Central & Eastern Europe
Fund in Focus: INVL’s Baltic vehicle with wider ambitions
Fund "will be the top choice for local and foreign investors who understand our region" says INVL's Deimante Korsakaite
Alternative asset classes set to see biggest increase in fundraising in 2024
Some 71% of wealth managers and institutional investors surveyed by Carne Group expect to increase their allocation to private equity by 10% or more this year
Genesis Capital’s HP TRONIC Group buys back shares from GP
The Central European investor first backed HP TRONIC in 2017
bValue raises €90m to back tech scaleups in CEE
The announcement comes a year after bValue’s first close
Genesis Capital acquires Hungarian automotive-distribution IT specialist
The GP aims to capitalise on the ongoing digital transformation in vehicle distribution chains
Genesis Capital’s first growth equity fund marks inaugural exit
The GP first invested in Homecare Holding in 2020
Mutares powers up Polish high-voltage services business
The carve-out is the third transaction by Mutares in 2024
French VC Quantonation raises €70m
The fund is dedicated to investing in quantum technologies
Ardian sells logistics company Staci for €1.3bn EV
During Ardian's holding period Staci completed two acquisitions
Expect fundraising to slow following ‘record’ quarter: PitchBook
European funds have already amassed more than half the capital raised in 2023, according to PitchBook’s Q1 2024 Global Private Equity First Look report
Innova acquires minority stake in Dimark Manufacture
The Polish GP invested via the Innova/7 fund
Equistone-backed Andra Tech Group bolts on Lucassen Group
The GP will support the firm’s expansion in the Netherlands
IVP banks $1.6bn for 18th VC fund
The vehicle is 12% smaller than its predecessor
INVL-backed Eco Baltia eyes Eko Osta acquisition
INVL’s Baltic Sea Growth Fund acquired a 52.8% stake in Eco Baltia in June 2020
Genesis Capital acquires minority stake in Kasper Kovo
The firm invested through Genesis Private Equity Fund IV
Genesis Capital acquires Czech metal manufacturer
GAF has more than doubled its turnover in the last four years
Private equity’s exit logjam hits $3.2trn
GPs are sitting on a record 28,000 unsold companies, According to Bain & Co’s annual global PE report
H.I.G. exits ICG Group
The communications business has been sold to a trade buyer
Equistone-backed Buko bolts on Road Traffic Solutions
The GP will support the firm’s expansion in the UK and neighbouring countries
Genesis Capital acquires Schulte Group
The deal was made via the GP’s Genesis Private Equity Fund IV
Cinven invests in Alter Domus
GP to acquire half of the founders’ and Permira’s stakes in the fund admin; aims to grow company in key markets and customer verticals
Exclusive: Quilvest acquires Acuiti Labs
Thomas Vatier, partner and co-head of buyout, tells Real Deals that the investor plans on leveraging its transatlantic expertise to grow the business
Hamilton Lane closes eighth credit fund on $700m
The fund’s predecessor closed on more than $950m in September 2022
Exclusive: Unigestion closes Emerging Manager Choice II Fund
In parallel, the fund has also notched its first exit
Innova-backed Bielenda bolts on Miya Cosmetics
Bielenda will cross-sell Miya products via its distribution channels
Accession Capital Partners backs SMYK MBO
The business was acquired from Bridgepoint
Nordic Capital-backed Conscia acquires ITGL
The deal marks the 17th acquisition by the business in the last decade
Pride Capital Partners-backed GBC Group bolts on Bolde
The GP first invested in GBC Group in February 2022
BaltCap sells Karell Kiirabi
The original transaction in 2019 marked BaltCap’s maiden investment in Estonia
Maguar Capital-backed HRworks bolts on Bonrepublic
The GP first invested a majority stake in the business in 2020
Vendis Capital-backed Silver Care bolts on Well-Fair
The deal represents the second acquisition for Silver Care
Innova Capital picks up minority stake in CloudFerro
The GP backed the business through its Innova/7 fund
Bregal Milestone-backed Anywhere365 bolts on Deepdesk
The business plans to open new offices overseas
Bregal-backed Italgel Group bolts on Protein
It is the first acquisition by Italgel since Bregal first invested in 2022
Deal in Focus: Enterprise Investors raises a glass to JNT Group sale
