Tahe Outdoors is a top manufacturing and distribution company in the field of high quality watersports equipment in Europe, with 25 years of experience. It offers a full range of kayaks, canoes, paddles and related accessories under five brands: Tahe Marine, Egalis, Zegul, Trapper and Beluga. The company has two factories in Estonia and one in France, and currently employs 90 people. Tahe Outdoors’ sales network covers more than 35 countries worldwide, including markets as exotic as Chile, Venezuela, Taiwan, South Korea, Singapore, Papua New Guinea and Martinique.

“The company is a growing and profitable business that is systematically gaining market share. It is already the biggest kayak supplier in Scandinavia – Europe’s most demanding market,” said Alek Wasiukiewicz, a vice president at Enterprise Investors, who is in charge of this investment. “Tahe’s modern production facility is one of the company’s many competitive advantages. Moreover, its production and transport cost structure as well as shorter delivery times give Tahe an advantage on the European market over Asian and American producers.”

“This partnership will safeguard the company’s strategy to become the European leader in watersports equipment,” commented Janek Pohla, president of Tahe Outdoors. “It confirms the quality of our value proposition, which we have built by developing our brands and modernizing our value chain. We will continue to introduce the industry’s newest materials and cutting-edge technologies.”

Enterprise Investors was advised by law firm Tark Grunte Sutkiene, and Tahe Outdoors was advised by law firm Lextal.

Enterprise Investors is one of the largest private equity and venture capital firms in Central and Eastern Europe. Active since 1990, the firm has raised eight funds with total capital exceeding EUR 2 billion. To date the funds have invested EUR 1.6 billion
in 132 companies across a range of sectors and exited 104 companies with total gross proceeds of EUR 2.1 billion.

For further information please contact:

Enterprise Investors:
Alek Wasiukiewicz, Vice President
Anna Czywczyńska, Public Relations Consultant
tel.: +48 22 458 8500

Tahe Outdoors:
Janek Pohla, President
tel.: +372 600 8969+372 600 8969

Sklepy Komfort manages Poland’s largest network of stores selling wall-to-wall carpets, rugs, laminate and hardwood floors as well as other interior design elements. The company was established in the early 1990s and was originally based in Szczecin. EI’s investment has strengthened the company, which now runs an extensive network of over 100 stores throughout Poland, with headquarters in Łódź and a modern logistics base with a central warehouse in Stryków. “Komfort’s strong brand recognition and leading market position have brought us an offer from a renowned and experienced investor who plans to develop the company further,” said Jacek Siwicki, president of Enterprise Investors, who is responsible for this investment.

“After completion of the transaction I plan to continue the company’s business operations and further development. Komfort will build on its competencies and offer customers multi-brand and multifunctional flooring solutions, which will become its sole focus. My aim is for Komfort to become the first choice for customers purchasing new floors,” said Michał Sołowow. “The acquisition of Komfort is not my first transaction with the former owner of this company, as we met during the merger of two major Polish tile producers, Opoczno and Cersanit. I highly appreciate Enterprise Investors’ professionalism and effectiveness in building the value of their portfolio companies. In the case of Sklepy Komfort, the quality of organization achieved during EI’s investment period had a significant impact on my interest in the project,” he added.

Enterprise Investors is one of the largest private equity and venture capital firms in Central and Eastern Europe. Active since 1990, the firm has raised eight funds with total capital exceeding EUR 2 billion. To date the funds have invested EUR 1.6 billion in 131 companies across a range of sectors and exited 104 companies with total gross proceeds of EUR 2.1 billion.

For further information please contact:
Jacek Siwicki, President
Anna Czywczyńska, Public Relations Consultant
Tel. +48 22 458 8500

Danwood produces prefabricated houses using modern technology that is well established in Germany and Scandinavia. The company’s official seat, production plant and design and research department are located in Bielsk Podlaski and Białystok. In 2012 Danwood built 565 houses, generating revenue of EUR 76 million. The company sells 91% of its output to Germany, the biggest European market for ready-made houses, where it is the dominant player. Danwood controls all key areas of the value chain, from design through production and sale of prefabricated elements, construction and finishing.

“We see considerable further growth potential for Danwood, which has already succeeded in building its position on Europe’s most demanding markets with a technologically advanced product. We believe the company will be able to continue its dynamic development with our support,” said Sebastian Król, a partner at Enterprise Investors, who is in charge of this investment. “The key to Danwood’s success is a very competent management team that will work with us to build the company’s value,” he added.

