Snap Outdoor is a distributor of mountain sports equipment and runs 8a.pl, the undisputed leader among specialty online retailers. 8a.pl trades apparel, footwear and accessories for outdoor activities and mountain sports such as climbing and ski touring. The company has two brick and mortar stores (in Warsaw and Gliwice, southern Poland), with a third location (in Katowice, southern Poland) due to open shortly. Snap Outdor was founded in 2001 in Gliwice, where its headquarters and logistics center are still located.

The company operates in a very promising market niche that is fueled by healthy lifestyle trends, the increasing popularity of outdoor sports (including mountain sports) and the rising disposable income of Poles. The outdoor sector is expected to continue its dynamic growth in the coming years.

8a.pl stands out from its competitors with its well curated assortment built around tourism and mountain sports. The company strategy is to offer only masstige and premium brands, which are otherwise not widely available. It also has the largest product availability among outdoor equipment specialists in Poland. Strong financial results confirm Snap Outdoor’s leading market position – revenues topped EUR 16 million in 2020, while this year they are expected to exceed EUR 23 million.

“We are convinced that Snap Outdoor’s business model can be successfully replicated in other CEE markets, which in most cases lack a clear market leader in outdoor e-tailing. Thanks to its broad experience in the specialized online retail sector and excellent logistics, the company can become a consolidation platform for other niche e-commerce segments,” said Enterprise Investors Partner Michał Kedzia, who is responsible for the firm’s investments in the retail sector, including Intersport ISI and Snap Outdoor.

“The greatest advantage of our online business is the broad base of returning customers, most of whom are passionate about mountain sports. With every product on the market being just one click away, this proves our strategy and focus on high quality have been key contributors to our success. We plan to make our offer available to mountain lovers from other countries of the region. Our goal is to become the favorite brand for outdoor enthusiasts in Central and Eastern Europe,” emphasized Piotr Czmoch, cofounder of Snap Outdoor.

Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. Active since 1990, the firm has raised nine funds with total capital exceeding EUR 2.5 billion. These funds have invested EUR 2 billion in 148 companies across a range of sectors and exited 135 companies with total gross proceeds of EUR 4.2 billion.

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

Modular System is the undisputed market leader in the production of multi-function turnkey containers and modular systems based on the steel frame technology – the winning solution for temporary non-residential structures (e.g. office buildings, portable staff facilities, military containers). In contrast to traditional construction methods, this technology enables swift, flexible deployment at a fixed cost. It also allows for a high degree of prefabrication.

Modular System’s products are reliable, have a wide range of applications and represent good value for money. As a result, the company is developing dynamically and enlarging its geographical footprint in response to the needs of new market niches. Since 2020 Modular System has reaped the benefits of having a well-equipped and highly efficient new production plant in central Poland. The company’s strong market position is reflected by its excellent financial results. Revenues reached EUR 30 million last year, while in 2021 the company plans to almost double that figure.

“Paweł Brudnicki and Mariusz Brudnicki, the company’s founders, are directly responsible for Modular System’s spectacular success. We are convinced that their entrepreneurial approach, extensive sector knowledge and broad experience will allow us to jointly make the best use of the favorable trends in the construction industry and the advantageous macroeconomic conditions,” said EI partner Michał Kędzia, who is responsible for this transaction. “We expect container and modular technologies to increase in popularity in the years to come, translating into a strong demand for this type of construction. We believe Modular System will not only strengthen its leading position in Poland but will become a regional champion,” he added.

“We are proud that our company has attracted a strong PE investor. Thanks to EI’s backing we now plan to grow at an even faster pace, both by entering new markets and by expanding our offering in those sectors and geographies in which we are already present,” said Paweł Brudnicki, CEO of Modular System.

“Enterprise Investors’ strong track record in the construction industry, including the prefabrication segment, was an important factor in our decision-making process. Together, we plan to replicate this success in the utility containers and modular systems sector,” added Mariusz Brudnicki, a vice president at Modular System, who is responsible for sales and business development.

Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. Active since 1990, the firm has raised nine funds with total capital exceeding EUR 2.5 billion. These funds have invested EUR 2 billion in 147 companies across a range of sectors and exited 135 companies with total gross proceeds of EUR 4.2 billion.

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

Building on experience gained during its investment in Polish Energy Partners (PEP), now Polenergia, in 2012 Enterprise Investors made another investment in the renewable energy sector when it founded Wento. EI invited a group of experienced managers to run the project, including Wojciech Cetnarski, PEP’s founder and former CEO. Initially Wento focused on wind energy projects but in 2016 pivoted toward the solar energy market. In total, Wento has developed 177 MW of photovoltaic projects to the stage of securing contracts for difference in the auction framework mandated by the Polish government. With a secured pipeline in excess of 1,000 MW of further solar projects, the company is well equipped to meet Poland’s growing demand for renewable energy.

