Source: http://www.value4capital.com

15 July 2019
Value4Capital (“V4C”), the lower mid-market Polish and central European buy-out manager, today announced the final close of its V4C Poland Plus Fund (the Fund) at Euro 91m. Following earlier closings which  saw  the  Fund  receive  substantial  commitments  from  themanagement  team,  theEuropean  Investment Fund,  the  European  Bank  for  Reconstruction  and  Development,  and  a diversified  group  of  Polish  investors,  the  final  close  sawnotablya commitmentby  PFR  Fundusz Funduszy FIZ (“PFR”), part of the Polish Development Fundgroup.

The  Fund’s  management company is  wholly  owned  by  its  three  partners, Bill  Watson, Jacek Pogonowski, and Piotr Misztal.  They have been investing together since 2006 and active in the Polish and central European private equity market since the mid-1990s. V4C focuses on buy-outs, often in owner  succession  situations,  where  its  pro-active  involvement  can  accelerate  the  growth  of  the business.  The firm specialises in service businesses, looking for opportunities where the service has a strong local delivery componentparticularly in Poland, Romania and the Baltics.

Bill Watson said “Although we have been investing for many years, this is our first independent fund.  To  get  to  the  closing,  we  have  been  able  to  combine  capital  from  institutional  investors  with commitments from a diverse group of smaller, mainly Polish,investors.  AddingPFR, which is one of the  few  major  Polish  institutional  investors  active  in  private  equity,  is  an  important  signal  to international and domestic investors that Polish capital recognises the opportunity in private equity.”

Jacek Pogonowski commented: “We believe the Fund’ssize augmented with our ability to access co-investment capital puts us in the heart of the Polish and central European investment opportunity: targeting profitable, growing, mid-market service businesses.We are one of the few Polish focused funds of this size with capital currently available to invest.”

Piotr Misztal noted: “The pipeline is active and increasingly focused on emerging themes in thenew economy.  We have already completedtwo deals:  the October 2018 acquisition of Kom-Eko S.A., the Lublin based waste management companywhich is growing as the circular economy takes root,and the  May  2019  acquisition  of  Dreamcommerce  S.A.,  which under  the  Shoper®brand provides  a complete e-commerce ecosystem for Polish SMEslooking to sell on-line.”

Through the earliercommitment by EIF, the Fundbenefits from financial backing from the European Union under the European Fund for Strategic Investments (“EFSI”), set up under the Investment Plan for Europe.  The Polish Growth Fund of Funds (“PGFF”) is also an indirect investor in the Fund. The PGFF is an initiative created by cooperation between BGK (Bank Gospodarstwa Krajowego in Polish) and the European Investment Fund.

Contact:
V4C:
Bill Watson
+352 288 618 50
bill.watson@value4capital.com