{"id":21246,"date":"2017-07-14T19:27:29","date_gmt":"2017-07-14T17:27:29","guid":{"rendered":"http:\/\/modern-wilderness.flywheelsites.com\/?p=21246"},"modified":"2017-07-14T19:28:00","modified_gmt":"2017-07-14T17:28:00","slug":"majority-shares-polish-profim-sold-private-equity-fund-innova-capital","status":"publish","type":"post","link":"https:\/\/officerepublic.news\/en\/2017\/07\/majority-shares-polish-profim-sold-private-equity-fund-innova-capital\/","title":{"rendered":"Majority of shares of Polish Profim sold to private equity fund Innova Capital"},"content":{"rendered":"<p><strong><a href=\"https:\/\/www.innovacap.com\/innova-capital-to-acquire-a-stake-of-nearly-75-in-profim\/\">Innova Capital<\/a>, a leading CEE private equity fund, acquired almost 75% in the Polish company Profim, one of the leading office seating manufacturers in Europe.<\/strong><\/p>\n<p>Investment in Profim is another transaction by the experienced CEE private equity investor supporting one of the sector leaders in Polish manufacturing industry to continue its dynamic growth. Thanks to the acquisition Innova Capital gains exposure to one of the key Polish export industries.<\/p>\n<p>Innova Capital signed an agreement concerning the acquisition of around 75% of the shares in Profim sp. z o.o. The transaction is closed the 6. of july, after clearance by the Office of Competition and Consumer Protection (UOKiK). The parties have not disclosed the value of the transaction. Two of the founders of Profim, including its CEO Ryszard Rychlik, will continue as shareholders. It is the 10th such founder succession transaction executed by Innova Capital in recent years. A similar proven model of cooperation was successfully deployed by the fund in other investments, including, among others: Dom Finansowy QS, Marmite, Neomedic, Mercor and Donako.<\/p>\n<p><em>\u201cWe are very proud to<\/em><em>\u00a0be a majority shareholder in a company as modern and promising as Profim. In our strategy we focus on investing in companies which are leaders in their respective industries and are flagship representatives of the new class of Polish exporters. We are impressed by how successfully the company has developed over the past 25 years, especially becoming the leader on the Polish market. We also recognise its tremendous success in promoting its own brand in Germany. We intend to support the company in pursuing its ambitious plans for development on the very promising export markets, cooperating closely with its founders. Founder succession deals are the core transaction type for Innova,\u201d \u2013\u00a0<\/em>said Andrzej Bartos, Senior Partner at Innova, who has led the investment for the fund.<\/p>\n<h4>Strengthen position and building a strong brand on export markets<\/h4>\n<p>Profim\u2019s main goal is to strengthen its position as a leader on the office seating market and build the strong Profim brand on select key markets in Western Europe. Presently the company is one of the two leading manufacturers of office seating in Poland and one of the top ten players on the German market, considered the most competitive market for office furniture in Europe.<\/p>\n<p><em>\u201cCooperation with Innova Capital is a great opportunity for the company to accomplish faster its strategic objectives with the support of a professional partner. Delivering more innovative products, expanding exports and accelerating penetration of foreign markets requires capital and experience. That is why we see enormous value in the involvement of Innova Capital at this stage of development of the company,\u201d<\/em>\u00a0said Ryszard Rychlik, CEO of Profim.<\/p>\n<p>The company is constantly increasing export revenues, introducing new models of seating that are developed together with leading Polish and European designers. In 2016 Profim generated around PLN 470m (\u20ac 111 mln) of revenue from sales, out of which 70% from export sales. Presently, the Company\u2019s distribution network includes over 1,000 dealers in 30 countries.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Innova Capital, a leading CEE private equity fund, acquired almost 75% in the Polish company Profim, one of the leading office seating manufacturers in Europe. Investment in Profim is another transaction by the experienced CEE private equity investor supporting one of the sector leaders in Polish manufacturing industry to continue its dynamic growth. Thanks to&hellip;<\/p>\n","protected":false},"author":6,"featured_media":21247,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"Majority of shares of Polish Profim sold to private equity fund Innova Capital","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[3101,3091,3148],"tags":[4607,3212,4600],"jetpack_publicize_connections":[],"acf":{"app_titel":"","app_article":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.5.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Majority of shares of Polish Profim sold to private equity fund Innova Capital | OfficeRepublic<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/officerepublic.news\/en\/2017\/07\/majority-shares-polish-profim-sold-private-equity-fund-innova-capital\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Majority of shares of Polish Profim sold to private equity fund Innova Capital | OfficeRepublic\" \/>\n<meta property=\"og:description\" content=\"Innova Capital, a leading CEE private equity fund, acquired almost 75% in the Polish company Profim, one of the leading office seating manufacturers in Europe. 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