Umgi

Last updated

umgi
Company typePrivate equity firm
Industry Investments
Founded2006;19 years ago (2006)
Headquarters
Kyiv
,
Ukraine
Key people
Andrii Gorokhov (CEO), Nadiia Kaznacheieva (CIO), Olena Shvedova (CLO), Dmytro Maistrenko (CFO), Serhii Melnychenko (COO)
Number of employees
20 (2025)
Parent System Capital Management
Website umgi.com

umgi is a private equity firm with an asset market valuation of USD 500 million. It was founded in 2006 by the international investment company System Capital Management (SCM). [1] umgi invests in mid-sized businesses to support their growth and enhance enterprise value. As of December 2024, its portfolio comprises eight assets across seven countries, with a strategic focus on the green economy, mineral extraction, industrial goods manufacturing, and industrial services.

Contents

umgi has offices in Kyiv, Warsaw, Cyprus, and Spain. It actively explores new business opportunities across Ukraine, the EU, Turkey and India, focusing on sectors such as waste management, industrial minerals, B2B manufacturing, healthcare, energy transition, and AI-enabling hardware. umgi aspires to serve as an investment bridge between Ukraine and global markets by upholding high ethical and professional standards, fostering cross-border collaboration, and building a globally integrated investment ecosystem.

History

In 2006, the Ukrainian diversified group System Capital Management founded the industrial investment holding United Minerals Group (UMG) to manage SCM’s clay mining enterprises. [2]

By 2012, UMG added the flux and dolomite enterprises PJSC “Dokuchaievsk Flux and Dolomite Plant” (Ukrainian: ПрАТ «Докучаєвський флюсо-доломітний комбінат») and PJSC “Novotroitskoye Ore Mining” (Ukrainian: ПрАТ «Новотроїцьке рудоуправління»). [3] [4]  In the same year, UMG launched a new business line for the commercialization of coal combustion by-products (ash and slag materials) from Ukrainian thermal power plants and invested in a greenfield project to establish a microsphere enrichment facility. [5]

In 2013, UMG launched new business lines in mineral fertilizers and industrial logistics, founding INTECH. [6]

In 2015, UMG expanded its operations by launching two new business lines: the wholesale and export of agricultural products, and the processing and sale of rare and technical gases. The following year, in 2016, the company established RTG, which now operates under the name ARNOX.

In 2016, UMG transitioned into a private equity firm, rebranding as UMG Investments. At the time, its portfolio included six assets based in Ukraine with a total business valuation of USD 400 million.

In 2017, the company invested in a greenfield project to build a mineral fertilizer plant (Ukrainian Mineral Fertilizers (UMF); Ukrainian: Українські мінеральні добрива).  That same year, UMG Investments entered the metallurgical by-product processing and commercialization sector. In 2017, its portfolio company INTECH became the management entity for UMG Investments’ assets in industrial goods manufacturing and industrial services. During this period, the company lost control on its dolomite mining business due to the occupation of parts of the Donetsk and Luhansk regions by Russian forces.

In 2018, UMG Investments expanded its industrial portfolio by acquiring the Ukrainian blasting services company PJSC “PVP Kryvbasvybukhprom”  (Ukrainian: ПАТ «ПВП „Кривбасвибухпром“»). That year, UMG Investments consolidated its operations in thermal energy and metallurgical by-product processing into a new portfolio company, Recycling Solutions. It also made a strategic investment in a greenfield cogeneration project utilizing mine methane, known as REGEN.

In 2019, the value of assets managed by UMG Investments company exceeded USD 500 million. [7] [8]

In 2020, UMG Investments added one of Ukraine’s largest logistics operators, the Portinvest group of companies, to its portfolio. [9] It also invested in a greenfield project to create the largest feed additives producer in Ukraine — Feednova. [10] [11] That same year, the metallurgy-related industrial goods business was separated into a new portfolio company called INWIRE.

