, picking, labelling, freezing, and quality control, as well as additional services such as cross docking, load support management and administration & IT management.

About Med Frigo Group

Med Frigo was founded in 1991 in Patra by Georgios Poulias and Sotirios Brakatselos. The Company is active in the field of logistics and forwarding services for goods under controlled temperature. Type of goods handled include fresh aquaculture products, vulnerable products, dairies, vegetables, fruits, pharmaceuticals and other perishable goods. It is noted that Med Frigo is the only company in Greece that serves the aquaculture market, one of the strongest exporting sectors of the country. The company operates mostly in South Europe such as Portugal, Spain, South France and Italy.

Cargo Med commenced its operations in 2005 and is a fleet owner and operator. Cargo Med is a part of the network utilized by Med Frigo to support export distribution, while it is also focusing on the collection and international transportation of goods from EU back to Greece. Cargo Med has 70 privately owned refrigerated trucks, which are certified and meet the FRC specifications and have all modern equipment available (mono thermo / bi thermo, single deck / double deck).

Med Energy was established in 2007 and operates as a fuel station within the premises of Med Frigo. Med Energy refuels Cargo Med’s and other third parties’ trucks. In the context of time efficiency, Med Energy facilitates the prompt refuel of the trucks in order to initiate their route.

Med Frigo Group is an award-winning organization in the logistic and transportation industry of perishable goods in Greece & Europe for over 30 years (top performer in Transportation & Logistics awards as well as in the Diamonds of the Greek Economy awards). It is also noted that Group Companies have the following certifications (ISO 9001, ISO 22000:2005, ISO 39001:2012, ISO 27001, ISO 14001, Global G.A.P., ASC, Bio, Good Distribution Practice, Protocol against COVID 19)

The Group operates in 14 countries, has 50 ramps for loading and unloading (9,000 Loads handled by Med Frigo in 2020) and a fleet of 250 refrigerated trucks (70 owned by Cargo Med). Moreover, the Group has 400 points of delivery of aquaculture products in Europe and 600 distribution points per week across Europe. The Group owns modern infrastructure with state-of-the-art equipment, while its distribution and logistics centers own 16,000m² of refrigerated storage areas operating 24/7/365 in key strategic locations as Patra, Igoumenitsa, Aspropirgos and Thessaloniki.

The Group has achieved significant growth rates both on Revenue & EBITDA during the last 5 years, depicting an FY17-FY21 CAGR of +12.5% and +25.1%, respectively. It is also noted that the Group operates at a very attractive EBITDA margin, which has significantly improved during the last five years, from 14.1% in FY17 to +20% in FY21.

Group’s infrastructure, fleet, and equipment combined with the high level of know-how and many years of experience create a flexible and efficient profile of operations. This allows the Group to be a leader in Logistics & Transportation services for fast moving goods in GR & EU, enjoying excellent reputation from its customers, with high loyalty and satisfaction rating.

About EOS

EOS is the external Alternative Investment Fund Manager of EHRF, a private equity fund with approx. € 150m in AUM, focusing on growth capital investments in Greek SMEs across all sectors. The key cornerstone for the creation of EHRF, was its participation in the Equifund Fund of Funds program. EquiFund investment platform is an initiative created by cooperation between the Hellenic Republic and EIF. It is financed by the Greek ESIF Fund of Funds TAESYM under the European Union / European Regional Development Fund / Operational Programme EPANEK, the EIF and private investors, with the objective to facilitate access to finance, mainly to SMEs, by developing the Venture Capital/Private Equity (“VC/PE”) in Greece in cooperation with selected Financial Intermediaries.

EOS investment strategy focuses on SMEs with a healthy financial position and a solid value proposition looking for capital to achieve their growth potential either organically or inorganically through mergers and acquisitions.