References

STRT Holding Plc. has successfully completed its stock market listing and initial public offering (IPO)

In December 2025, the shares of STRT Holding Plc. (STRT Holding) were introduced to the Standard category of the Budapest Stock Exchange (BSE), moving up from the BSE Xtend market. Both the institutional bookbuilding and the public, retail sale of shares were successful, and STRT Holding has issued a total of 1,503,962 new shares, resulting in a capital increase of HUF 1.35 billion.

STRT Holding is an investment company founded in 2022 that supports innovation in the Central European region through two mutually reinforcing activities. On one hand, it invests in early-stage, technology-focused companies, having already completed more than 100 investments. On the other hand, it trains future-oriented leaders through its academies, having educated more than 6,500 participants in its courses to date. STRT Holding aims to become a key player in the regional startup ecosystem and to further support the creation of new, internationally successful domestic and regional companies.

During its time in the BSE Xtend category, the regulated market listing of its shares, and its successful IPO, Concorde MB Partners acted as nominated / financial advisor of STRT Holding.

On September 3, 2025, UBM Holding completed the acquisition of 100% of the shares of Agrifirm Hungary Ltd., the Hungarian subsidiary of the Dutch Royal Agrifirm Group.

Founded by approximately 8,000 Dutch farmers, the Royal Agrifirm Group boasts a 120-year history in the Netherlands and has grown into one of the world’s leading agricultural companies. Its Hungarian subsidiary, Agrifirm Hungary Ltd., is a key player in poultry feed production. The company operates three plants in Győr, Környé, and Kaba, with a combined annual capacity of around 250,000 tons and a workforce of 130 employees.

Since its establishment in 1996, the UBM Group has become Hungary’s market-leading feed producer and one of the largest feed raw material traders. The group also operates six feed mills across Slovakia and Romania and sells its products in 15 countries, with more than half of its revenue generated from exports.

As a result of this acquisition, UBM Group’s annual production capacity will increase by over 40%, reaching approximately 850,000 tons. This marks a significant step toward the company’s strategic goal of producing one million tons of feed annually. Agrifirm’s strong market position in poultry feed aligns closely with UBM’s strategy to strengthen its leadership in the Central and Eastern European region.

Following the transaction, Agrifirm Hungary will continue operations under the name UBM Nutrition Ltd., now fully integrated into the Hungarian group.

UBM Holding was exclusively advised on this transaction by Concorde MB Partners.

In September 2025, Terracotta Group acquired 100% of the shares of Real Nature Kft.

Real Nature Kft., a Hungarian company specializing in the distribution of high-quality and healthy food products, took over the Joya brand from Mona Hungary Kft. in 2009, and subsequently, in 2014, acquired its entire product portfolio. The company operates on a distinctive dual business model in the food industry, combining product development, contract manufacturing, and distribution. While its core activity is the distribution of healthy and sustainable food products, a significant portion of these products are also contract-manufactured, often in cooperation with strategic partners. Its product offering is focused on lactose-free, gluten-free, sugar-free, and vegan categories.

Terracotta Magyarország Kft. is a key player in the Hungarian hobby gardening products market. Its main activities include wholesale and distribution of hobby gardening and seasonal non-food products. Its wide-ranging portfolio includes flowerpots, potting soil, grass seeds, fertilizers, and garden accessories. Terracotta serves nearly all major hypermarkets, DIY chains, and discount retailers in Hungary and across the Central and Eastern European region, with a presence in more than one thousand points of sale. Its subsidiary, Terra-Tőzeg Kft., is engaged in the production of potting soil and liquid fertilizers, as well as peat processing, and manufactures private label products for major retail chains. Another subsidiary, Gardino Magyarország Kft., focuses on online sales.

Real Nature Kft. is an excellent strategic fit for the Terracotta Group’s growth and diversification ambitions. Through this acquisition, a Hungarian group is formed that will be active in both the food and non-food segments.

