EIF IX attracted significant interest from commercial investors, who accounted for over 60% of total commitments. For the first time in the firm’s 35-year history, they included Polish institutional and private investors, reflecting growing domestic confidence in the private equity asset class. The remaining commitments came from development finance partners, the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC).

“Securing commitments from a diversified base of investors, particularly under the current turbulent global circumstances, is a strong endorsement of our track record and the quality of our team,” said Jacek Siwicki, president of Enterprise Investors. “We view the participation of Polish investors as a strong vote of confidence in our strategy, and the private equity asset class in this region.”

EIF IX builds on Enterprise Investors’ long-standing strategy of backing market leaders with strong growth potential in Poland and across the broader CEE region. The fund targets fast-growing sectors including technology, financial services, consumer products, business services, healthcare, retail, and manufacturing, all of which benefit from the convergence of CEE’s dynamic domestic markets with Western European demand and from the region’s increasing global integration. Since its first closing, EIF IX has completed six investments: APS (anti-drone systems and radar technology), eTravel (corporate travel management), Expobud (modular housing construction), Scan Lab (digital dental services), Sescom (technical facility management), and Unity Care (outpatient healthcare services). Several of these companies are already entering new markets in both Central and Western Europe through their acquisition-driven expansion strategies. 

Enterprise Investors is the most experienced private equity player in Central and Eastern Europe. Active since 1990, the firm has raised ten funds, which have invested and committed EUR 2.4 billion in 160 companies and exited 140 companies. EI’s team of 31 investment professionals brings together extensive regional expertise and a consistent performance track record across market cycles.

For further information please contact:

Anna Czywczyńska, Communications & Public Affairs Director 

tel.: +48 22 458 8500

www.ei.com.pl

The investment marks a strategic partnership between Enterprise Investors and eTravel’s founder and CEO, Andrzej Wierzba. It involves the buyout of passive shareholders and a collaborative effort in driving the company’s growth, supporting its geographical expansion and boosting its market position and range of services. Established in 2006, eTravel is a leader in business travel management across the CEE region. The company operates a state-of-the-art proprietary self-booking platform, Corporate Travel Assistant, which improves efficiency and convenience for its end users, thus reducing costs. This solution features a vast array of functionalities, provides access to a broad database of hotels and travel tickets and offers seamless integration with its clients’ travel and accounting policies. In 2023, eTravel facilitated nearly one million bookings, including 300,000 flights and as many hotel reservations, serving prominent public institutions such as UNICEF, Organization for Security and Co-operation in Europe, National Bank of Poland and dozens of other corporate clients.

“The business travel management sector is undergoing rapid transformation, driven by the growing demand for outsourcing and digital solutions. This creates significant opportunities for companies like eTravel, whose advanced end-to-end platform increases operational efficiency through its direct integration with suppliers. Enterprise Investors is committed to helping eTravel consolidate its leadership in the Polish market while selectively expanding into promising CEE geographies to establish a leading platform in the region,” said Jakub Kuberski, a partner at Enterprise Investors.

An Enterprise Investors managing partner, Dariusz Prończuk, expressed confidence in the company’s potential: “We are impressed by eTravel’s strong market position and its ability to innovate in a dynamic and evolving industry. This partnership aligns with our strategy of supporting companies that combine technological leadership with growth ambitions. Moreover, we see great potential in creating a regional platform that can unlock value through synergies across the entire CEE market.”

Andrzej Wierzba, eTravel’s CEO, emphasized the strategic importance of this collaboration: “Joining forces with Enterprise Investors will speed up our international expansion and strengthen our competitive edge through continued investment in our operational capabilities and technology. Together, we can achieve our vision of becoming the foremost business travel management platform in the CEE region and a top 10 European player.”

This transaction underscores Enterprise Investors’ commitment to investing in sectors poised for digital transformation and efficiency-driven growth. With a robust technological foundation and a clear roadmap for expansion, eTravel is well-positioned to lead market consolidation in the region while creating significant value for its stakeholders.