Commenting on this market segment, Danwood’s president Jarosław Jurak said: “Prefabricated houses are increasingly popular throughout Europe. They are environmentally friendly, energy efficient and economical, and their construction takes less time and is cheaper than in the case of traditional technology.”

The company plans to focus on organic growth and building its position as leader on key markets. “We plan to reinforce our position in the remaining German-speaking countries, namely Austria and Switzerland. We will also use the knowledge and experience gained in Germany and Scandinavia to build more and more houses in Poland.” said Mr. Jurak.

Enterprise Investors is one of the largest private equity and venture capital firms in Central and Eastern Europe. Active since 1990, the firm has raised eight funds with total capital exceeding EUR 2 billion. To date the funds have invested EUR 1.6 billion in 131 companies across a range of sectors and exited 102 companies with total gross proceeds of EUR 2 billion.

For further information please contact:
Sebastian Król, Partner
Anna Czywczyńska, Public Relations Consultant
tel.: +48 22 458 8500

The Ballroom Group is a leading network for digital communication solutions in CEE and Turkey and the only sizeable option for any strategic player willing to establish a presence in the region. Its business focuses on three core divisions: Display Advertising/ AdPlatform, Performance Marketing/ Search Engine Marketing, and Video Advertising. In Poland the company operates under three brands: Evolution Media Net, iBillboard and ClickMotion. The Group offers unrivaled solutions for media owners, advertisers and agencies. It has more than 50 million unique users and employs c. 200 people in 5 local offices in Turkey, Poland, Hungary, the Czech Republic and Romania. In 2012 the company generated over EUR 30 million in revenues.

“The excellent business results we achieved in Ballroom have brought us an unsolicited offer from a leading industry player. The conditions of the transaction confirm the company’s strong fundamentals and further expansion potential. We are happy that we could contribute to the development of this outstanding business,” said Rafał Bator, partner at Enterprise Investors, who is responsible for this investment.

Enterprise Investors is one of the largest private equity and venture capital firms in Central and Eastern Europe. Active since 1990, the firm has raised eight funds with total capital exceeding EUR 2 billion. These funds have invested EUR 1.6 billion in 130 companies across a range of sectors and exited 100 companies with total gross proceeds of EUR 2 billion.

For further information please contact:
Enterprise Investors
Rafał Bator, Partner
Anna Czywczyńska, Public Relations Consultant
Tel. +48 22 458 8500

Nay a.s. is the largest electricals retailer in Slovakia with c.25% market share. The company was founded in 1991 by two private entrepreneurs, Peter Zalesak and Jan Tomas, who remained as majority shareholders following PEF V’s entry in 2005. PEF V, as a minority financial investor, actively supported Nay’s growth and development and in addition brought financial and corporate governance know-how. Since the time of PEF V’s investment, the company strengthened its market leadership position, growing from 12 to currently 30 modern stores and a leading internet presence, with revenues growing from EUR 73m to nearly EUR 150m in 2012.

The majority investors remain committed to further investment in Nay and its long-term development. Nay continues to expand on the Slovak market, having opened a new store in Cadca in February and with further store openings planned for this year. Nay also continues to invest in and significantly expand its successful e­commerce platform, under the site www.nay.sk.

“We are happy that we could contribute to the development of Nay. During our engagement the company tripled its store network, successfully launched its growing e-shop strategy, and significantly expanded the range and quality of offered products and services. We highly appreciate the cooperation with our shareholding partners and believe that the implemented strategies will continue to drive the further growth of Nay,” said Robert Manz, a managing partner at Enterprise Investors, who is responsible for this investment.

“This acquisition confirms our commitment to further develop Nay as a market leader in Slovakia. We are convinced that we will be able to continue executing our strategic plan by expanding the business both in brick and mortar stores as well as online, with the goal to deliver the best seamless service and product offering to our customers. We thank EI and its professionals for their contribution and the new perspectives they brought to Nay over the past years.”, said Peter Zalesak, chairman and founder of Nay.

Enterprise Investors is one of the largest private equity and venture capital firms in Central and Eastern Europe. Active since 1990, the firm has raised eight funds with a total capital exceeding €2 billion. These funds have invested €1.6 billion in 130 companies across a range of sectors and exited 101 companies with total gross proceeds of €2.0 billion.