Concorde MB Partners acted as exclusive transaction advisor to the Buyer.

In August 2025, the sale of 100% of Kolcsár Sütőipari Kft. to Lipóti Pékség Kft. was successfully completed.

Kolcsár Kft. was founded in 1990 by György Kolcsár, who, together with his wife, opened their first bakery in Várgesztes, where traditional stone-oven baked bread with a thick crust was produced. Today, with more than 30 years of history, Kolcsár Kft. operates a production facility in Oroszlány, manufacturing classic bakery and confectionery products. The company primarily sells directly to customers: alongside its own shops, it mainly distributes its products through mobile sales vans. Its assortment is largely made up of traditional baked goods, but also includes diabetic-friendly products.

Lipóti Pékség has nearly three decades of successful operations in the baking industry. Since 2006, it has built a dynamically growing franchise network of approximately 250 branded shops. The network is supplied by three large production plants in Lipót, Tatabánya, and Kecskemét. At the end of 2021, a new state-of-the-art facility was established in Hatvan, equipped with the most modern technology and one of the largest of its kind in Central Europe, capable of producing both fresh and frozen goods. This further strengthened the group’s production capacities and future growth potential.

Through this transaction, Lipóti Kft. acquires Kolcsár Kft.’s production base and its extensive distribution network around Oroszlány. Of particular value is the company’s unique sales model, which delivers products via mobile vans to 80 towns and villages, enabling Lipóti Pékség to integrate a new and efficient sales channel into its system. Kolcsár Kft.’s product portfolio of more than 80 items complements Lipóti Kft.’s strategy of focusing on quality and distinctive flavors.

The exclusive transaction advisor to the sellers was Concorde MB Partners.

In May 2025, the sale of 100% of the shares of Revolution Software Kft., a leading player in the Hungarian ERP market to Seyfor, a.s. was completed.

Revolution Software Kft., headquartered in Budapest, was founded in 1992 and specializes in delivering high-quality ERP systems for mid-sized businesses. Its core products include its proprietary deep.erp solution as well as the implementation of Microsoft Dynamics 365 Business Central. The company is known for its commitment to quality and innovation, serving over 3,000 customers. The company employs approximately 70 professionals and generated revenues of 6.3 million euros in 2024.

Seyfor, a.s. is a leading European provider of ICT solutions. With a team of over 1,900 professionals, the company serves clients in 38 countries across Europe. Seyfor ranks among the fastest-growing IT companies in the region and is the largest developer of accounting, ERP, payroll, and HR systems in the Czech Republic, with an expanding footprint in international markets. The company’s sustained growth is supported by a consistent acquisition strategy, having completed numerous transactions across Europe to enhance its portfolio and strengthen its competitive position both domestically and abroad. Seyfor is jointly owned by the Slovak investment firm Sandberg Capital and Czech entrepreneur Martin Cígler. The company was founded in the Czech Republic in 1990 as Cígler Software and operated under the Solitea brand between 2017 and 2022.

Concorde MB Partners acted as exclusive transaction advisor to the Seller.

On June 18, 2025, the majority sale of Callfactory Group—one of Hungary’s leading call center service providers—was signed with Hungarikum Alkusz Group. The transaction is subject to the approval of the Hungarian Competition Authority (GVH) and will become effective following regulatory clearance.

Callfactory Group, which will continue to operate under the name HUNFactory, has over 30 years of experience in the Hungarian market. The company delivers customer service solutions to key players across various sectors, including insurance, home savings, pension funds, banking, courier services, and plasma centers. In 2024, the Group achieved revenues of HUF 1.9 billion, while the annual premium volume of managed and settled insurance contracts reached nearly HUF 3 billion. With a team of nearly 200 employees, the company handles millions of customer interactions per year and concludes over 31,000 new contracts on average.

Hungarikum Biztosítási Alkusz Group, with revenues exceeding HUF 31.5 billion in 2024, nearly 250 employees, and a network of 1,000 advisors, is the largest and fastest-growing insurance brokerage firm in Hungary.

