Company Profile - Expertise

OXYGEN Finance was created as a distinctive financial advisory concept blending extensive international financial expertise with specific local knowledge and network. The services and the financial products offered to our clients are differentiating significantly from the competitors’ ones in the way that we are trying to bring maximum of support and value to our customers in a personalized form of relationship built on trust and commitment. We fully support our clients, working together side by side along the way, from the moment of a simple idea until the project successfully closes.

The key value of OXYGEN Finance   is the people; the team of professionals has expertise in structuring financial transactions in the fields of:

  1. Private Equity
  2. Structured Finance, and
  3. Mergers and Acquisitions

Since 2007 when the three main partners founded OXYGEN Finance, the company advised and managed to close 20 transactions, with a cumulated deal value in excess of the EUR 300 million

Advisory & Consultancy - Services

Private Equity Advisory

Structured Finance Advisory

Mergers and Acquisitions Advisory


  1. Entrepreneurs willing to accelerate the growth of their business with private equity funding (most of the cases)
  2. Management buy-outs where the management teams wants to invest in and/or gain ownership of their employer company
  3. Management buy-in teams searching for investment opportunities outside the boundaries of their current company
  4. Private equity houses looking for extra origination capabilities to generate new transactions, to invest or to exit from existing investments


  • A private equity advisor should provide more than financial support and expertise to the owners and the management of the companies willing to raise equity capital to fund their fast-growing development. The process of partnering with an institutional private equity investor means a real change of mentality, business style, management patterns, vision and strategy for most entrepreneurs and managers. Therefore, OXYGEN Finance chooses to take the road of such a transaction alongside our customers as they feel the need to use our expertise, adapted to each client pace and rhythm. This kind of skill, which is rather a vocation calling, should be the first quality of a successful private equity advisor. Here, at OXYGEN Finance, we highly encourage our partners and staff to get themselves fully involved in each project, to work with passion, but objectively, together with our clients, in any transaction that we contemplate. Then comes the technical expertise which consists of:

    ON THE SELL SIDE we are preparing private companies for accessing private equity capital by advising on operations such as:

    1. Origination and valuation,
    2. Deal structuring and strategic advisory,
    3. Advising on the most appropriate capital structure (equity, mezzanine and debt),
    4. Documentation (Valuation, Investment Memorandums, Business Planning),
    5. Introductions to appropriate sources of private equity with matching investment criteria
    6. Investment proposition,
    7. Assistance in negotiating the terms of the deal,
    8. Assistance in signing through to closing,
    9. Exit road map planning

  • ON THE BUY SIDE, OXYGEN Finance is assisting private equity funds as adviser in connection with sourcing and executing private equity transactions, as follows:

    1. identification of investment opportunities,
    2. support of the preparation of the Investment Summary / profile,
    3. assistance in negotiation of Term Sheets / preparation of Investment Memorandum
    4. assistance with due diligence content and schedule,
    5. advise on financial structuring,
    6. preliminary advise on legal structuring of the transaction,
    7. advice on investment and /or loan agreements;


  1. General Contractors executing infrastructure works/investments for central and local governments (state own companies, city halls, county councils) in the supplier-credit formula with issuance and discounting of Promissory Notes.
  2. Private and public investors executing new infrastructure and production/services projects to be financed under the Project Finance model using also the supplier-credit formula with issuance and discounting of Promissory Notes.

   OXYGEN Finance specialized as the only advisory company in Romania with extensive expertise and track record on the supplier-credit form of financings with trading of Promissory Notes issued by sub-sovereign organizations (such as municipalities, county councils, state-owned companies) to general contractors for the execution of large infrastructure projects. In most cases general contractors are outsourcing the engineering/design, construction and erection works, as well as the financing, to concentrate on the project management, major equipment commissioning, installation, and start up.

   OXYGEN Finance is fully advising the contractors about the way to request from the beneficiaries the issuance of the Promissory Notes and the side documents in such a way that all these documents put together as a package should create a strong structured finance product attractive to the secondary market buyers (commercial banks, insurance companies, pension funds, investment bankers and capital markets). OXYGEN Finance can either trade the notes or just advises the contractors to sell the notes to the secondary market buyers. However, in most cases OXYGEN Finance is trading the notes going together with the contractors as consortium partners for the specific projects in part.