“Our investment in Wento has followed the changing fortunes of Poland’s renewable energy market. The management team led by Wojciech Cetnarski has shown it can adapt and persevere in its goal of building a company that contributes meaningfully to the green transformation of Poland’s energy sector while making good returns for its investors,” said Michał Rusiecki, a managing partner at Enterprise Investors, who is responsible for this transaction. “We are convinced that under the new ownership Wento will gain the resources needed to become an even more important contributor to the renewable energy market in Poland,” he added.

Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. Active since 1990, the firm has raised nine funds with total capital exceeding EUR 2.5 billion. These funds have invested EUR 2 billion in 146 companies across a range of sectors and exited 135 companies with total gross proceeds of EUR 4.2 billion.

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

PragmaGO operates in the non-banking financial market, offering customers such products as factoring and purchase financing and providing businesses with both working and investment capital. The company’s offer is tailored to the needs of small and medium-sized enterprises operating in Poland. By focusing its business model on automated online processes and distribution alliances with numerous partners, PragmaGO can offer customers a comprehensive range of solutions for improving their liquidity quickly and efficiently. After three quarters of 2020, PragmaGO held a portfolio worth EUR 21.2 million, had EUR 8.1 million of equity and EUR 0.4 million of net profit.

Dariusz Prończuk, the managing partner at Enterprise Investors responsible for this transaction, said: “Our aim is to delist the company from the Warsaw Stock Exchange. We believe that for PragmaGO to develop and make full use of the market’s potential it needs substantial capital injection, which we are willing to provide. In addition, we intend to support the company’s management with our broad experience from previous investments in the financial and technological sectors. All this can be achieved more efficiently and quickly once PragmaGO becomes a private company.”

To date, EI-managed funds invested EUR 322 million in 21 companies operating in the financial sector.

Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. Active since 1990, the firm has raised nine funds with total capital exceeding EUR 2.5 billion. These funds have invested EUR 2 billion in 145 companies across a range of sectors. The funds have exited 134 companies with total gross proceeds of EUR 4.1 billion.

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

Anwim was founded in 1992 by two entrepreneurs and initially it dealt solely with the wholesale of fuels. In 2009 the company launched retail operations under the MOYA brand and created an independent nationwide chain of petrol stations. Anwim is present in all Poland’s voivodeships, with outlets along the main transit routes and local roads as well as in towns and cities. In addition to petrol sales, the chain’s broad offer includes well-stocked mini stores, Caffe MOYA outlets selling food and coffee, car wash facilities and tailored services for business clients. MOYA leads the Polish market in terms of growth dynamics.

Enterprise Investors entered Anwim in 2018, when it had 180 petrol stations. Only in the first three quarters of this year the chain expanded by another 29 stations, and it is set to number c. 310 by the end of 2020. Last year, Anwim’s revenues amounted to EUR 900 million.

“We are very pleased that Mr. Witold Butkiewicz, Anwim’s founder, will remain a significant shareholder and chairman of the supervisory board. The last two years are irrefutable proof of how much can be achieved through harmonious cooperation between an entrepreneur and a private equity fund,” said Sebastian Król, the partner at Enterprise Investors responsible for this investment.

Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. Active since 1990, the firm has raised nine funds with total capital exceeding EUR 2.5 billion. These funds have invested EUR 2 billion in 144 companies across a range of sectors and exited 134 companies with total gross proceeds of EUR 4.1 billion.

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

PAN-PEK was established in 1992 and is one of the biggest producers of frozen bakery products in the Adriatic region. The company serves modern grocery retailers in Croatia and operates its own 65-store chain of bakery outlets, predominantly in the Zagreb area but with a growing presence in other cities and larger towns as well as along the Adriatic coast. PAN-PEK sells a variety of breads, baguettes and sandwiches through grocery retailers and its own chain. It has been continuously developing its range in the past two years so as to offer its customer base the best products. The main factory is in Zagreb, with a second smaller plant located in Dakovo, Eastern Croatia.

“We would like to thank Ivan Parać for our partnership over the last two years. Mr. Parać is a highly experienced and skilled entrepreneur and under his management PAN-PEK has continued to acquire new customers and add new outlets to its retail chain, thus leading the company to achieve a record level of EUR 36 million of sales in 2019. We will carry on his efforts to strengthen PAN-PEK’s leading position in the Adriatic region under the leadership of the current CEO, János Király,” said Enterprise Investors partner Michał Kędzia, who is responsible for the investment.

Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. Active since 1990, the firm has raised nine funds with total capital exceeding EUR 2.5 billion. These funds have invested EUR 2 billion in 144 companies across a range of sectors and exited 134 companies with total gross proceeds of EUR 4.1 billion.

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

Building on experience gained in the course of its investment in Polish Energy Partners (PEP), now Polenergia, in 2012 Enterprise Investors made its next investment in the renewable energy sector when it founded Wento. EI invited a group of experienced managers to run the project, including Wojciech Cetnarski, the founder and former CEO of PEP, who steered the new entity. Initially Wento acquired wind projects at an advanced stage of development, improved their parameters, built the wind farms and sold them to end buyers. In 2016 the company entered the solar energy segment, in which it develops projects from concept to going concern. To date, Wento has developed or constructed wind farms with a combined output of more than 80 MW, and photovoltaic projects generating close to 230 MW.