The transaction brings together two 100% Hungarian-owned corporate groups. While Hungarikum contributes stability, expertise, and transparent advisory services, Callfactory adds technological and operational excellence. Their combined strengths will ensure high-quality, efficient, and scalable customer service capabilities going forward.

Concorde MB Partners acted as the exclusive transaction advisor to the Seller.

• In May 2025, the sale of the strong minority stake in Attrecto Zrt. has closed.
• Attrecto is preparing its domestic and international clients for the new AI-driven era.
• After working with financial investors, the founder-partners and the independent management of Attrecto decided to continue the development of the business with a professional partner GriffSoft, who is a business management system developer.
• Through the transaction, GriffSoft – which serves businesses, fiscal institutions and municipalities – will strengthen its capabilities in the digitalisation field and support the “Moon Landing” project announced last year.

CMBP’s role:

Concorde MB Partners acted as transaction advisor to GriffSoft Zrt.

On April 25, 2025, Goodwill Pharma Plc. successfully listed its shares on the Standard category of the Budapest Stock Exchange.

Goodwill Pharma Plc. is an integrated pharmaceutical joint-stock company founded in 1997, with manufacturing facilities in Hungary and Serbia. It sells its products in 12 additional countries through subsidiaries and distribution partners, focusing primarily on Central and Eastern Europe and the Balkans. Its own manufactured and licensed pharmaceuticals and dietary supplements play an increasingly important role in its sales activities.

Concorde MB Partners was the nominated advisor and financial consultant for the listing

On March 12, 2025, the sale of Gamma Digital Kft. and its two sister companies to Transsystem S.A. was successfully completed.

Gamma Group provides high-quality electrical engineering services in the fields of industrial automation, intralogistics, robotics, and industrial IT. The Group employs around 100 people, mostly engineers. They offer solutions to a wide range of industries, with a strong presence in the pharmaceutical, food, and automotive sectors. In recent years, the Group has carried out the complete design and implementation of numerous automated high-bay warehouse systems, box handling systems, and automated forklift systems.

Polish-based Transsystem has been designing, manufacturing, and commissioning material handling systems for over 30 years, successfully completing numerous projects worldwide. Its competitive advantages include modern manufacturing based on the Quick Response Manufacturing (QRM) management system, an experienced design team, and skilled assembly technicians capable of assembling and commissioning most types of material handling systems and steel structures.

The services of the Gamma Group are practically a perfect complement to Transsystem’s activities. Through this acquisition, the companies become capable of executing even more complex and larger international projects, further enhancing their long-term growth potential.

Concorde MB Partners acted as the exclusive transaction advisor to the Seller.

In March 2025, the majority stake (51%) in Adeptum Kft., a leading distributor of value protection solutions, was acquired by Mobilbox Kft.
Since 1999, Adeptum Kft. has been offering solutions to detect and prevent unauthorized access, with a wide range of applications across key sectors of the economy. The use of security seals, pouches for the transport of cash and valuables, as well as specialized labels and adhesive tapes, provides a clear indication of any attempted unauthorized access to transported or stored assets—whether goods, documents, or cash. These products are applied across various industries including manufacturing, processing, logistics, commerce, and distribution chains. Accordingly, the company’s client base spans a broad spectrum of players within the economy.
Mobilbox Kft., a Hungarian-owned company, has been serving its clients since 1997, and today provides professional services worldwide in the rental and sale of containers and container buildings, along with related supplementary activities. The company operates a rental fleet of nearly 35,000 containers across Europe. Its European operations are supported by 13 subsidiaries, while 2 Mobilbox franchises assist its activities overseas.
Through this transaction, Mobilbox Kft. aims to broaden the group’s product portfolio and strengthen its position in the security seal market. Adeptum Kft.’s proven expertise and niche product portfolio unlocks additional value creation opportunities for the company and contributes to the achievement of its strategic growth objectives.
Concorde MB Partners acted as the exclusive financial advisor to the Seller throughout the transaction.