Enterprise Investors is one of the largest private equity players in Central and Eastern Europe. Active since 1990, the firm has raised ten funds, which have invested and committed EUR 2.3 billion in 160 companies and exited 140 companies.

For further information please contact:
Anna Czywczyńska, Communications & Public Affairs Director
tel.: +48 22 458 8500
www.ei.com.pl

Since 2011, Expobud has specialized in providing individual clients with prefabricated single-family houses built of lightweight concrete based on expanded clay aggregate. This innovative material ensures excellent insulation and durability, making Expobud houses an attractive choice for customers seeking high-quality, energy-efficient solutions delivered reliably, quickly and seamlessly. The company offers a wide range of customizable designs, and it is this flexibility, coupled with a focus on quality, that has helped Expobud become the second-largest player in Poland’s prefabricated housing market and a leader in lightweight concrete technology.

This year the company will construct 140 single-family houses and expects to generate revenues exceeding EUR 14 million. With the fund’s support, it plans dynamic sales growth through market expansion and product development.

“Expobud has established a strong position in the local prefabricated housing market. We are impressed by its efficient business model and ability to respond to rapidly changing customer needs. Our investment will support the company’s growth across Poland,” said Sebastian Król, a partner at Enterprise Investors. He added, “Expobud is our second investment in the prefabricated housing sector after Danwood, a market leader in Germany that we owned for nearly five years. We intend to fully leverage our experience from that project.”

“The partnership with Enterprise Investors marks a milestone for Expobud,” said Michał Puciński, the company’s co-founder and board member. “They have extensive experience in fostering the growth of businesses and understand the needs of entrepreneurs. With EI’s support, we aim to strengthen our position in the Polish market, accelerate our growth and seize new opportunities. Together, we will continue delivering top-quality houses to our customers while expanding our product range and reach.”

Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. Active since 1990, the firm has raised ten funds, which have invested and committed EUR 2.3 billion in 159 companies and exited 140 companies. 

For further information please contact:

Anna Czywczyńska, Communications & Public Affairs Director 

tel.: +48 22 458 8500

www.ei.com.pl

The project begins with the acquisition of NZOZ Śródmieście-Biały Kamień, a local clinic in Wałbrzych, western Poland, which offers primary care and specialized consultations to the local community at two locations. Similar acquisitions are being negotiated in a number of other towns and cities and will materialize early next year. The acquired clinics will continue providing care to their patients, while gradually extending the range of services as well as investing in modern infrastructure, IT tools and patient outcomes.

Enterprise Investors’ solid track record of investments in the healthcare sector is highlighted by the successful development of Nu-Med Grupa, which grew from a single radiotherapy center into a leading provider of cancer care in four locations and was sold to Affidea earlier this year. Recently Enterprise Investors invested in Scan Lab, Poland’s largest digital dental prosthetics laboratory. These examples reflect the firm’s expertise in driving innovation, quality and value creation in healthcare investments.

Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. Active since 1990, the firm has raised ten funds, which have invested and committed EUR 2.3 billion in 158 companies and exited 140 companies.

For further information please contact:
Anna Czywczyńska, Communications & Public Affairs Director
tel.: +48 22 458 8500
www.ei.com.pl

Scan Lab is an innovative Polish company specializing in digital solutions for dental prosthetics and orthodontics. Since its establishment in 2017, the laboratory has offered dentists and orthodontists fully digital technology for fabricating prosthetic restorations such as crowns and veneers as well as orthodontic aligners. These solutions cover every stage of treatment, from diagnostics and analysis to design and production of custom-fitted products.

What caught the attention of Enterprise Investors is the uniqueness and high quality of Scan Lab’s solutions. The company’s business model, based on digital technologies and excellent logistics, represents a significant barrier to market entry and makes it difficult to replicate. This is reflected in the strong financial results and high growth dynamics – in 2024 Scan Lab plans to reach EUR 12 million in revenue. 