In 2021, UMG Investments expanded its mining portfolio by acquiring a controlling stake in JSC “Chasiv Yar Refractory Plant” (Ukrainian: АТ «Часівоярський вогнетривкий комбінат»). [12]

At the beginning of 2022, the value of assets under management reached USD 1 billion. [13] The company held 12 assets in Ukraine, Spain, and Italy. [14] Later, it lost control of its limestone business to due to the occupation of the territory by Russian forces. [15]

In 2023, UMG Investments rebranded and changed its name to umgi. [16]

As of 2025, umgi manages eight assets across seven countries: Ukraine, Poland, Spain, Italy, Turkey, Romania, and Serbia. Including its portfolio companies, umgi employs over 1,100 people. The group’s green economy portfolio has been placed under the operational management of INTECH. [17] [18]

Investment activity

umgi operates under a private equity model, investing in established mid-cap companies to drive growth through organic development or strategic consolidation. The firm maintains flexibility in its investment approach, taking either majority or minority equity positions. Typical investments range from $10 million to $30 million, though umgi is open to smaller commitments starting at $2 million and may exceed $30 million when appropriate. The primary objective is to enhance the value of portfolio companies and eventually exit through sales to larger investment funds or strategic buyers. umgi does not invest in startups, instead focusing on businesses that require additional equity capital and external expertise to scale. [19]

The investment team at umgi is actively engaged in sourcing new opportunities across Ukraine, the EU, Turkey and India. These opportunities span key sectors, including waste management, industrial minerals, B2B manufacturing, healthcare, energy transition, and AI-enabling hardware. [20]

In addition to direct investments, umgi serves as an M&A advisor and minority co-investor for foreign investors entering the Ukrainian market. The company provides comprehensive support throughout the investment process, including market analysis, competitive landscape evaluation, negotiations, due diligence, asset valuation, and transaction execution.

umgi also assists Ukrainian investors seeking international expansion, leveraging its network of offices and strategic partnerships. Through local teams based in Poland, Romania, Spain, Italy, Turkey, and India, the company supports portfolio businesses in scaling their operations across these markets.

ESG investments

umgi supports the development of a circular and green economy in its markets and invests in ESG-related projects. [21] [22] [23]

The company established one of Ukraine’s largest recycling enterprises, Recycling Solutions, which manages by-products from thermal power generation and metallurgical processes. Another key portfolio company, REGEN, specializes in converting industrial gases into electric and thermal energy. It develops cogeneration projects that utilize mine methane, coke oven gas, blast furnace gas, converter gas, associated petroleum gas, and landfill gas, contributing to more sustainable and efficient energy use. [24]

umgi also invested in the development of Feednova, one of Ukraine’s leading processors and producers of animal proteins. The company manufactures high-protein feed additives from animal by-products and is the first facility in Ukraine to collaborate with external raw material suppliers, including agricultural enterprises. [25] [26]

Arnox processes and distributes rare and technical gases, including argon, nitrogen, oxygen, xenon, krypton, and neon. [27]

Ukrainian Mineral Fertilizers specializes in the production of granular ammonium sulfate, a by-product of the coke-chemical industry. [28]

umgi’s portfolio companies follow ESG principles. [29] Its investments target public utilities, social infrastructure development, [30] [31] [32] healthcare support, [33] [34] preschool and educational facilities, [35] and the implementation of environmental and educational projects. [36] [37] [38] [39]

Assets

Industrial portfolio

INTECH

INTECH is a Ukrainian group of companies specializing in the production of industrial goods and the provision of services to enterprise clients. Its core areas of expertise include railway logistics, operational support for the production of components used in the metallurgical industry, maritime logistics, industrial blasting services, and the recycling of industrial waste and by-products. The company has been active since 2013.

INWIRE

INWIRE Group is one of the largest producers and suppliers of cored wire and briquettes for metallurgical and foundry plants across the EMEA region. The company exports its products to ten countries and operates production facilities in Ukraine and Turkey.

PORTINVEST LOGISTIC

PORTINVEST LOGISTIC is a leading provider of freight forwarding and customs brokerage services in Ukraine, specializing in maritime, river, and railway transportation, as well as ship agency operations. It is recognized as one of the major players in the Ukrainian logistics market. Since 2010, PortInvest has also implemented a range of investment projects in maritime logistics.