In February 2025, the sale of 100% of the shares of Flor Kft., a leading Hungarian B2B hygiene and industrial cleaning product distributor to a Hungarian private investor was completed.

Flor Kft. is among the major players of the Hungarian market since its inception. The main business activities include the import and distribution of a wide range of hygiene products, industrial cleaning products, cleaning tools and machines for corporate customers. With Flor’s 1,500 sqm logistics centre, high-quality services, industry-leading digitalised sales process with data-focused customer interface and product offering tailored to changing market needs, clients are supported to implement their hygiene strategy cost-effectively.

The company was acquired by a Hungarian private investor from its founder.

Concorde MB Partners acted as exclusive transaction advisor to the Seller.

On January 16, 2025, the sale of 100% of the business shares of Technocar-MC-2003 Kft. to Lumen Holding Kft. was successfully completed.

The company’s activities cover almost the entire spectrum of metalworking, including CNC and conventional machining, TIG, MIG, laser, manual, and robotic welding, pressing and stamping, press breaking, sheet metal roll & tube bending, flame cutting, grit & sand blasting, wet painting. Production takes place at three locations, with a workforce exceeding 200 employees, manufacturing more than 1,500 different, mainly high-precision products in small and medium production series.

From the very beginning, Technocar’s philosophy has been to provide high-quality, comprehensive, and flexible services to international clients. As a result, nearly all of the Company’s revenue comes from export sales, with key clients being large multinational corporations with whom it has maintained relationships for decades. Despite its name, Technocar does not have automotive industry customers.

The Buyer, Lumen Holding, is an investment company founded by Hungarian private individuals. In recent years, its ownership group has acquired stakes in several industrial enterprises with the aim of leveraging their expertise to further grow and develop these companies.

The exclusive transaction advisor for Technocar-MC-2003 Kft. was Concorde MB Partners.

In December 2024, the sale of the 100% stake in Tom Market Kft. to ZÖLD-KER Kft. was successfully completed.

Tom Market Kft. is a food retailer operating its store network on a franchise basis. Since the company was founded in 2008, the number of stores and franchisees in the network has been growing year by year. In 2024, the company had more than 150 stores in 12 counties in Hungary.

Founded in 1991, ZÖLD-KER Ltd. is a wholesaler of food, chemicals and beverages. The family-owned company now serves more than 3000 retail partners nationwide. In 2018, the Company made its first successful acquisition, acquiring a majority stake in the Debrecen-based Hajdú-Coop Group.

The primary objective of ZÖLD-KER Kft. is to grow and expand geographically in the retail market, which Tom Market, with its significant brand name and store network, primarily operating in Transdanubia, can provide.

Concorde MB Partners advised the seller in the transaction.

In November 2024, the sale of the shares representing the 50% ownership of Impavidus Trade Zrt. to private investors was successfully completed.

Impavidus Trade Zrt. is a distributor of natural feed supplements, soil and plant conditioning products, which can reduce the amount of chemicals used in agriculture, increase the sustainability and yield of animal husbandry and crop production, while saving significant costs.

The seller was advised by Concorde MB Partners during the transaction.

In May 2024, the sale of 100% of the shares of DIY Online Kft., the operator of the online DIY store SzerszamKell.hu, to a Hungarian company engaged in the wholesale and retail trade of electrical appliances and components, was successfully completed. SzerszamKell.hu is one of the country’s largest and most visited independent DIY webshop with one of the most dynamic growth rates in recent years.

The predecessor of DIY Online Kft., a DIY shop in Érd, was founded in 1990 by the Nagy family. The Company has also been involved in e-commerce since 2007. SzerszamKell.hu sells classic tools, garden and DIY products, but also offers products for work safety, electrical goods, home furnishings and chemicals.  In addition to SzerszamKell.hu, DIY Online Ltd. operates several independent brands and thematic webshops, which are part of the Company’s multiwebshop strategy.

