BAŠTINA CAPITAL

LONG-TERM OWNERS OF SERBIAN BUSINESSES

What you built should outlast the handover.

Ono što ste izgradili, ostaje.

Bastina Capital acquires established, owner-managed companies in Serbia and the wider region. We keep the name, the team and the customers, and we give founders a clear path to step back on their own terms.

Speak to us in confidence See how it works

WHY BAŠTINA

Baština: heritage, the thing that is handed down.

Across Serbia, thousands of companies founded in the 1990s are now run by owners who want to step back. Many have no successor in the family. Too often the business is wound down, or sold to a buyer who strips it.

We exist for the other outcome. We buy good businesses to keep them, run them well and grow them, so the work of a lifetime becomes a legacy rather than a closing-down sale.

WHAT WE DO

We become the next owner, and we stay.

Majority acquisitions

We buy a controlling stake in profitable, established companies. Founders can keep a share and a role if they wish.

Continuity first

The name on the door, the management team, the staff and the customer relationships stay. Change happens carefully and with the people who know the business.

Growth with a network

We bring international capital, financial systems and relationships across Europe, so each company can win new customers and markets.

WHAT WE LOOK FOR

Owner-managed companies with a track record of 10 years or more, consistent profits and a loyal customer base.

SIZE

Annual revenue of EUR 0.5m to 5m. Ten or more employees.

SECTORS

Manufacturing and industrial services, food and distribution, healthcare services such as dental and veterinary, and B2B services.

WHY PARTNER WITH US

Local reach and international standards, side by side.

Local reach

  • Partners with relationships in Serbia since 2010
  • Leading Belgrade legal, tax and accounting advisers on every deal
  • Meetings at your premises, at your pace, with Serbian-speaking advisers
  • Respect for how family businesses are really run

International standards

  • Deal leadership trained at Goldman Sachs and global banks
  • Governance, risk and reporting at institutional level
  • Access to capital, customers and suppliers across Europe
  • Clean, transparent structures that banks and buyers trust

HOW IT WORKS

A clear, confidential process, at your pace.

  1. 01 A private conversation We listen to what you want for the business, your team and yourself. Nothing leaves the room.
  2. 02 An indicative offer A written letter of intent setting out value, structure and your future role, if you want one.
  3. 03 Careful review Our advisers and yours work through the details together, with minimum disruption to the business.
  4. 04 Completion and handover An agreed transition plan, so staff, customers and suppliers see continuity from day one.
  5. 05 Growing together Long-term ownership, investment in people and systems, and a seat at the table for founders who stay.

WHO WE ARE

Two partners with decades in international deals, and a long connection to Serbia.

Nick Adasi

FOUNDING PARTNER

Began his career in M&A at Goldman Sachs in New York and London, advising on transactions including KKR's acquisition of Alliance Boots and the sale of Jimmy Choo. Later Managing Partner leading the UK M&A team at DealGlobe, advising international buyers on European acquisitions. Has worked in and around Serbia since 2010.

Kelechi Onukogu

FOUNDING PARTNER

An internationally recognised financial services executive with more than 25 years' experience across enterprise transformation, risk and controls management, governance and organisational operational resilience across some of the world's largest banking institutions, including Deutsche Bank, J.P. Morgan, Barclays, Wells Fargo and NatWest. Leads governance, risk, operations and reporting across the group.

TRACK RECORD

Operators as well as investors.

We have advised on major international transactions, served the world's largest banks, and today build and run our own operating businesses in the UK.

TRANSACTIONS

M&A at Goldman Sachs, including KKR's acquisition of Alliance Boots and the sale of Jimmy Choo. Cross-border acquisitions for international buyers at DealGlobe.

INSTITUTIONS

Goldman Sachs, Deutsche Bank, J.P. Morgan, Barclays, Wells Fargo and NatWest.

UK OPERATING BUSINESSES

Niru Experience, a premium short-stay hospitality management company, and Spotless Stars, a B2B property services business. Built on systems, automation and lean teams: the playbook we bring to every company we own.

Markets: Serbia first, then the Western Balkans. Based in London, working in Belgrade.

Discretion

Every conversation is confidential. Your staff, customers and competitors hear nothing until you decide.

Straight dealing

Clear terms in writing, no surprises late in the process, and a transparent structure that banks and advisers understand.

Patience

We are building a group to own for the long term, not to flip. Decisions are made with the next generation in mind.

START A CONVERSATION

Thinking about the future of your company?

Owners, advisers and introducers are welcome. We reply within two working days.

[email protected]
Based in London, working in Belgrade

Write to us in confidence

A short note is enough: who you are, the company, and what you have in mind. Every enquiry is read by a partner and treated as confidential.

Email [email protected]