Skoczykłody is a modern and highly efficient wind farm that generates 36 MW. Thanks to the Wento team’s considerable experience, the facility was constructed on time and to budget in a mere 15 months. The farm became commercially operational in the fourth quarter of 2015.

“We are very pleased that by selling the Skoczykłody wind farm to PGE Group we are contributing to the green transformation of Poland’s energy sector,“ said Michał Rusiecki, a managing partner at Enterprise Investors, who is responsible for this investment. “We are one of Poland’s renewable energy pioneers, and our portfolio company Wento, which is currently developing projects with total capacity close to 700 MW, is among the top solar power companies in Poland,” he added.

Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. Active since 1990, the firm has raised nine funds with total capital exceeding EUR 2.5 billion. These funds have invested almost EUR 2 billion in 144 companies across a range of sectors and exited 134 companies with total gross proceeds of EUR 4.1 billion.

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

Novaturas was established in 1999 and soon became the most widely recognized tour operator in the Baltics. In 2007, Enterprise Investors acquired a 71% stake in the firm, investing in its further growth. The company’s first-rate reliability and reputation, together with the Baltic States’ good macroeconomic position and growing consumption, have helped Novaturas become the number one market player in the region. Today it is the leading tour operator in Lithuania, Latvia and Estonia, both in terms of sales value and passenger volumes. The company uses diverse and complementary distribution channels – it works with over 400 travel agencies, including all the major ones in the Baltics and more than 60 in Belarus. Novaturas also operates its own stores in Lithuania, Latvia and Estonia, and is developing an e-commerce channel. In 2019, the company reached EUR 179.9 million in revenues, with EBITDA of EUR 4.4 million.

Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. Active since 1990, the firm has raised nine funds with total capital exceeding EUR 2.5 billion. These funds have invested almost EUR 2 billion in 144 companies across a range of sectors and exited 134 companies with total gross proceeds of EUR 4.1 billion.

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

Danwood, headquartered in Białystok and with two production plants in Bielsk Podlaski, designs and builds ready-to-move-in houses for individual customers. In December 2013, EI acquired the company in a carve-out transaction from Budimex SA.
In the year of the investment Danwood delivered 685 houses, generating revenue of EUR 99 million. By the end of 2019, the company’s production capacity reached 2,000 houses and revenues exceeded EUR 274 million.

Between 2014 and 2019, Danwood invested over EUR 27 million in expanding its production capacities. The workforce more than doubled in this period, numbering more than 2,000 employees by the end of 2019. The company operates in five European countries, including Germany, where for the last four years it has been the top player in its market. With its comprehensive portfolio and value-for-money solutions Danwood is a one-stop shop for prospective homeowners looking to buy a turnkey house in the mid-range segment – the most attractive part of the market in terms of size and growth dynamics. Thanks to its best-in-class production facilities, construction site teams, engineering staff and architects, Danwood will continue to grow on the back of the prevailing market trends.

“It was a real pleasure to work with Danwood’s management team led by Jarosław Jurak” said Sebastian Król, the partner at EI responsible for this investment. “Together we have built a company that not only surpassed the market in terms of growth, but tripled production capacity, developed a unique and effective approach to sales and achieved operational excellence that will fuel this growth in years to come,” he added.

Commenting on the transaction, Jarosław Jurak, president and CEO of Danwood, said: “We strongly believe that under the new ownership Danwood has the potential to further strengthen its market position in Europe and reach for new markets outside the EU, becoming a global leader in the production of energy-efficient prefabricated houses.”

Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. Active since 1990, the firm has raised nine funds with total capital exceeding EUR 2.5 billion. These funds have invested almost EUR 2 billion in 144 companies across a range of sectors and exited 132 companies with total gross proceeds of EUR 3.9 billion.

GS Engineering & Construction is one of the largest construction companies in South Korea, listed on the Korea Stock Exchange (006360.KS). The company is a leader in the field of Architecture & Housing, Plant, Power, and Infrastructure. It has 24 overseas subsidiaries and branches.

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

3S is the owner and operator of a 3,800km-long, best-in-class fiber-optic network connected with a geographically diversified Tier 3 data center cluster. The company operates in a rapidly growing market segment, offering tailor-made telecommunication solutions that include internally developed cloud services to more than 2,800 B2B clients in Poland. It employs over 250 people. In 2015, EI acquired a 76% stake in the company for EUR 21 million. In 2018, 3S generated EUR 20 million in revenues.

“3S is ideally positioned to benefit from the growing demand for data services and the need for high-speed networks in Poland’s metropolitan areas. The company has a strong track record of servicing B2B clients, and its experienced management team is well equipped to drive the company’s growth under the new ownership. I am convinced that 3S will make a fine addition to P4’s offering,” said Rafał Bator, the partner at Enterprise Investors responsible for this investment.

Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. Active since 1990, the firm has raised nine funds with total capital exceeding EUR 2.5 billion. These funds have invested EUR 1.9 billion in 143 companies across a range of sectors and exited 130 companies with total gross proceeds of EUR 3.8 billion.

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