Enterprise Investors partner Michał Kędzia, who is responsible for the investment in Scan Lab, commented: “This transaction marks another foray by EI into the healthcare sector. Encouraged by previous successes, we decided to invest in this key sector of the economy once again”. He added: “The foundations for the dynamic development of modern prosthetics and orthodontics are extremely strong, bolstered by growing patient awareness regarding health and aesthetics. We believe that Scan Lab, under the leadership of its CEO and our new partner Damian Waliłko, will significantly improve quality of life for many patients in Poland and abroad”. 

Our goal is to support dentists and dental clinic owners in the adoption of modern digital prosthetics technology,” said Damian Waliłko, adding: “At the core of this process is the use of 3D scanners, which have transformed prosthetics and orthodontics in recent years. Full digitalization of the workflow provides unprecedented comfort for patients and gives both the clinician and the laboratory complete control over creating custom restorations. Ultimately, the most important factor is the quality of the final product, be it a prosthesis, crown, veneer or set of orthodontic aligners. Thanks to digitalization and the scale of our operations we can tailor our solutions to the specific needs of each dentist, which allows us to create many beautiful new smiles more expeditiously.”

Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. Active since 1990, the firm has raised ten funds, which have invested and committed EUR 2.3 billion in 157 companies and exited 140 companies. 

For further information please contact:

Anna Czywczyńska, Communications & Public Affairs Director 

tel.: +48 22 458 8500

www.ei.com.pl

Nu-Med’s journey with EI began in 2013 when PEF VII acquired a significant minority stake in the company, which then operated a single radiotherapy center in Elbląg, northern Poland. In the previous year EI made its first investment in radiotherapy in Katowice, southern Poland. The two radiotherapy centers subsequently merged under the Nu-Med banner and two more treatment centers were opened: one in Tomaszów Mazowiecki, located in the center of the country, and the other in Zamość, situated in eastern Poland.

Over the past decade, Nu-Med has maintained its commitment to high-quality treatment and patient care. The company’s strong position among healthcare providers is reflected in its solid financial standing, with 2023 revenues reported at the level of more than EUR 60 million.

Michał Rusiecki, EI’s managing partner responsible for the investment, said: “This exit represents a significant milestone both in Nu-Med’s growth and in EI’s investment strategy in the healthcare sector, underscoring the firm’s commitment to creating value in this critical sector. We are extremely proud that during our investment period we provided critical care to almost 70,000 patients.” He added: “From a single radiotherapy center, we’ve grown Nu-Med into a leading provider of cancer care. The sale to Affidea ensures that Nu-Med will continue providing high-quality, comprehensive cancer care to patients across Poland as part of a premier international organization.”

Mesut Göral, CEO of Affidea Poland, Senior Vice President and COO for Affidea Group, commented on the acquisition: “Cancer remains a leading threat in our communities, being the second most common cause of death in Poland with around 170,000 new cases and 100,000 deaths annually, according to WHO. This acquisition highlights Affidea’s commitment to supporting the National Oncology Strategy, ensuring better access to top-quality services for cancer prevention, early diagnosis, and treatment, in a comprehensive and integrated manner. Nu-Med’s renowned radiotherapy centre, led by their Senior Leadership Team and highly qualified clinical and non-clinical colleagues, perfectly complements Affidea’s operations and culture. We look forward to working together, after the closing, in our common mission of fighting against cancer.”

Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. Active since 1990, the firm has raised ten funds, which have invested and committed EUR 2.3 billion in 156 companies and exited 140 companies.

Affidea Group is the pan-European diagnostic imaging and community-based polyclinic and specialist healthcare services provider, including cancer care. Founded in 1991, the company operates 366 centres across 15 countries, providing high-quality medical services to nearly 14 million patients every year. Affidea is majority-owned by Groupe Bruxelles Lambert (GBL), a leading investment holding company, focused on long-term value-creation with a stable and supportive family shareholder base.