Enterprise Investors was advised on the transaction by Allen & Overy.

For further information please contact:

Enterprise Investors
Robert Manz, Managing Partner
Anna Czywczyńska, Public Relations Consultant
Tel. +48 22 458 8500

Nay a.s.
Peter Zálešák, Chairman of the Board of Directors and shareholder
Ján Tomáš, Vice Chairman of the Board of Directors and shareholder
Martin Ohradzanský, Generálny riaditeľ
Emil Huraj, Marketingové oddelenie
Tel. +421 850 111 444

“We are proud to close Polish Enterprise Fund VII. This is the second largest fund ever raised by Enterprise Investors. The successful fundraising was achieved with strong support from our long-standing investors,” commented Jacek Siwicki, president of Enterprise Investors.

The investors in the fund are internationally recognized financial institutions, mostly existing LPs. Polish Enterprise Fund VII had its first close in May 2012. It has already made two investments – in a network of radiotherapy clinics (Center for Cancer Diagnostics & Therapy and Nu-Med) and in a sports nutrition company (Scitec).

Polish Enterprise Fund VII focuses on succession-driven buyouts from private entrepreneurs, as well as providing expansion capital to those who continue growing their businesses. Enterprise Investors’ strength lies in its ability to build excellent relationships with entrepreneurs active in the CEE region and with management teams interested in MBI and MBO transactions. The firm has followed this strategy for more than 20 years.

“We will continue making equity investments ranging mainly from €20 million to €50 million. Similarly to the previous funds, Poland will remain the core market and we expect to invest approximately two-thirds of Polish Enterprise Fund VII in Poland. We invest in sectors driven by the convergence of CEE domestic consumption with the ‘old’ EU, such as consumer products and retail, financial services, and healthcare, where we have substantial deal and exit experience. PEF VII will also invest in sectors driven by CEE’s growing internationalization and competitive cost position, for example IT, industrial products and business process outsourcing,” said Jacek Siwicki.

The final closing of PEF VII follows a very active period since the beginning of 2012, in which funds managed by Enterprise Investors completed seven new acquisitions with €124 million invested and committed. Enterprise Investors has also been very active in exiting companies. In 2012 EI completed four full and partial exits, including – for the first time ever – a public offering of its portfolio company (AVG Technologies) on the New York Stock Exchange. During the first four months of 2013, EI-managed funds exited their flagship investments in Zelmer, Kruk and Magellan (the latter partially), which are currently listed on the Warsaw Stock Exchange.

Enterprise Investors pioneered private equity and venture capital in Poland following its inception in 1990, and has developed outstanding investment experience over the past 23 years. With the closing of PEF VII, total funds raised by EI exceed €2 billion. To date, the seven private equity funds and one venture fund managed by Enterprise Investors have invested €1.6 billion in 130 companies across many sectors in Poland and other CEE countries. The funds have exited 98 investments, one-third of them via public markets.

Enterprise Investors has a team of 40 investment professionals, including ten partners, who operate from the firm’s offices in New York, Warsaw, Bucharest, Budapest, Bratislava and Prague.

For further information please contact:
Jacek Siwicki
President
tel. (+48 22) 458 85 00

Iwona Drabot
Public Relations Director
tel. (+48 22) 458 85 15

The group intends to use the additional equity for further acquisitions that it is negotiating as part of its consolidation of the Polish scrap-collection market, as well as for capex investments in scrap and recycling businesses.

Elemental Holding is the largest and the fastest-growing collector and processor of metals from secondary sources in Poland. The company has been consolidating the non-ferrous scrap metal market in the country and expanding its operations into the growing electro-waste recycling market since its inception in 2009. In the past year the group completed the acquisition of Syntom, a Polish recycler of non-ferrous metals. Last February it signed an agreement to purchase Terra Recycling, which operates one of the most modern plants in Poland for processing electrical as well as electronic waste and offers comprehensive recycling of household appliances, consumer electronics and IT equipment.

Elemental Holding’s main source of revenue, which in 2012 amounted to €215 million, is the trading of recyclable materials, particularly non-ferrous metals, including their segregation and basic processing. The group also operates on the fast developing market of electro-waste recycling, which involves the recovery of metals from used electrical and electronic equipment. Since 2012 the company has been listed on New Connect, an alternative market of the Warsaw Stock Exchange.

