Who we are

Enterprise Investors is the oldest and one of the largest private equity firms in Central and Eastern Europe. We specialize in mid-market succession-driven buyout transactions and provision of expansion financing to high-growth enterprises across a range of sectors. Active since 1990, we have raised nine funds with total capital exceeding EUR 2.5 billion. These funds have invested EUR 1.8 billion in 142 companies.

 

We pursue a diversified approach to the industries we invest in. Since 2017 we have been investing the capital of Polish Enterprise Fund VIII. This fund, like its predecessors, finances mid-market buyouts and growth companies in sectors driven by the convergence of CEE’s domestic consumption with the “old” EU, such as consumer products and retail, financial services, and healthcare. PEF VIII also invests in sectors driven by CEE’s growing internationalization and competitive cost position, including IT, industrial products, and business process outsourcing. Poland accounts for approximately two-thirds of all the investments made by the firm, with the remainder invested across the growing economies of the “new” EU.

 

Enterprise Investors has exited 128 companies with total gross proceeds of EUR 3.7 billion. This number includes 35 IPOs of portfolio companies completed on the stock exchanges in Warsaw (WSE), Prague (PSE), Vilnius (Nasdaq) and New York (NYSE).

 

We specialize in proprietary deal sourcing. Our team of close to 40 investment professionals – the most experienced in the region – provides a unique combination of skills and expertise, and has a track record of consistent performance. The firm operates through six offices located in Warsaw, Bratislava, Bucharest, Budapest, Prague and New York.

How we operate

At Enterprise Investors we combine industry expertise with local market experience. Central to our approach is an emphasis on creating sustainable value that will withstand the test of time. We are prudent in our investment strategies and use leverage conservatively. We invest between EUR 20 million and EUR 75 million in established companies. Our stake ranges from a large minority position to full ownership and we take a long-term perspective, our involvement typically lasting between five and eight years.

 

We commit our full range of resources to the success of each portfolio company. Partnering with management teams, we help companies formulate strategy, conceptualize and implement optimal financing structures and recruit top executive talent. Our investment team builds direct relationships with portfolio companies and provides hands-on support via supervisory board positions. We bring about lasting change, preparing companies for success even beyond our investment horizon.

 

We follow a policy never to invest in enterprises engaged in activities that are harmful or detrimental to the local and global society, environment or economy. But our commitment to responsible investing extends significantly beyond this formal limitation. In particular, we continue to develop environmental, social and governance awareness (ESG) within the investment team and across our portfolio companies, embedding internal processes to support fulfillment of this goal. For us, ESG is a crucial factor influencing decisions at all stages of the investment process. We aspire to make a positive impact on the environment, society and individuals that EI and its portfolio companies interact with or influence.

History

May 1990

Foundation of Polish-American Enterprise Fund

February 1991

Polish-American Enterprise Fund’s first investment in Poland

October 1992

EI raises Polish Private Equity Funds I & II with total capital of USD 151 million

November 1994

First IPO of a company from EI’s portfolio on the WSE

PPABank
April 1997

EI raises Polish Enterprise Fund with USD 164 million in capital

December 1999

EI’s first investment outside Poland

Orange Romania
October 2000

EI raises Polish Enterprise Fund IV with USD 217 million in capital

July 2001

First investment in Slovakia

Orange Slovakia
February 2004

First investment in Bulgaria

Bulgarian Telecommunications Company
May 2004

EI raises Polish Enterprise Fund V with capital of EUR 300 million

October 2004

EI opens an office in Bucharest

September 2005

First investment in the Czech Republic

AVG Technologies
September 2006

EI raises Polish Enterprise Fund VI with capital of
EUR 658 million

January 2007

EI opens an office in Bratislava

November 2007

First investment in Lithuania

Novaturas
September 2008

EI raises Enterprise Venture Fund I with total capital of EUR 100 million

September 2009

EI opens an office in Prague

July 2010

First investment in Hungary

Netrisk.hu
September 2010

First investment in Estonia

Nortal
June 2011

EI opens an office in Budapest

February 2012

First IPO on the NYSE of a company from EI’s portfolio

AVG Technologies
May 2012

EI raises Polish Enterprise Fund VII with capital of EUR 314 million

December 2015

First IPO on the Prague Stock Exchange of a company from EI’s portfolio

Kofola ČeskoSlovensko
September 2016

First investment in Slovenia

Intersport ISI
September 2017

EI raises Polish Enterprise Fund VIII with total capital of EUR 498 million

March 2018

Thirty-fifth IPO from EI’s portfolio and the first on Nasdaq Vilnius

Novaturas
May 2018

First investment in Croatia

PAN-PEK