Lots of tourists are attracted by Georgian nature and cuisine. However, to truly experience Georgian culture and its many traditions, you must attend a few of the festivals held both in the capital and throughout the country.
On the 13th of August, Paavo Järvi and the Estonian Festival Orchestra performed at the Royal Albert Hall in London during its famous Proms season.
Batumi is the second-largest city of Georgia, located on the coast of the Black Sea in the country'ssouthwest.
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09:00 28-04-2018
GAZELLE FUND LP INVESTS IN PRIME CONCRETE, A LEADING EPC CONTRACTOR IN GEORGIA Gazelle Fund LP has invested US$1,000,000 in Prime Concrete LLC to expand its operations in western Georgia. Founded in 2008, Prime Concrete LLC has grown to become one of the leading Engineering, Procurement and Construction (EPC) contractors in Georgia.

“We are excited that our first equity investment in Georgia is Prime Concrete, a real innovator in EPC contracting in this country,’” said Jeffrey Liebert, CEO of Gazelle Finance. “Prime Concrete has demonstrated that a local Georgian company has the capacity to compete and win domestic and international public tenders for strategic infrastructure projects, which is critical for a country that anticipates investing over $3.5 billion dollars over the next three years in infrastructure projects.”

Gazelle Fund LP is a small-cap mezzanine investment fund managed by Gazelle Finance that targets small and medium enterprises in the South Caucasus, Eastern Europe, and Central Asia regions. A “gazelle” is a company that can sustain revenues at a compounded annual growth rate exceeding 20 percent over a five-year period.

With this financing Prime Concrete will be able to acquire equipment to increase its technical and operational capacity, which will enable the company to execute larger scale civil works construction projects utilizing highly skilled labor, sourced locally. This financing enables Prime Concrete to grow and create value in the western region of Georgia, particularly Samegrelo and Imereti, regions that are prioritized by the Georgian government for economic development and are critical gateway regions linking the Black Sea with Europe and Asia.

The infrastructure and civil construction market outlook continues to be positive, especially in the western part of Georgia, in which there is substantial infrastructure investment targeting port facilities (e.g. Anaklia Deep Sea Port and Poti Port) and enhancing rail and highway interconnectivity with interior Asia. Prime Concrete is well positioned to play a leading role in this boom in infrastructure development, as it has a proven track record of leading EPC projects, particularly in the marine, waste water treatment, and road infrastructure segments.

“Prime Concrete has very ambitious plans to grow and become the leading Georgian EPC contractor following the best practices of international construction standards,” said Prime Concrete CEO and Co-founder Alexander Sokolovsky. “Long-term financing is in short supply for companies operating in the Georgian construction industry. Partnering with Gazelle Finance enables us to rapidly grow our business and keep pace with the increasing demand for engineering and construction services for infrastructure investment projects.”

The country of Georgia has been a leader in the region in implementing economic reforms to attract foreign direct investment. Gazelle Fund LP is an excellent example of cross-border cooperation between local and international institutional investors. It is backed by some of the leading European and U.S. development finance institutions, including, FMO (Dutch development bank), Dutch Good Growth Fund (DGGF), U.S. Overseas Private Investment Corporation (OPIC), and one of Georgia’s largest state financial institutions, JSC Partnership Fund.

Gazelle Finance
Gazelle Finance (www.gazellefinance.com) is an investment manager that targets growth-capital investments in small and medium enterprises (SME) in the Eurasia region. Gazelle Finance addresses the barriers to SME financing by offering a "mezzanine"-like investment product that is self-liquidating. This approach addresses the constraints of market illiquidity that is typical of many emerging and frontier markets, while providing a combination of patient risk capital and the know-how of a strategic investment partner to allow SMEs to rapidly develop and grow their businesses.

Prime Concrete

Established in 2008, Prime Concrete (http://www.primeconcrete.ge/en/) works as an EPC contractor in marine construction, water infrastructure and other civil work projects. Since 2012, the company created a portfolio of USD 28 MN in infrastructural projects. Out of the total portfolio, USD 25 MN are successfully completed projects and USD 2 MN are existing projects which started in 2017. Asides from its main revenue generator in construction and project management, Prime Concrete also owns s concrete production facility and manufactures aggregates for concrete and asphalt.

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