The group’s aim is to continue its focus on organic growth and on increasing its share of the Polish and global non-ferrous metals recycling sector. Currently, in addition to its domestic activity, Elemental is also present on foreign markets, including rapidly developing Asian countries.

“This latest investment by Enterprise Venture Fund confirms our strategy of supporting businesses led by management teams that have a well-defined plan for further development and that operate in promising sectors of the economy. EU law will require member states to collect at least 85% of electro-waste starting in 2016. In Poland, this means increasing current volumes threefold, which creates tremendous opportunities for well-prepared companies operating in the market of recovery of electrical and electronic waste. We are in no doubt that the companies forming the Elemental group can meet this challenge,” commented Rafał Bator, Partner of Enterprise Investors.

“The dynamic development of the domestic market for recycling and sale of recyclable materials gives Elemental Holding the opportunity to implement an ambitious development strategy in Poland and abroad. We intend to make further acquisitions and to build a large, prospering capital group. I am confident that Enterprise Venture Fund will help us achieve our expansion goals in Poland and the CEE. At the same time we are very pleased that Elemental Holding’s robust position on the capital market is reflected in the growing value of its shares,” said Paweł Jarski, CEO of Elemental Holding.

Enterprise Investors is one of the largest private equity and venture capital firms in Poland and Central and Eastern Europe. Active since 1990, the firm manages funds with capital exceeding €2 billion. These funds have invested €1.6 billion in 130 companies across a range of sectors and exited 97 companies.

Enterprise Venture Fund I is an EI-managed venture capital fund raised in 2008 with total capital of €100 million. Its investments typically range from €1 million to €5 million per project, but can exceed that amount. The fund finances the expansion of small and medium-sized enterprises operating in a range of sectors. To date, EVF has realized 13 investments in companies operating in Poland and the CEE.

For further information, please contact:

Enterprise Investors
Rafał Bator
Partner
tel. (+48 22) 458 85 00

Aleksander Wasiukiewicz
Investment Director
tel. (+48 22) 458 85 00

This is the fund’s second investment in medical services for oncology after its acquisition last year of the Center for Cancer Diagnostics and Therapy in Katowice, southern Poland. Enterprise Investors does not preclude consolidating these two entities in the future, within its strategy of building a group of specialist hospitals in the country. The value of the transaction and size of stake acquired were not disclosed.

The Elbląg-based Nu-Med center started full-scale radiotherapy operations in January 2013. The facility is owned by the Nu-Med Group and is located within the grounds of the voivodship hospital in Elbląg. The center is equipped with three linear accelerators and 25 hospital beds (with another 25 to be added within three months). Nu-Med has a contract in place with the Polish National Health Fund and offers medical treatment for oncology patients in northern Poland.

“Buying into Nu-Med is a strategically important move that allows us to create a consolidation platform and a potential market leader out of the companies we own as well as those we may acquire and develop in the future. We are already in negotiations regarding further openings of radiotherapy centers in various parts of Poland,” said Michał Kędzia, a vice president at Enterprise Investors, who is responsible for this investment.

“Our strength lies in the fact that we have experienced oncology professionals and that by working with the specialized voivodship hospital we provide the full range of cancer treatments. By partnering with an experienced financial investor such as Enterprise Investors we will significantly improve our competitive position in the market of oncology services,” commented Henryk Niewadzioł, Nu-Med’s president and co-owner.

Enterprise Investors is one of the largest private equity and venture capital firms in Poland and Central and Eastern Europe. Active since 1990, the firm has raised eight funds with total capital of €2 billion. These funds have invested €1.6 billion in close to 130 companies across a range of sectors and exited 96 companies with total gross proceeds of €1.8 billion. The company has broad experience in investing in different segments of the Polish medical market. The EI-managed funds have invested a total of €105 million in companies from this sector thus far. Enterprise Investors has been developing the Center for Cancer Diagnostics and Therapy since September 2012.

For further information please contact:

Michał Kędzia
Vice President of Enterprise Investors
tel. (+48 22) 458 85 00

Iwona Drabot
PR Director of Enterprise Investors
tel. (+48 22) 458 85 00

EP Serwis will use the capital injection to develop its pallet pooling services. The joint aim of Enterprise Investors and EP Serwis is to strengthen the company’s market position during the investment period.