Prior to the transaction, the Company was owned by the founder’s family, and the shares were sold to a trading company active both domestically and abroad. SzerszamKell.hu’s online marketing experience, overlapping product ranges, procurement and logistics optimisation provide a solid basis for continued growth.

Concorde MB Partners was the exclusive transaction advisor to the seller.

On 10 April 2024, the sale of the 100% stake of Julius-Globe Kft. to NAVIGATOR Investments Plc. was successfully closed.

Julius-Globe Kft., founded in 1998, is engaged in the design and construction of equipment and precision CNC machining. Located in Győrújbarát, its 1700 sqm plant is equipped with modern machinery and produces nearly 60% of its products for export. Throughout its operations, it has been able to build long-lasting and strong customer relationships as a result of the high quality of the production offered by the Company. Among its customers are major international companies such as Siemens, Körber Group, Schaeffler Group, Koenig&Bauer Group, Coperion Group, Bridgestone and Audi.

NAVIGATOR, which operates on the BSE Xtend market, is first and foremost a holding company specialising in private equity investments, corporate finance and strategic management of generational change solutions.

As an investor, NAVIGATOR primarily acquires and manages industrial manufacturing companies, and has also managed the listing, share issue and capital increase of several companies as a BSE Xtend Nominated Adviser (NOMAD). With the acquisition of Julius-Globe Kft., NAVIGATOR is pursuing its strategy adopted at the time of its IPO to build and operate a significant industrial manufacturing group through acquisitions. The transaction has resulted in the addition of a dynamic and growing engineering company with state-of-the-art manufacturing technology and innovative R&D activities to NAVIGATOR’s portfolio.

Concorde MB Partners was the exclusive transaction advisor of the sellers.

In March 2024, the sale of the majority stake of a Company developing softwares for financial institutions was completed.

The Company has been present in the Hungarian financial sector for decades with its own applications. The Company has a dedicated team and provides development and support services to its customers.

At the closing of the transaction, the Buyer acquired a majority stake in the Company from the Hungarian private owner.

The exclusive transaction advisor to the Seller was Concorde MB Partners.

In March 2024, the sale of 100% of the shares of Pandan Kft., a leading Hungarian flexible packaging manufacturer, to a Hungarian private investor was completed.

Pandan Kft. has been a major player in the Hungarian packaging industry for almost 30 years. With its continuously renewed machinery, it offers its customers a wide range of flexible colour printing solution, including various films and pouches, and has a stable export sales. Among its customers there are players of the meat, dairy and confectionery industries.

The company was acquired from two private owners by a Hungarian private investor. Concorde MB Partners acted as exclusive transaction advisor to the Sellers.

In March 2024, the sale of 100% of the shares of Szőllős Investment Kft. to Vistin Pharma ASA was successfully closed.

Szőllős Investment Kft. was founded in 1996 and is a holding company active in the pharmaceutical industry.

Vistin Pharma ASA is a Norwegian based, listed holding company operating through its subsidiary Vistin Pharma AS, a pharmaceutical manufacturing company. The Company is a leading manufacturer and supplier of active pharmaceutical ingredients used in diabetes medicines.

The acquisition of Szőllős Investment Kft. is the first step for Vistin Pharma to become one of Europe’s leading multi-product API development and manufacturing organisations by increasing its product portfolio in line with its long-term strategy.

Concorde MB Partners was transaction advisor of seller.

The owners of Béker-Soft Informatika Kft. sold 100% of the Company’s shares to Vesta Software Group in February 2024. Béker-Soft is a key player in its sector in Hungary, providing holistic IT services, has been operating since the mid-1990s.