EI’s value creation thesis allowed to reposition the company and shift its perception, which resulted in scaling JNT’s market share from single digits to almost 20% in volume terms, partner Sebastian Król tells Real Deals
TEP Capital invests in process outsourcing specialist
Profit4You represents the fourth investment by the Polish GP
Ufenau Capital-backed KSG bolts on Defluo and Maxicleaning
KSG has completed more than 20 bolt-on acquisitions since the GP’s investment in 2017
CEE Report 2024: Forging a partnership
Max Cancre, director at TA Associates, and Filip Berkowski, investment partner at MCI Capital, speak to Real Deals about how their collaboration has yielded success
CEE Report 2024: Building champions
Real Deals speaks to MidEuropa’s operating partner Alain Beyens about how the Central Europe private equity firm taps into its local expertise to create international success
Mérieux Equity Partners acquires InnoSyn
The deal represents the ninth transaction by MP4 and its first in the Netherlands
BNP Paribas Asset Management launches second co-investment fund
The fund will be invested in various opportunities, such as co-investments, equity flexing and GP-led transactions
Kartesia-backed Vanreusel Family acquires Beltaste
Capital for the transaction was drawn from Kartesia’s Credit Opportunities strategy
CEE: Road to recovery
Deal activity in CEE reignited in 2023 as the instability from the previous years started to dissipate. But will the recovery continue this year? Shivani Khandekar investigates
Accent Equity sells Norco Interior to its own portco
The GP’s Götessons Design Group has bolted on the business
Pride Capital Partners-backed Link11 Group bolts on Reblaze Technologies
Since the GP invested, the business has completed two bolt-ons
Abris-backed Scanmed bolts on Polish healthcare firm
The deal represents the third acquisition since Abris first invested in the business
3TS Capital Partners holds final close of European tech fund on €111m
The GP received commitments from the EIF among others
Afinum invests in German software platform
The deal reinforces the GP’s strategic commitment to investing in tech firms within the DACH region
BDO appoints Jamie Austin as head of global private equity
Austin joined the Belgium-headquartered business advisory firm in 2008
Resource Partners backs Flex To Go
The GP believes there is strong demand for car rental services from “occasional” travellers
Exclusive: Arcano Partners eyes Q1 first close for second impact fund
The firms aims to secure commitments from its existing backers before expanding its outreach to international investors, Ricardo Miró-Quesada tells Real Deals
Capza-backed Wifirst acquires Hotsplots
The acquisition further strengthens Wifirst’s presence across Europe
Kennet Partners sells Eloomi
The deal will generate a return of more than three times the GP’s investment
Keensight Capital-backed Sogelink bolts on Geopixel
The bolt-on will help to strengthen Sogelink’s European product offering
Main Capital-backed JobRouter bolts on Sycat Group
The combined firm could achieve revenues of about €20m this year
Battery Ventures expands in the Netherlands
The GP’s investment is in the ‘the triple-digit millions’
Committed Advisors reaps €2.6bn for fifth secondary fund
The vehicle is 65% larger than its predecessor fund
Avallon exits Wosana to Japanese holding company
The Polish PE firm wholly acquired Wosana in 2017
Solter Capital and Posella sell European insurance broker
The GPs supported MJM Holdings growth via M&A
ISAI Expansion III holds first close on €190m
Caisse Des Dépôts, EIF and BNP Paribas Developpement among the LPs that supported the fund
Gilde Healthcare exits biotech firm
The GP has sold Calypso Biotech to Novartis
End of Year Review: Krzysztof Kulig, Innova Capital
Krzysztof Kulig, senior partner at Innova Capital, discusses latest fund Innova/7, benefits of nearshoring for Poland, and PE’s growing role in managing its investments
PAI Partners exits diagnostics manufacturer
ELITech was sold to Bunker Corporations
Egeria exits sustainable packaging solutions firm
Wentus has been sold in a trade deal to Trioworld Group
Ara Partners closes third vintage on $2.8bn
The oversubscribed private equity fund closed on its hard-cap
Abris offloads hygiene product manufacturer to Partners Group
The business was acquired in 2018 from Polish private equity fund Avallon