EP Serwis has been operating on the wooden pallets market in Poland since 2000. At present the company provides comprehensive pallet services that include pooling, trading, exchange, logistics and repair, as well as recycling of used pallets (from which it manufactures pallet brackets). EP Serwis employs 140 people at its headquarters and plant in Kozienice, central Poland. The company collects pallets from 1,500 distribution points across the whole country and collaborates with several service points nationwide. Open pallet pooling, which EP Serwis introduced as a new service on the Polish market in 2010, has had a dynamic effect on the company’s growth and profitability. EP Serwis’s annual revenues are now approaching €10 million.

Pallet pooling is just starting to develop in Poland, with only a small percentage of the pallets in circulation being rented. In the United States, Australia and Western Europe, more than 50% of pallets are pooled. This means that the vast majority of the Polish market remains to be captured, implying huge growth prospects for this segment.

“We are happy to have joined forces with EP Serwis. All the measures taken by the company in the last few years, from the most basic activities connected with pallet production right up to the innovative service of pallet pooling, have turned EP Serwis into the market leader on Poland’s open pallet pooling market,” said Rafał Bator, a partner at Enterprise Investors. “The Polish market of EPAL-standard pallet rental services is in its infancy and our due diligence has shown that EP Serwis is best positioned to capture this emerging segment,” he added.

“EP Serwis wants to significantly accelerate its growth through upfront investment in system development and pallet pool expansion, both of which are needed to win new customers. We searched for a partner that would not only provide the necessary capital but also support us with corporate know-how. Hence we decided to collaborate with Enterprise Venture Fund I,” commented Marek Parkot, CEO of EP Serwis.

Enterprise Investors is one of the largest private equity and venture capital firms in Poland and Central and Eastern Europe. Active since 1990, the firm manages funds with capital exceeding €2 billion. These funds have invested €1.6 billion in 129 companies across a range of sectors and exited 96 companies with total gross proceeds of €1.8 billion.

Enterprise Venture Fund I is an EI-managed venture capital fund raised in 2008 with total capital of €100 million. Its investments typically range from €1 million to €5 million per project but can exceed that amount if an investment is attractive. The fund finances the expansion of small and medium-sized enterprises operating in a range of sectors. To date, EVF has realized twelve investments in companies operating in Poland and CEE.

For further information, please contact:
Enterprise Investors:
Rafał Bator
Partner
tel. +48 22 458 85 00

Iwona Drabot
Public Relations Director
tel. +48 22 458 85 00

EP Serwis:
Marek Parkot

CEO
tel. +48 48 382 05 24

Scitec Holding BV (“Scitec”) produces and sells a wide variety of sports nutrition products, primarily under the Scitec Nutrition® brand. Originally founded in the USA, the company currently has a significant market presence in Europe and has an extensive international sales reach, with its products available in more than 70 countries. Scitec’s products are well known among sports enthusiasts for their high quality and effectiveness.

Scitec is a leading player in the fast-growing sports nutrition market, where products such as protein supplements have been quickly increasing in popularity in recent years across the globe. The company has more than 20 years of experience in the sports nutrition sector.

“Scitec has built a strong reputation with the users of its sports nutrition products over the past two decades. The company delivers true quality and reliability in a market where users know what they want, and Scitec supports this with a heavily customer-focused business model. We believe Scitec has the right mix of experience and talent to continue its fast growth and we are ready to support the company’s further development,” said Robert Manz, managing partner at Enterprise Investors, who leads the investment.

Zsolt Bengyel, Scitec’s founder, who remains a minority shareholder following the transaction, said, “Scitec welcomes the involvement of Enterprise Investors and its co-investor, which we believe can provide important know-how and resources for the further expansion and growth of our company. I look forward to our cooperation and to making Scitec the global leader in sports nutrition.”

Enterprise Investors is a leading European private equity and venture capital firm. Active since 1990, the firm has raised eight funds with total capital of €2 billion. These funds have invested €1.6 billion in 128 companies across a range of sectors and exited 96 companies with total gross proceeds of €1.8 billion. The funds currently hold investments in 32 companies.

Enterprise Investors was advised on the transaction by White & Case and Ernst & Young. The seller was advised by Deloitte and Baker & McKenzie.

For further information please contact:
Enterprise Investors
Robert Manz, Managing Partner
tel. (+48 22) 458 85 00

Iwona Drabot
PR Director
tel. (+48 22) 458 85 00