Enterprise Investors: Value of investments and liabilities amounted to EUR 198 million in 2021

The total value of investments and investment commitments assumed by Enterprise Investors (EI) funds amounted to EUR 198 million in 2021. Total revenues from realized exits from investments amounted to PLN 100 million, EI reported.

In 2021, we completed six transactions. All were the result of business relationships built over the years. Five transactions concerned the broadly understood technology sector (two companies from the FinTech industry, two specializing in e-commerce and software house), and one - a very promising sector In order to accelerate growth and finance acquisitions, we have also decided to increase our financial commitment in one of the companies from our portfolio. On the exit side, we sold the Polish leader in the renewable energy sector to one of the international energy companies, it was announced.

In February, under a tender offer announced in the previous year, Polish Enterprise Fund VIII (PEF VIII) acquired shares entitling to 79.02% of votes at the general meeting of shareholders of PragmaGO. The value of the transaction was EUR 9.8 million. The fund also allocated an additional EUR 14.4 million to finance the further development of PragmaGO. Currently, EI owns 89% of the company.

In April, PEF VIII finalized the acquisition of 50.2% of shares in Software Mind, a Polish software producer. The investment, worth EUR 24.3 million, included the buyout of shares and the provision of capital for the company's development.

In July, PEF VIII signed an agreement to acquire 36.3% of shares in Modular System. The transaction was finalized in September. The value of the transaction has not been disclosed. In the following month, PEF VIII announced another acquisition, also finalized in September - into a distributor of mountain and climbing equipment - the fund acquired 80% of shares in the Snap Outdoor company. The value of the transaction has not been made public.

In October, PEF VIII agreed to acquire a 60% stake in Focus Garden, a company that owns one of the leading online stores offering garden furniture and accessories. In the same month, EI increased its capital involvement in Studenac - a chain of convenience stores in Croatia by PLN 13 million.

PEF VIII also acquired 40.6% of FinGO, a financial intermediary company in Slovakia. The fund invested EUR 19.1 million in FinGO.

In May, Polish Enterprise Fund VI sold Wento, which specializes in photovoltaic projects. The transaction value was EUR 100 million, and the investment in Wento generated a total gross proceeds of EUR 139 million.

Since its inception in 1990, Enterprise Investors has established 9 investment funds with a combined total of over 2.5 billion euros.

By the end of 2021, the funds we manage have invested EUR 2.1 billion in 150 companies from various sectors of the economy. This number includes 125 companies from Poland, in which EUR 1.4 billion were invested, and 25 companies from the Central and Eastern Europe region. , the cost of which amounted to EUR 0.7 billion. The funds we manage completed investments in 135 companies and achieved a total gross income of EUR 4.2 billion, of which EUR 1.6 billion was generated by investments outside Poland, according to the report.

The funds managed by EI currently hold shares in 15 companies.

Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. It has been operating since 1990 and established nine funds with a total capital exceeding EUR 2.5 billion. These funds have invested EUR 2.2 billion in 151 companies operating in various sectors of the economy. These funds exited 135 companies with gross proceeds of EUR 4.2 billion.

Source: Enterprise Investors and ISBnews