MCI Group acquires majority stake in Focus Telecom
The GP had previously held a 15% stake in the firm
Genesis Capital exits majority stake in Sanborn
During the GP’s hold period, the firm doubled its turnover and Ebitda
Bencis Capital sells its stake in Kooi
The majority stake has been sold to IK Partners and the company’s management
Innova Capital-backed EMI bolts on Kadra
This is the second bolt-on by the GP this week
Innova-backed Bielenda acquires Torf from Resource Partners
The bolt-on will also enable the company to enter the oral hygiene segment
INVL wholly acquires Galinta Group
The deal is the ninth portfolio investment for its INVL Baltic Sea Growth Fund
Jet Investment acquires 70% of Likov
It marks the first completed transaction from the investor’s Jet 3 fund
bValue acquires cloud migration provider Hostersi
The VC plans to support the firm’s current expansion plans
Abris-backed Scanmed bolts on Med-Lux
The Poland-based GP acquired Scanmed in 2020
Enterprise Investors exits FinGo
Founder Lukáš Novák will become 100% shareholder
Genesis Capital acquires STT Servis
The GP will support the firm’s expansion and client roster
Mutares exits Plati Elettroforniture to Accursia Capital
The sale represents the GP’s seventh exit in 2023
Adams Street closes 2023 global fund program on $820m
The recent fund fell short of its predecessor by 25%
Deal in Focus: MidEuropa clinches c.2.5x return on Profi trade sale
The GP grew the business via a mix of bolt-ons and organic growth, Aleksandar Dragicevic tells Real Deals
Tikehau holds first close of €200m cybersecurity vehicle
Brienne IV has already surpassed its predecessor, which raised €175m
Genesis Capital backs audiovisual and event business
The firm invested in AV Media Group through its Fund IV
Jolt Capital bags additional €100m for fourth fund
The extension follows the vehicle’s reopening in early 2023
Warburg Pincus closes latest flagship fund on $17.3bn
The GP has been on the road since 2021
Genesis Capital invests in animation company
Prague-based PFX offers visual effects, animation, advertising campaigns and post-production services
Warburg Pincus backs Nord Security in $100m financing round
The GP led the round, investing through its Capital Solutions Founders fund
Horizon Capital raises c.$300m
The fund will back “visionary” entrepreneurs in Ukraine and Moldova
SET Ventures raises €200m for fourth fund
The Amsterdam-based VC looks is eyeing investments in technology companies that are shaping a carbon-free energy system
Dawn Capital raises $700m through two funds
Together, the funds will help the PE firm to back companies from series A all the way to exit
Keensight banks €2.8bn to invest in European tech and healthcare
The GP will seek growth buyouts in companies generating revenues of €10-400m
Fund in Focus: INVL kicks off fundraising for new PE vehicle
Executive partner Deimante Korsakaite tells Real Deals that the GP is aiming for a first close in Q1 2024
TA and MCI Partners portco merges with Bauer Media Group
Netrisk Group’s online comparison business will be integrated with Bauer’s across six CEE countries
Multi-family office Stonehage Fleming raises $130m
Stonehage Fleming Global Private Capital Fund has held its final close
INVL portfolio company sweeps up Polish PVC recycler
Established in 1993, Metal-Plast is known for waste collection, grinding services and the production of high-quality PVC regranulate
ACP bags Vemo
Accession Capital Partners teamed up with Slovenia-based Alfi to purchase the Croatian paper bag producer
Accession Capital Partners inks maiden investment from new fund
The CEE-focused private equity firm has invested in Medicales, a Romanian platform for radiodiagnostics and medical imaging services
Enterprise Investors picks up minority stake in Advanced Protection Systems
The GP said the portfolio company is poised to execute an international expansion strategy
Shift from senior debt to junior debt solutions on the horizon
Park Square Capital’s Axel Wehtje discusses how debt financing solutions are accommodating for these strategies
QIC partners with PenSam
The DKK2.2bn mandate from Danish pension fund PenSam expands Queensland Investment Corporation’s exposure to European PE
Waterland backs CodiLime
Transaction marks the GP’s third investment in the Polish technology sector