PJSC “PVP Kryvbasvybukhprom”

PJSC “PVP Kryvbasvybukhprom” is one of Ukraine’s most prominent companies specializing in blasting operations and the production of emulsion explosives for mining and processing enterprises. As of 2024, the company employed more than 300 people.

Recycling Solutions

Recycling Solutions is a Ukrainian enterprise focused on the strategic management of industrial waste and by-products. With a commitment to circular resource use and environmental responsibility, the company serves the coal, metallurgical, and thermal energy sectors. Its core activities include the processing and sale of ash and slag materials, as well as metallurgical slags, positioning it as an integrated provider of secondary resource management. [40] [41] [42]

ARNOX

ARNOX is a Ukrainian full-cycle operator specializing in the processing and sale of rare and technical gases. The company supplies both individual gases and custom gas mixtures, develops and implements gas installation projects, and provides comprehensive gas supply solutions to industrial enterprises. ARNOX handles a wide range of gases, including argon, nitrogen, oxygen, xenon, krypton, and neon. Since its founding in 2016, the company has expanded its reach, exporting to over 20 countries and serving industries such as electronics manufacturing, aerospace, scientific research, medicine, and pharmaceuticals.

Ukrainian Mineral Fertilizers

Founded in 2017, Ukrainian Mineral Fertilizers operates a facility for processing and storing mineral fertilizers in Kryvyi Rih (Ukraine). Its main product is granulated ammonium sulfate, with production capacity reaching up to 100,000 tonnes per year. [43]

FEEDNOVA

FEEDNOVA is a leading Ukrainian producer of high-protein feed additives. It is the first facility in Ukraine to accept and process raw materials from external suppliers, including agricultural enterprises. The company offers a full range of services, including the collection, transportation, preparation, and processing of animal by-products. FEEDNOVA is a joint investment project of Effective Investments Group in partnership with the Dutch company Mada Participations B.V. and the investment firm umgi. [44]

REGEN

REGEN is an industrial company that delivers solutions for the utilization of off-gases and the generation of electric and thermal energy for industrial enterprises. It specializes in the development and implementation of cogeneration projects using various gas sources, including mine methane, coke oven gas, blast furnace gas, converter gas, associated petroleum gas, and landfill gas. Since its founding in 2018, REGEN has successfully converted nearly 3,000 tonnes of mine methane into electricity, contributing to more sustainable and energy-efficient industrial operations.

Mining Portfolio

VESCO

VESCO is a leading group of companies specializing in the extraction and supply of ceramic raw materials. It operates production facilities across Ukraine, Spain, Romania, Italy, Poland, and Serbia, with a total annual production capacity of up to 3.5 million tonnes. VESCO exports its products to over 10 countries, serving a diverse international client base in the ceramics industry. [45] [46]

