Olympia Capital Partners Announces Strategic Investment and Partnership with Market-Leading Product Development & IT Solutions Firms Maestral Solutions and Mistral Technologies

November 30, 2020

Olympia Capital Partners (“OCP”), a global independent private equity firm announced a partnership and strategic investment in IT Solutions firms Maestral Solutions (“Maestral”) and Mistral Technologies (“Mistral”). Following this transaction, the two companies will further integrate their activities and the combined group (the “Group”) will be headquartered in Amsterdam, Netherlands.

Maestral and Mistral are leading IT Solutions firms that together employ over 200 IT professionals in Europe and the U.S. They operate a product development as a service (PDaaS) model and participate across the full software development cycle for global blue-chip, mid-size and startup clients. Maestral is based in the U.S and the Netherlands, with offices in Atlanta and Amsterdam; and Mistral is based in Bosnia and Herzegovina, with offices in Sarajevo and Mostar.

Both firms have quickly grown into trusted global IT partners, that combine high-quality technology solutions with cost effectiveness

Maestral’s depth of expertise in software product development and technology has led to long-term relationships with numerous Fortune 500 and high growth SME clients; and Mistral’s unique approach to employee culture and development has led to industry leading retention and a pool of South East Europe’s (“SEE”) most accomplished IT professionals.

OCP brings deep expertise in M&A, international expansion, and operational excellence to the partnership, which will be critical as the combined Group undergoes its next phase of growth. OCP’s Partners Nedim Music and Almir Jazvin, who have together arranged over $4 billion of transactions in the IT/Technology space, will join the board of the Group and provide expertise as the business seeks to increase its presence organically and inorganically through Western European and North America.

Following the transaction, Amila Pita, who brings over 25 years of experience in the IT space, will join as the Chief Business Development Officer. Roberto Ramadhin and Peter Lizza will join the Board of Directors of the Group, bringing deep sector experience having previously worked for Boston Consulting Group, Deloitte and Capgemini. The CEO of the Group will be Sanin Saracevic. Mersed Camdzic will be heading up European operations while Frank Torres will be the Chief Operating Officer in charge of the US operation. The leadership team in Bosnia will remain unchanged.

“I started Maestral after recognizing that many outsourced IT companies were failing to provide product development clients with a high-level of service and expertise necessary to properly support aggressive and demanding Product Development Roadmaps. Our intimate knowledge of the Bosnia and Herzegovina market meant that we knew the region had the technical talent and work ethic to overcome these challenges. Since 2010, we have rapidly expanded our business and allowed the talented and driven professionals of Bosnia and Herzegovina to showcase their skills on complex global projects. Our partnership with OCP will enable the continuation of our mission to develop a deep and rich community of technical professionals in Bosnia and Herzegovina, while increasing the number of clients we can serve,” said Sanin Saracevic, Founder & CEO of Maestral.

“We are excited to announce our partnership with OCP and further integration with Maestral. OCP’s financial and operational support, as well as their global network of relationships will be pivotal as we work to accomplish our growth strategy over the next 5 years. At Mistral, we pride ourselves on putting people first. This has enabled us to amass the region’s most talented, engaged, and well-rounded IT professionals. OCP understands this vision and believes, as we do, that Mistral’s talent and culture are what sets us apart. We are ecstatic to find a partner with whom we are so aligned, and we are excited to expand Mistral’s footprint around the world,” added Mersed Camdzic, Founder & CEO of Mistral.

Nedim Music, CEO and Co-Founder of OCP, pointed to the importance of the partnership to OCP, “We have been watching and admiring the success of these two companies for several years. Their ability to build a global product development platform without outside investment is nothing short of exceptional. The vision of Sanin and Mersed, combined with the resources and expertise of OCP, creates a terrific opportunity to build a regional, and eventually global IT powerhouse. We firmly believe in the competitiveness and depth of talent in the SEE market, and we are thrilled to support Maestral and Mistral’s continued success. The IT market in SEE is highly fragmented and the combined Group will serve as a platform for future acquisitions in the region as we look to consolidate the market.”

“The private equity landscape is not as developed in SEE as in other areas of the globe. OCP was founded with the goal of changing this, by supporting local entrepreneurs working to expand their operations around the world. By partnering with leading businesses in the region, OCP is committed to increasing employment opportunities and fostering economic growth. Mistral and Maestral represent the dynamism and strength of businesses in BiH, and we are thrilled for the opportunity to play a role in their story,” added Almir Jazvin, Co-Founder & Managing Partner of OCP.

NBm Group provided financial due diligence services to OCP, while Wintertaling provided legal advice. STP Tax Lawyers provided tax advice.

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