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Advance Capital is pleased to announce the completion of a deal involving the sale of the carpet services business of Blesk InCare, a leading Russian provider of processing and rental services for floor mats and textile products. The buyer is Elis, a publicly listed company and one of the leading international service providers, with revenues exceeding USD3.5 billion and an established presence in the Russian workwear and linen services market. The acquisition of Blesk InCare will allow Elis to strengthen its position in the Russian floor mat services segment.

Evgeny Antipov, Partner and Managing Director at Advance Capital:

“We are pleased with our long-standing cooperation with Blesk InCare — this is already the second successfully completed deal we have advised on for the company. Overall, transactions of this kind confirm that foreign investors continue to demonstrate interest in entering or increasing their presence in the Russian service sectors focused on serving the non-state segment of the economy.”

Maxim Uryash, Partner and Executive Director at Advance Capital:

“This deal has undoubtedly become a landmark event for the Russian floor mat services market. With the acquisition of Blesk InCare, a new global player — one of the leaders of the global B2B services market, Elis — enters the Russian market. We expect that the arrival of a new foreign investor will increase competition and provide a new impetus for the development of the industry in Russia.”

Advance Capital acted as the exclusive financial advisor to Blesk InCare.

The deal value is not disclosed.