Béker-Soft provides software development, implementation and maintenance services, as well as hardware infrastructure installation and operation services, primarily to medical clinics and a few hospitals in Hungary, with its flagship products being the FŐNIX-Pro Health Information System and DIVAS-PRO Picture Archiving and Communication System (PACS).

The buyer, Vesta Software Group, acquires, manages and builds software companies in various vertical markets and is part of the Jonas Software Group, the subsidiary of Constellation Software Inc, listed on the Toronto Stock Exchange. Béker-Soft is Vesta’s first investment in Central Europe. The founders have kept their top-management position in the Company following the transaction.

Concorde MB Partners acted as the exclusive transaction advisor to the owners of Béker-Soft during the sale process.

In January 2024, the sale of 100% stake of a leading player on the Hungarian civil engineering market, to a member of the company’s management has been successfully closed.

The Company’s stake has been purchased by a leading manager of of the company who played a key role in the recent past in the daily operation of the company, and who will take over the full day-to-day management on an ongoing basis with the support of the exiting owner.

Concorde MB Partners was the exclusive transaction advisor of the sellers.

On 18 December 2023, the sale of 100% of the quotas of Thermowatt Kft. to Veolia Group, GloCap I. Gazdaságfejlesztési Magántőkealap and Trustify I Magántőkealap closed.

Veolia Group companies in Hungary and Poland have acquired a majority stake in THERMOWATT Energetikai és Építőipari Kft., a company developing an innovative technology for the recovery of thermal energy from wastewater. Further stake was acquired by GloCap I. Gazdaságfejlesztési Magántőkealap, managed by Global Capital Kockázati Tőkealap-kezelő Zrt., and by Trustify I Magántőkealap, managed by Trustify Investment Management Zrt.

THERMOWATT Energetikai és Építőipari Kft., founded in 2007 and based in Budapest, is a company specialising in engineering design and energy consulting, as well as the construction and operation of a CO2-free technology based on heat exchangers and heat pumps using waste water heat for heating and cooling buildings.

THERMOWATT’s innovation has won several awards and the company now holds registered, wholly owned patents in 37 countries. This technology is quick and easy to deploy and operate and offers an environmentally friendly and economical solution for energy independence and safety. There are currently 5 such systems in operation in Hungary with capacities ranging from 1 MW to MW.

Concorde MB Partners was transaction advisor of sellers.

Goodwill Pharma Plc. has increased its share capital in the form of a private placement raising HUF 1.3 billion new capital from investors. The Budapest Stock Exchange registered the new shares in the Xtend category on December 20, 2023.

Goodwill Pharma Plc. is a Hungarian integrated pharmaceutical public limited company established in 1997. The Company has manufacturing capacity in Hungary and Serbia and sells products in 10 other countries through subsidiaries and distribution partners focusing on Central and Eastern Europe and the Balkans. The Company’s own-manufactured and licensed medicines and dietary supplements play a growing role in its sales activities.

Concorde MB Partners, as nominated advisor, has provided financial advisory to Godwill Pharma Plc. for the private placement and the registration of shares in the Xtend category of the Budapest Stock Exchange.

“Financial advisory is like heart surgery. You are looking for the best and not the cheapest expertise. We have found it at CMBP.” – Dr. Ferenc Jójárt, founder and CEO of Goodwill Pharma Plc.

Számlaközpont Zrt. is one of the leading providers of electronic invoice issuing in Hungary, who develops and offers e-invoicing solutions primarily for B2B customers using ERP systems.
Since 2010, Számlaközpont Zrt. had received continuous support from X-Ventures Alpha Zrt. through its venture capital funds for the development of the activity. In order to provide further growth opportunities for Számlaközpont, the 50% stake in the Company held by the financial investor was sold to GriffSoft Zrt., an administration system developer. The 50% shareholder-founders stayed on board.
GriffSoft is focusing on budgetary institutions and local governments besides corporate clients. The transaction enables GriffSoft to strengthen its presence in B2B e-invoicing segment, while Számlaközpont gains support for further growth and international expansion.