Mid Europa Partners ("Mid Europa"), the leading private equity firm focused on buyouts in Central and Eastern Europe and Turkey, announced today that it has completed the acquisition of a majority stake in Kolej Gondolowa Jaworzyna Krynicka (“Jaworzyna Krynicka") from leading Polish financial institutions, PZU and PKO BP. The transaction was completed through Polskie Koleje Gorskie (“PKG") as an add-on to Polskie Koleje Linowe S.A. (“PKL"), a recently completed acquisition.

Located in Krynica, the second most popular mountain tourist destination in Poland, Jaworzyna Krynicka is one of the leading ski lift operators in Poland. The acquisition represents the first step of implementing the consolidation strategy of the mountain tourism market in Poland.

Zbigniew Rekusz, Partner of Mid Europa, commented: “We are pleased to have been able to complete this attractive investment shortly after the PKL acquisition. Combining PKL and Jaworzyna Krynicka under the PKG platform represents a key milestone in creating a market leader able to compete for tourists and skiers with mountain resorts in other countries."

The transaction was completed through PKG, an entity that was established by the Tatra communities to participate in the PKL privatisation process and is currently majority owned by Mid Europa. PKG’s shareholders will seek to co-operate with the Krynica municipality to support long-term sustainable growth in the region.

Mid Europa was advised in this transaction by EY, CMS Cameron McKenna, DCSA and Vienna Capital Partners. The transaction was executed by Tomasz Blicharski, Dominika Kozlowska and Zofia Szewczuk from Mid Europa.

For further information please contact:

Mid Europa Partners:
Zbigniew Rekusz, Partner +48 (22) 540 7120

David Westover/Agnès Riousse
+44 (0) 20 7638 9571

Notes to the editors:

Mid Europa Partners is a leading independent private equity firm focused on Central and Eastern Europe and Turkey. Operating from London, Budapest, Warsaw and Istanbul, Mid Europa Partners advises and manages funds of approximately €3.2 billion in aggregate. The Mid Europa Partners team has been investing in the region since 1999.