For further information please contact:

Anna Czywczyńska, Communications & Public Affairs Director tel.: +48 22 458 8500

www.ei.com.pl

Sescom was founded in 2008 by Sławomir Halbryt, who has played a key part in its success to date – from winning the first client through to formulating a clear business plan based on technological solutions and specialization in the retail sector. The company leads in Poland’s facility management market, is considerably strengthening its position in Germany and Austria, and – since acquiring a British competitor in 2023 – is expanding dynamically also in the UK. 

Sescom’s high service quality is rooted in its effective management, professional know-how and successful integration of experience and technology. Thanks to this, its client portfolio contains close to 100 recognized brands and its technical teams serve more than 40,000 stores across Europe. Management’s effectiveness is borne out by the sound financial results Sescom achieved in the last fiscal year, when its revenues reached EUR 54 million.

“What drew our attention to Sescom was its attractive market requiring a combination of superior technical expertise with experience and mobility. We are highly impressed by the systematic growth of Sescom’s customer base, made up of companies that are European leaders in their respective segments and that demand the highest standards of service. All this, combined with the successful UK acquisition, allows us to plan the company’s further dynamic expansion,” said Sebastian Król, Enterprise Investors partner responsible for this investment. He added: “Operational effectiveness is one of the key factors we look at when choosing our business partners. We believe Sławomir Halbryt and his team have built a very effective business model that is proving itself both at home and internationally.”

The company’s founder and CEO Sławomir Halbryt commented: “One of our priorities is to skillfully combine the advantages of a large international player with the elasticity and agility of a small company. This approach enables us to maintain a fresh outlook and flexibility in building our offer while taking advantage of opportunities that present themselves in the market. Both we and the Enterprise Investors team assume that Sescom’s organic development will lead to rapid value growth and that further market consolidation will accelerate this process.”   

Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. Active since 1990, the firm has raised ten funds. These funds have invested and committed EUR 2.3 billion in 156 companies and exited 139 companies.

For further information please contact:

Anna Czywczyńska, Communications & Public Affairs Director 

tel.: +48 22 458 8500

www.ei.com.pl

PEF VII acquired JNT (then Jantoń) from the founding family in 2017. Jakub Nowak had headed the company from the outset, having been with the firm for over 20 years, since the beginning of his professional career. Together with the EI team, he drew up a plan for JNT’s dynamic growth. The company has grown consistently since the change in ownership and gained more of the Polish wine market than its competitors. Today, its market share is estimated at close to 20%.

JNT achieved this position by investing in its production capacities and marketing, as well as through the acquisition of brands such as Grzaniec Galicyjski, Wino Makłowicz, Selekcja Makłowicz and Platinum Wines. The company also launched its international expansion last summer, when its products appeared in retail chains in Romania. In December JNT took over a local Romanian competitor, thus accelerating the growth through acquisitions.

EI partner Sebastian Król, who is responsible for the investment, summarized the transaction as follows: “I am pleased that JNT remains in the hands of such a capable manager as Jakub Nowak. His market expertise is unparalleled, and he knows the company inside out. Jakub has been instrumental in securing JNT‘s success to date. He is also best placed to build the company’s value going forward.”

“Our collaboration with Enterprise Investors over the last six years has been very fruitful and has taught us a lot. During this time we not only grew significantly, becoming Poland’s largest wine producer and distributor, but we also professionalized the team, substantially increased production capabilities, optimized the product portfolio and successfully completed domestic as well as foreign acquisitions. Our ambitious plan for the next stage of development is for JNT to become the largest group in Poland and to build a strong presence in many international markets,” commented Jakub Nowak, CEO.

Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. Active since 1990, the firm has raised ten funds. These funds have invested and committed EUR 2.3 billion in 155 companies and exited 139 companies.

