Enterprise Investors finds Komfort in Poland

Polish Enterprise Fund V and Polish Enterprise Fund VI – private equity funds managed by Enterprise Investors – have finalised their purchase of the Komfort retail chain. PEF V and PEF VI have bought out 100 per cent of the Komfort retail chain for a total of €64m, with half the transaction amount financed with acquisition debt.

Komfort is a Polish network of stores selling carpets, rugs and laminate/hardwood floors. Established in the early 1990s and based in Szczecin, the company now has a network of 100 stores throughout Poland. Komfort achieved 2006 sales of around PLN 340m and operating profit close to PLN 20m.

EI said they plan to further expand the store network not just in Poland but potentially also in other CEE countries. The firm noted that they see Komfort as a good candidate for flotation on the Warsaw Stock Exchange in a few years.

Enterprise Investors has been active since 1990 as a private equity investor in Central and Eastern Europe. The firm manages six funds totaling €1.6bn. To date, these funds have invested €1bn in 104 companies from a range of sectors and have exited 88 investments with total proceeds of €1.2 billion.

Since 1993 EI has developed several retail chains in Poland, including Eldorado and Apteki Polskie, and has financed the expansion of the W.Kruk and Deni Cler exclusive jewelry and fashion salons. EI owned 100 per cent of Nomi, a Polish chain of DIY stores. As an investor in LPP, Enterprise Investors contributed to the introduction of the Reserved and Cropp fashion labels in CEE countries. In the last two years EI-managed funds acquired Nay, a chain of stores in Slovakia selling white and brown goods, as well as the Romanian food retailer Artima.
Source:altassets.com