Denis Fudurić Becomes the New Owner of the Zagreb Institute for Safety

Financial advisor Denis Fudurić recently stated on his LinkedIn profile that he has managed to acquire 95 percent of the shares in Institute for Safety d.d., a company that, as stated on their official website, provides research and development services in the fields of occupational safety, fire protection, and environmental protection.

– This move marks my entry into the health and safety business. I believe the company has great growth potential, and I look forward to introducing new lines of business, new partnerships, and ultimately, a turnaround in success – Fudurić wrote in his post.

In an interview with Lider, Fudurić mentioned that he has not yet put the ‘company under control’ as the transfer of ownership has just been executed, but first, a shareholders’ meeting must be convened, after which a supervisory board will be appointed, and Fudurić emphasizes that only then can he say that the company is under his control. Due to personal reasons, this process has been delayed, but the financial advisor expects to have a clear picture of the company’s status and situation, as well as its personnel, this autumn, after which he will be able to ‘take some actions’.

– What is certain is that I plan to work on the growth and development of this business. I already have ideas and plans regarding some connections, strategic partnerships, business expansion, and new services, so I am confident that this will be a solid foundation for good growth. I also expect that this will develop into a significant and beautiful story in two to three years – Fudurić said during a phone call, adding that regarding his own company InterFinance, nothing will change in that area, and it will remain a separate company in his ownership. Fudurić emphasizes that he ‘enters companies that he assesses have growth and development potential’.

InterFinance was founded in 2002, with Fudurić at the helm. The company provides financial consulting services and highlights on its official website that it is ‘particularly active in the field of consulting on mergers and acquisitions and restructuring of companies’. The company is also involved in judicial expertise for finance, securities, and investment funds.

Business Daily has also recently reported on the new owner of the Zagreb company Institute for Safety. The portal reports that Fudurić purchased the majority stake in the privatization process for 650,000 euros, thus meeting the price set by the state for the sale of a total of 40,259 shares, or 95.60 percent of the share capital. According to data from Fudurić’s LinkedIn profile, where it is noted that he has been the chairman of the Supervisory Board of Pastor TVA, a fire extinguisher factory, for a year, it can only be speculated whether the financial advisor will connect these two companies. Fudurić is also linked to the sale of his 53.08 percent stake in Finvest Corp, a Čabar company best known for parquet production, which was taken over last year by Pan Parket from Čačinci with its 70.77 percent stake.

The Institute for Safety is one of the smaller companies from the majority portfolio of Center for Restructuring and Sale (CERP), and at the end of last year, it was advertised for sale for the first time after a long-standing sales blockade due to unresolved property-legal relations dating back to the 1990s. The company has been operating since 1960 under the leadership of Branko Kustura, and according to the financial report for the previous year, it employs 11 workers and generates total revenues of 426,000 euros.

After resolving the issues that hindered the sale, CERP managed to put its shares up for sale, and in the first round, there were no interested parties, while in the second tender, two applications were received for participation, but only one offer, Fudurić’s, which is unofficially known to have been made as a private individual.

The sale of shares in the Institute for Safety was, in fact, the first privatization of this year from the majority state portfolio, in which there are still 10 companies left.