Structured Finance advisory services include:
  1. Deal origination (in most of the cases the beneficiaries are looking forward to solve the financing issue before engaging in organizing a tender for designating the general contractor)
  2. Deal structuring advises to the contractor (timing of operations, form and criteria of the documents to be requested by the contractor to the beneficiary, financial analysis of the indebtness capacity of the beneficiary, legal requirements, etc)
  3. Analyzing the documents provided by the beneficiary
  4. Preparation of the financial offer and the supporting documents (including eligibility / similar experience and references) to be submitted at the tender auction, upon request of the general contractor
  5. Negotiation with the secondary market buyers and trading the notes, including drafting all trading documents including the assignment of receivables resulted from the construction contract based on which the promissory notes are issued and traded by us.


  1. Entrepreneurs and business owners willing to sell off their current companies (most of the cases) or buy new companies
  2. Joint ventures of two or more investors willing to operate together a new business entity
  3. Mergers of two or more business operations into a vertical integration or horizontal diversification strategy
  4. Debt raising (senior and subordinated bank loans, project finance, leverage financing, leasing, mezzanine finance, convertible debt)
  • In our view, the successful M&A deal is a combination of three factors:

    1. an efficient use of the personal and corporate network,
    2. pragmatic and realistic set up of expectations for the buyer or seller, and
    3. smooth, fast and accurate lead of the selling/buying process

  • In our view, M&A Advisory is unique, specific to each project, depending on the different needs of our client, bearing the mark of the personal approach (for the entrepreneurs, any project related to the business they developed from beginning is personal). OXYGEN Finance is an independent advisory house, as opposed to an industry scale model of the large multinational investment bankers and corporate finance advisors, and because of that, our relationship with our clients is a relationship created together with our client, rather than a serial industrial service provided to the client such as a ready available product. The main support for this approach is our people’s connection to the deal and their retribution which is success-driven and linked as a fee, individually, with each project, rather than a holistic bonus approach at year end like in large multinational advisory organizations.


M&A advisory services include:
  1. Deal origination
  2. Valuation of the company(ies)
  3. Assistance and advisory to the management in preparing business plans and financial modeling
  4. Co-ordination of IFRS auditing
  5. Normalization of EBITDA from one-offs, exceptional and non-recurring revenues and expenses
  6. Co-ordinate other advisers (eg due diligence providers, lawyers, etc)
  7. Strategic advice and assistance with deal planning and competitive process management
  8. Assistance in selection of an investor/buyer, support during due diligence and advising on the negotiation of the transaction documents through to closing
The Team - Partners and Collaborators

  • Marius Tudor

    Marius TUDOR, 39, Partner

    Marius is a founder of OXYGEN Finance, has extensive experience in the financial advisory field and has structured and led all major mandates of OXYGEN Finance. Marius has main responsibilities on business generation and is actively managing together with the other team partners the execution of the projects for all the three business lines.

    Before setting up the company, Marius was significant shareholder and General Manager of SvWP ProFinance, a financial advisory company, acted as principal banker for one of the largest commercial banks in Romania, and also has been working as financial analyst and asset manager for two securities companies trading at Bucharest Stock Exchange.

    Marius graduated in Business Administration from the Academy of Economic Studies Bucharest in 1997, TEMPUS program in English with specialization on Financial Markets, Stock Exchanges and Monetary Policy.

Transactions References - Ongoing or Recent Track Record

Oxygen Finance advises the shareholders of one of the leading premium FMCG distribution and logistics company in Romania, with sales exceeding Euro 22 million per year, in a combined cash in/cash out transaction involving a signicant equity stake.

OXYGEN Finance advises the shareholders of a top rail cargo and forwarding Romanian company to sell it to the largest east-european similar company. OXYGEN Finance is in charge with organizing the whole transaction process through to closing. Estimated transaction value 35 million EURO

OXYGEN Finance advised the shareholders of Romanian Business Consult to sell a significant minority package to the Sweedish private equity fund ORESA Ventures. RBC is a main supplier of IT solutions for the retail and FMCG industry having as main clients all the major international retail chains operating in Romania and most of the major meat processors.
Value of the transaction not disclosed

OXYGEN Finance is advising the shareholders of a significant cosmetics company in Romania to raise private equity capital to expand current operations in Romania and in the region by ways of acquisitions and organically

Oxygen Finance advised in the capital expansion for TEB , a company active in the co-generation business and energy optimization in Romania, representing the world leader manufacturer of co-generation power plants, General Electric.

Euro 6,300,000

Oxygen Finance partners advised in the sale preparation and transaction involving divestment of the pharmacies business line – Europharm, consisting in a chain of 33 pharmacies in Romania.