See also

References

  1. ↑ "UMGI investment company invests almost $22 mln in development of SCM Group businesses in 2022-2023, opens plant in Turkey". Interfax-Ukraine. Retrieved 20 June 2025.
  2. ↑ "UMG UNITED MINERALS GROUP LIMITED - CompaniesRegistry.cy". Companies Registry Cyprus. Retrieved 20 June 2025.
  3. ↑ "У 2019 році ринкова вартість активів під управлінням UMG Investments перевищила 500 млн дол. США". www.ukrinform.ua (in Ukrainian). 28 May 2020. Retrieved 20 June 2025.
  4. ↑ "Новотроїцьке РУ знову має намір розширити Західну ділянку розроблюваного родовища на 46,3 га під видобуток вапняку". Інтерфакс-Україна (in Ukrainian). Retrieved 20 June 2025.
  5. ↑ "UMG has started exporting Ukrainian slag to the EU". UMG Investments. 1 June 2016. Retrieved 20 June 2025.
  6. ↑ "Оборот компании INTECH в 2019 году увеличился на 33%". www.minprom.ua. Archived from the original on 23 April 2021. Retrieved 20 June 2025.
  7. ↑ adminerhover (26 May 2020). "In 2019, the value of assets managed by UMG Investments company exceeded $ 500 million". UMGI (in Russian). Retrieved 20 June 2025.
  8. ↑ "У 2019 році ринкова вартість активів під управлінням UMG Investments перевищила 500 млн дол. США". www.ukrinform.ua (in Ukrainian). 28 May 2020. Retrieved 20 June 2025.
  9. ↑ Маргарита (25 March 2021). "Компания «Портинвест» перешла под управление INTECH". Ukrainian Shipping Magazine — Новини судноплавства України та світу (in Ukrainian). Retrieved 20 June 2025.
  10. ↑ "Новий завод «Фіднова» у Буську забезпечить роботою майже сотню людей". old.loda.gov.ua. Archived from the original on 25 June 2024. Retrieved 20 June 2025.
  11. ↑ "FEEDNOVA – історія спільного успіху". Агробізнес сьогодні (in Ukrainian). 12 July 2021. Retrieved 20 June 2025.
  12. ↑ Марущак, Анатолій (28 February 2021). "Економічне зростання: чи спрацює в Україні ефект стисненої пружини?" (PDF). Digital News Magazine. Retrieved 20 June 2025.
  13. ↑ "Українська компанія купила кар'єри в Іспанії, Польщі, Румунії, Сербії та Боснії" (in Ukrainian). Retrieved 20 June 2025.
  14. ↑ БізнесЦензор. "Компанія Ахметова купує кар'єри в Іспанії, Польщі, Румунії, Сербії та Боснії". biz.censor.net (in Ukrainian). Archived from the original on 17 March 2025. Retrieved 20 June 2025.
  15. ↑ "Українська компанія купила кар'єри в Іспанії, Польщі, Румунії, Сербії та Боснії" (in Ukrainian). Retrieved 20 June 2025.
  16. ↑ БізнесЦензор. "Компанія Ахметова купує кар'єри в Іспанії, Польщі, Румунії, Сербії та Боснії". biz.censor.net (in Ukrainian). Archived from the original on 17 March 2025. Retrieved 20 June 2025.
  17. ↑ "«Остался единственный». Ахметов сменил форму собственности своей главной компании". New Voice (in Russian). Retrieved 20 June 2025.
  18. ↑ "Іспанська плитка. UMGI з групи SCM Ахметова інвестувала в глиняний карʼєр в Іспанії — Forbes.ua". forbes.ua (in Ukrainian). 15 December 2023. Retrieved 20 June 2025.
  19. ↑ "У 2019 році ринкова вартість активів під управлінням UMG Investments перевищила 500 млн дол. США". www.ukrinform.ua (in Ukrainian). 28 May 2020. Retrieved 20 June 2025.
  20. ↑ "SCM у I півріччі наростила інвестиції в Україну на чверть". Інтерфакс-Україна (in Ukrainian). Retrieved 20 June 2025.
  21. ↑ Анна, Мартищук (22 December 2023). "«Інвестори готові вкладати в якісні проєкти, коли побачать, що механізми страхування працюють»: інтерв'ю із представником інвестиційної компанії umgi Миколою Шевченком". PaySpace Magazine (in Ukrainian). Retrieved 20 June 2025.
  22. ↑ "UMG дарит частичку своего сердца". Новостной портал ЗИ (in Russian). Archived from the original on 31 January 2021. Retrieved 20 June 2025.
  23. ↑ Chaikovska, Katia (31 October 2024). "BDO in Ukraine at the Mining Day conference : Status and Potential of Ukraine's Mining Industry". European Business Association. Retrieved 20 June 2025.
