The private equity fund purchased an 80% stake, with the rest remaining in the hands of the existing owner, the company said on Monday.

Prevent & Deloza has a 150-strong workforce and specialises in protective clothing, including for the army and police. It posted half a million euro net profit for 2018 on sales worth EUR 8.2 million.

Alfi is an asset management firm that specialises in distressed assets and private debt. It founded a private equity arm earlier this year with EUR 50 million investments each from the state-owned SID Banka and and the European Investment Fund.

Publicly available information suggests this is its second private equity acquisition after it acquired in July a majority stake in the Mengeš-based Trival Antene, one of the world's leading manufacturers of antennas and antenna masts.