Euro 10,000,000

Oxygen Finance partners advised 3TS Capital Partners in connection with sourcing and executing various private equity transactions in Romania for 3i Group Plc by finding and referring investments opportunities.

Euro 120,000,000

Oxygen Finance partners advised 3i and 3TS Capital Partners in a combined cash in and cash out private equity transaction where 3i bough a minority package in one of the largest private clinics operator in Romania.

Euro 15,000,000

Oxygen Finance partners advised in a sell-side mandate for 100% of the shares of Easycall, the largest data center operator in Romania.

Euro 4,500,000

Oxygen Finance partners advised 3i and 3TS Capital Partners in a combined cash in cash out private equity transaction where 3i bought a significant minority package in the leading cleaning services operator.

Euro 12,000,000

Oxygen Finance partners advised on the merger of two of the largest private Romanian railway operators.


Oxygen Finance partners advised in the transaction involving a significant share stake in one of the largest holding companies in Romania, active in banking, insurance, car sales, leasing, real estate, media and cash & carry hypermarkets. The transaction due to the 9/11 events.

Euro 300,000,000

Strategic advisory for Hornbach, the largest DIY chain in Europe to set-up a subsidiary in Romania and build more than 15 large hypermarkets all-across Romania, including advisory on acquisition of Prisma location.

Euro 20,000,000

Oxygen Finance has been retained by the shareholders of one of the leading paints and varnishes producers in Romania, for the sale of the majority share stake to a regional strategic player (ongoing).

Euro 20,000,000

Oxygen Finance partners advised in the sale of 100% of the shares of the largest East European manufacturer of expanded polyethylene products to Pregis Corporation. Total transaction value of Euro 12 million.

Dolar 12,000,000

Oxygen Finance in a joint mandate with Capital Partners, advised in the sale of promissory notes issued by CNADNR for construction of a strategic road, for ROMSTRADE company.

Euro 140,000,000

Oxygen Finance advised on financing an on-going project for road infrastructure works developed in a Romanian Large City.

Euro 36,000,000

Oxygen Finance advised in a transaction involving forfeiting of promissory notes issued by a company owned by a Romanian Large City Municipality in favor of a contractor for road rehabilitation.

Euro 15,000,000

Oxygen Finance advised in a transaction involving promissory notes issued by Eforie Municipality in favor of a contractor for roads rehabilitation

Euro 6,500,000

OXYGEN Finance advised in securing financing for ROMELECTRO as an EPC contractor engaged by ECOGEN Energy to install a co-generation power plant to supply heat and power for the municipality of Buzau.

Euro 14,500,000

OXYGEN Finance partners advised an International Constructor to trade promissory notes issued by a company owned by a Romanian Large City Municipality for road rehabilitation works.

Euro 5,500,000

OXYGEN Finance partners advised a construction company to trade promissory notes issued by Romanian National Roads Administration Company (CNADNR) for roads construction works.

Euro 5,300,000

OXYGEN Finance partners advised an International Constructor to trade promissory notes issued by a company owned by a Romanian Large City Municipality for road rehabilitation works

Euro 12,000,000

OXYGEN Finance partners advised an International Constructor to trade promissory notes issued by a company owned by a Romanian Large City Municipality for road rehabilitation works

Euro 4,800,000

OXYGEN Finance has a buy side mandate from a significant importer and distributor of adhesive tapes, reflecting materials and solutions to buy an on-line platform / distributor of similar products.

OXYGEN Finance has a buy side mandate from the market leader in the Romanian meat based cans industry to buy a complementary canned vegetables, gems and pickles local producer in view of diversifying the business lines.

OXYGEN Finance has a mandate from the owners / developers of a large residential project consisting in 850 apartments in a very good location close to down-town Bucharest to raise debt and equity necessary to finance the project.


Marius TUDOR, Partner
Mobile: +40 722 654 725
E-mail: marius.tudor [@]

Roxana GAVRILA, Partner
Mobile: +40 728 963 537
E-mail: roxana.gavrila [@]

Oxygen Finance SRL

22, Nicolae Caramfil Street
2nd floor, office 201
Sector 1

Phone: +40 (21) 211 4405
Fax: +40 (21) 211 4406

Copyright @ OXYGEN FINANCE - 2011 , All Rights Reserved    |    Email: office [@]    |    Phone: (+4) 021 211 44 05    |    Fax: (+4) 021 211 44 06    |    Webmaster

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