  24. ↑ Шаня, А. С. (12 December 2024). "Павлоградвугілля". esu.com.ua (in Ukrainian). Retrieved 20 June 2025.
  25. ↑ "Коли відходи дорівнюють сировині ― репортаж із заводу кормових добавок Feednova". kurkul.com (in Ukrainian). 20 February 2020. Retrieved 20 June 2025.
  26. ↑ "Feednova відкрила завод кормових добавок і тваринних жирів на Львівщині". Інтерфакс-Україна (in Ukrainian). Retrieved 20 June 2025.
  27. ↑ "Юрий ХИДОЯТОВ: "Наша стратегия — долгосрочное присутствие на рынке"". Журнал Енергобізнес (in Ukrainian). Retrieved 20 June 2025.
  28. ↑ "«Українські мінеральні добрива» упевнено здобувають прихильність аграріїв". AgroTimes. Retrieved 20 June 2025.
  29. ↑ "На українському ринку добрив з'явився новий національний виробник". Superagronom.com (in Ukrainian). Retrieved 20 June 2025.
  30. ↑ "Полмиллиона гривен от VESCO на решение социальных проблем Дружковки". Дружковка на ладонях (in Russian). Archived from the original on 30 November 2019. Retrieved 20 June 2025.
  31. ↑ "VESCO делает город чище и уютнее". Дружковка на ладонях (in Russian). Archived from the original on 30 January 2021. Retrieved 20 June 2025.
  32. ↑ "Социальная ответственность VESCO в условиях карантина". Дружковка на ладонях (in Russian). Archived from the original on 4 February 2021. Retrieved 20 June 2025.
  33. ↑ "Компания VESCO закупила медицинское оборудование для больниц Дружковки". Дружковка на ладонях (in Russian). Archived from the original on 5 February 2021. Retrieved 20 June 2025.
  34. ↑ "VESCO передало проекты победителям конкурса «Город — своими руками» (фото,". Дружковка на ладонях (in Russian). Archived from the original on 2 February 2021. Retrieved 20 June 2025.
  35. ↑ "Помощь детским садам Дружковки (видео)". Дружковка на ладонях (in Russian). Archived from the original on 31 January 2021. Retrieved 20 June 2025.
  36. ↑ "Компания VESCO провела волонтерскую акцию «Зеленый город» (обновлено фото,". Дружковка на ладонях (in Russian). Archived from the original on 2 February 2021. Retrieved 20 June 2025.
  37. ↑ "«Горняки будущего»: VESCO помогает старшеклассникам в выборе профессии". Дружковка на ладонях (in Russian). Archived from the original on 9 November 2019. Retrieved 20 June 2025.
  38. ↑ "13 лет успешной работы (фото, видео)". Дружковка на ладонях (in Russian). Archived from the original on 5 February 2021. Retrieved 20 June 2025.
  39. ↑ "В УКРАИНЕ СОЗДАЛИ КНИГУ ДЛЯ ДЕТЕЙ О ПЕРЕРАБОТКЕ ПРОМЫШЛЕННЫХ ОТХОДОВ - RecyclingSolutions". RecyclingSolutions (in Russian). 16 June 2020. Archived from the original on 25 February 2021. Retrieved 20 June 2025.
  40. ↑ Chaikovska, Katia (30 March 2021). "Українська інвестиційна компанія UMG Investments готова щорічно інвестувати у нові проекти понад 40 млн долл США". European Business Association (in Ukrainian). Retrieved 20 June 2025.
  41. ↑ Chaikovska, Katia (21 February 2020). "RECYCLING SOLUTIONS реалізує вторинні ресурси української промисловості у 22 країни світу". European Business Association (in Ukrainian). Retrieved 20 June 2025.
  42. ↑ "Топ-25 экокомпаний — DSnews.ua". www.dsnews.ua (in Ukrainian). 23 March 2020. Retrieved 20 June 2025.
  43. ↑ "UMG Investments запустило производство на "Украинских минудобрениях" в Кривом Роге за $11 млн". Интерфакс-Украина (in Russian). Archived from the original on 27 February 2021. Retrieved 20 June 2025.
  44. ↑ "До інвесторів Feednova приєдналася компанія UMG Investments". landlord.ua. Archived from the original on 18 April 2021. Retrieved 20 June 2025.
  45. ↑ "Іспанська плитка. UMGI з групи SCM Ахметова інвестувала в глиняний карʼєр в Іспанії — Forbes.ua". forbes.ua (in Ukrainian). 15 December 2023. Retrieved 20 June 2025.
  46. ↑ Орлюк, Михайло (14 December 2023). "Компанія Ахметова відкрила новий кар'єр та дослідницький центр в Іспанії". Бізнес.Цензор. Retrieved 20 June 2025.
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