On May 27th 2016, ARMADA Capital (“ARMADA”), a newly registered growth equity investment vehicle focused on the CSE and MENA regions, completed its first transaction in Bulgaria. ARMADA is to invest €1M of growth equity capital in SoftGroup, a Bulgarian company which offers Serialization and Track & Trace (“SaTT”) systems for the pharmaceutical sector and is also a strategic partner to Dassault Systemes.
The need for higher level regulations in the pharmaceutical sector across the EU has been recently addressed through the adoption of The Delegated Act of the Falsified Medicines Directive 2011/62/EU on October 2nd, 2015. Officially published on February 9th, 2016, the Act mandates the implementation of mass serialization software by February 9th, 2019 by all global pharmaceutical companies and Contract Manufacturers (“CMOs”) which sell medicine on the territory of the EU. SoftGroup’s turnkey solution is fully compliant with those regulations and allows for scalability, customization and upgrades over time.
SoftGroup has already successfully deployed its integrated hardware and software solution at leading pharmaceutical companies in Bulgaria, including Actavis Bulgaria (part of TEVA), Antibiotic Razgrad, GE Pharmaceuticals and MC Pharma. “We recommend SoftGroup as a professional supplier of serialization systems and as a reliable partner for pharmaceutical companies,” comments Ms. Antoaneta Grancharska, Director Engineering and Maintenance at Actavis Bulgaria, Actavis’ largest production facility worldwide.
ARMADA’s investment would enable SoftGroup to scale its R&D and Sales teams and to expand its footprint across the CSE and MENA regions. Having recently been accepted to the Endeavor Network, SoftGroup aims to leverage the access to capital, markets and talent that Endeavor offers in the 25 countries in which it operates.
“It is a privilege to work alongside some of the most accomplished Bulgarian entrepreneurs and leverage their respective experiences, knowhow and networks across industries. Our ecosystem has long needed entrepreneurs turned investors,” comments Venelin Dimitrov, CEO of SoftGroup.
“ARMADA is an investment vehicle created by entrepreneurs for entrepreneurs. Our team brings much more to the table than pure capital and we are excited to support SoftGroup as it scales its business, while having a deep impact in the global fight against counterfeit drugs,” says Ivo Evgeniev, Chairman of ARMADA and Chairman of Endeavor Bulgaria.
“SoftGroup is a company with tremendous potential for growth, given the recently implemented regulations in the pharmaceutical industry which are expected to be replicated across the tobacco, alcohol and cosmetics industries,” comments Angel Kelchev, Managing Director at Endeavor Bulgaria.
SoftGroup provides an end-to-end mass serialization software and hardware solution for pharmaceutical companies and CMOs. For more information, please visit www.softgroup.bg.
About ARMADA Capital
ARMADA is an investment vehicle focused on established companies with growth and consolidation potential, high-potential start-ups and real estate projects with a clear path to monetization. For more information, please visit www.armadacapital.com.
About Endeavor & Endeavor Bulgaria
Endeavor is leading the high-impact entrepreneurship movement around the world. The organization is active in 25 countries. It selects and supports entrepreneurs with big ideas who can grow to become role models and whose businesses would become key drivers for long-term economic growth, job creation and innovation. These entrepreneurs have the potential to change their countries and the world. For more information, please visit www.endeavor.org and www.endeavor.bg.