BlackPeak Capital has announced its investment in Security Smart Systems, a leading Bulgarian electronics manufacturing services company. The total round amounted to €8 million, as the fund informed AIN.

About Security Smart Systems

  • Security Smart Systems, founded in 1994 by four engineers, has 30 years of experience in electronic and electromechanical product development and production. 
  • Headquartered in Vratsa, Bulgaria, it employs over 200 people and contributes significantly to the regional economy. 
  • The company's success is attributed to Ivo Varganov, his family, and partners Lyubomir Bonchev and Krasimir Nachev, who have steered the company to a  leading position in the sector, focusing on innovation, quality, and outstanding customer service.

Investment details

The investment aims to modernize and expand Security Smart Systems' production capacity by attracting a professional management team and broadening services in collaboration with Stark Invest Company.

“We are confident that with the introduction of professional management and the provision of capital for modernization and capacity expansion, we will continue to build on the company’s solid foundation. We are excited to support not only the high-tech manufacturing sector in Vratsa but also to sustain Mr. Varganov’s social role as one of the top employers in the region,” said Kiril Ivanov, Partner at BlackPeak Capital.

  • Following the deal, Sashka Stanislavova and Georgi Atanasov have joined Security Smart Systems' management team, bringing their extensive expertise in industrial automation components and mechanical engineering to the company's future growth. Atanasov, a Dresden Mechanical Engineering graduate, has led production companies in the Czech Republic and Bulgaria.
  • Ivo Varganov, who has led the company for 30 years, will remain as Technical Director and counsellor to the newly appointed management team. His expertise and ideas will be valuable for the company's future initiatives. 
  • The restructured ownership and leadership of Security Smart Systems aims to increase the company's market position while delivering cutting-edge and superior electronic solutions.

The investment intends to boost the company's profitability and benefit the local economy in Vratsa, a financially untapped region in Bulgaria and the European Union.

About BlackPeak Capital

BlackPeak Capital, established in 2014, invests €5-15 million in SMEs in Romania, Bulgaria, Slovenia, Croatia, and Serbia. Its second fund, BlackPeak Southeast Europe Growth Equity Fund, partners with entrepreneurs to build world-class companies. The fund is supported by the European Investment Fund, the European Union, Invest BG, the EBRD, the IFC, and other European private institutional investors.