For further information please contact:
Anna Czywczyńska, Communications & Public Affairs Director
tel.: +48 22 458 8500
www.ei.com.pl

FinGO is a financial services intermediary with a multi-channel distribution platform. The company sells mortgages and life insurance primarily, but also investments, pension savings and non-life insurance. It was founded in Slovakia in 2017 by Lukáš Novák, who remained a majority shareholder following PEF VIII’s entry in 2021. At EI’s exit he will buy out the fund’s entire stake, thereby becoming FinGO’s 100% owner. Mr. Novák remains committed to the company’s long-term development and plans to continue its expansion in the Slovak and Czech markets. 

“We are happy we could contribute to FinGO’s development. Our decision to sell our stake in the business to the founder is rooted in the inflationary market dynamics, which have affected the company’s expansion plans in the given timescale,” said EI managing partner Dariusz Prończuk, who leads this investment. 

“While FinGO is well positioned to address the growing needs of customers looking to compare complex and high-value financial products online, under the current market conditions it is more suited to a long-term investor such as Lukáš Novák is. Given the four to six years we have for realizing our required return, coupled with the increasing interest rates and accompanying strong decline of the mortgage market, we concluded our original goal might only be met within a longer investment horizon,” said Martin Chocholáček, a vice president at Enterprise Investors, who is responsible for the firm’s activity in Slovakia. “Despite the challenging times of declining demand for mortgage products, the founder and the management team are well equipped to navigate the company to further growth through diversification and tapping into new business opportunities that lie ahead of FinGO.“ he added.

“This acquisition confirms my commitment to further developing FinGO into Slovakia’s market leader and the fastest-growing player in Czechia. I am convinced that together with the management team we can continue executing our strategic plan of expanding the business, both by developing the agent network as well as online, to give our customers the best seamless service and product offering and increase share of wallet through smart x-sell strategies. We thank EI and its professionals for their contribution to establishing and expanding FinGO in the Czech market,” said Lukáš Novák, the company’s founder and CEO.

Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. Active since 1990, the firm has raised ten funds. These funds have invested and committed EUR 2.2 billion in 155 companies and exited 138 companies.

For further information please contact:

Anna Czywczyńska, Communications & Public Affairs Director

tel.: +48 22 458 8500

www.ei.com.pl 

Advanced Protection Systems (APS) is a pioneering technology company founded by Dr. Maciej Klemm, CEO of the company, and Dr. Radosław Piesiewicz, COO, after successful academic careers. Having commenced the project in 2015 with a focus on radar technology development and production together with dedicated software, over the years APS has become a fully fledged solution provider catering to the growing demand for drone detection systems. The company’s proprietary radar technology offers unparalleled advantages over its competitors: it allows for faster high-precision detection and classification of multiple low, slow, and small (LSS) flying objects at lower altitudes.

The key to APS’s remarkable growth over the past years lies in its ability to provide a state-of-the-art radar system, complemented by intuitive and customizable software. The company’s hardware based on a modular architecture adds to its adaptability and suitability for both commercial and military customers.

“APS has garnered a strong track record, building on past successes and unique features of its solutions. We believe that in the years to come the company is poised to execute a very ambitious international expansion strategy,” said Michał Kędzia, a partner at Enterprise Investors who is responsible for the investment, adding “APS is run by very entrepreneurial founders who are responsible for its rapid growth to date. We do look forward to partnering with them. I am convinced that EI’s vast experience in optimizing corporate structure, conceptualizing and implementing most favorable financing, as well as recruiting top executive talent will result in very fruitful” and lucrative collaboration”. 

“With the support of Enterprise Investors, we plan to sustain dynamic growth and accelerate the development of our technological, manufacturing, and organizational capabilities. At the core of our business activity lies product quality and customer satisfaction, which are our top priorities. We are happy to have found a partner that shares our vision, supports our goals and believes in our potential,” said Dr. Maciej Klemm, co-founder and CEO of APS.    

Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. Active since 1990, the firm has raised ten funds. These funds have invested and committed EUR 2.2 billion in 155 companies and exited 137 companies.

For further information please contact:

Anna Czywczyńska, Communications & Public Affairs Director 

tel.: +48 22 458 8500

www.ei.com.pl