Integral Venture Partners (Integral), an investment firm, announced today that it has entered into a definitive agreement for a strategic investment in Breaktime, a market leader in clean water and vending machine services in Bulgaria. Integral’s investment will be executed as a capital increase, as a result of which, Integral will emerge as the largest shareholder in the company alongside the founder and CEO of Breaktime, and other institutional and private investors.
Integral manages institutional private equity and growth capital and is focused on investments in the countries of central and south-eastern Europe. Integral’s fund is backed by leading international institutional investors including the EIF, the EBRD and the IFC. Integral covers its pan-regional target market out of hubs in London, Budapest, and Belgrade.
Breaktime, founded in 2012 and headquartered in Sofia, is a market leader in Bulgaria offering its corporate and industrial customers clean water machine services with monthly subscriptions for bottle-free coolers (water purification machines) installed at the point of use; vending machines for beverages, snacks, and coffee; and office coffee services via turn-key dedicated office coffee machines operating on customers’ premises.
Supported by new capital and by Integral as its new anchor investor, Breaktime will plan to accelerate the execution of its strategic plan focused on organic growth of its main water and vending services segments, enhancing its portfolio with adjacent product categories such as air-purifiers and clean water machines for residential use, and, selectively, on market consolidation.
The transaction is not subject to any regulatory approvals and is expected to close within the first half of January 2022. The terms of the investment were not disclosed.