M&A Deal Summary

Mid Europa Partners and HarbourVest Partners Acquire Profi

On November 23, 2016, private equity firms Mid Europa Partners and HarbourVest Partners acquired retailer Profi from Enterprise Investors

Acquisition Highlights
  • This is Mid Europa Partners’ 2nd and HarbourVest Partners’ 4th transaction in the Retail sector.
  • This is Mid Europa Partners’ 3rd and HarbourVest Partners’ 1st transaction in Romania.

M&A Deal Summary

Date 2016-11-23
Target Profi
Sector Retail
Buyer(s) Mid Europa Partners
HarbourVest Partners
Sellers(s) Enterprise Investors
Deal Type Secondary Buyout

Target

Profi

Timisoara, Romania
website
Profi is a supermarket chains in Romania, operating 65 stores in 47 Romanian cities. Profi is the modern retail network with the largest geographical expansion in Romania. Profi was founded in 2000 and is based in Timisoara, Romania.

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Buyer(S) 2

Buyer

Mid Europa Partners

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1999
PE ASSETS 5.3B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Mid Europa Partners is a private equity firm focused on investing in Central and Eastern Europe. Mid Europa prefers control based investments in market leading companies operating in industries with high barriers to entry. Sectors of interest include telecom, media, utilities, transportation, natural resources, industrial, healthcare, building materials, manufacturing, and agriculture. The Firm looks to commit €75 to €200 million of equity capital per transaction in businesses valued up to €500 million. Prospective transaction types include buyouts, take-privates, divestitures, turnarounds, and large scale expansions. Mid Europa Partners is the successor entity to EMP Europe Ltd, which was formed in 1999. Mid Europa has offices in Budapest, Warsaw, and London.


DEAL STATS #
Overall 33 of 45
Sector (Retail) 2 of 3
Type (Secondary Buyout) 6 of 12
Country (Romania) 3 of 4
Year (2016) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-14 Allegro

Poznan, Poland

Allegro is an online marketplace in Poland that connects consumers with merchants. With more than 20 million users per month, 13 million active buyers and 125,000 merchants. Allegro offers consumers a vibrant and expansive shopping experience, and merchants excellent commercial opportunities. The group also operates Ceneo.pl - Poland’s leading online price comparison website, and eBilet – the leading event ticket sales site in Poland. Allegro was founded in 1999 and is based in Poznan, Poland.

Buy $3.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-16 Invitel

Budaörs, Hungary

Invitel is an alternative telecommunication service provider, Invitel offers a wide range of info-communication solutions in the whole territory of the country. Invitel was founded in 1992 and is based in Budaors, Hungary.

Sell -
Buyer

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 152 of 223
Sector (Retail) 4 of 5
Type (Secondary Buyout) 33 of 55
Country (Romania) 1 of 1
Year (2016) 15 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-21 Carlile Bancshares

Forth Worth, Texas, United States

Carlile Bancshares, Inc. is a provider of buying small to regional banks that are looking for shareholder alternatives. Carlile Bancshares, Inc. was established in 2009 and is headquartered in Forth Worth, Texas.

Sell $434M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-01 D4C Dental Brands

Atlanta, Georgia, United States

D4C Dental Brands cares children’s oral health. D4C Dental Brands focus on supporting high quality patient care and their commitment to raising the standard in children’s oral health. The company exclusively supporting Pediatric and Orthodontic Practices. D4C Dental Brands is based in Atlanta, Georgia.

Buy -

Seller(S) 1

SELLER

Enterprise Investors

Warsaw, Poland

Investor Investor

website


Category Private Equity Firm
Founded 1990
PE ASSETS 2.5B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Enterprise Investors is a private equity firm focused on investments in Central and Eastern Europe, with a primary interest on opportunities in Poland. Enterprise Investors is a generalist investor and looks to commit €30 to €50 million in medium-sized businesses. Enterprise Investors was formed in 1990 and is headquartered in Warsaw.


DEAL STATS #
Overall 17 of 32
Sector (Retail) 3 of 4
Type (Secondary Buyout) 1 of 4
Country (Romania) 2 of 4
Year (2016) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-24 Scitec Holding BV

Orlando, Florida, United States

Scitec Nutrition is a producer and sells a wide variety of sports nutrition products.

Sell €170M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 JNT Group

Dobron, Poland

JNT Group is a producer and distributor of wine. It contains wine (grape, sparkling, mulled, dessert, organic, fruit), vermouths, ciders, low-alcohol drinks, hard seltzers, hard lemonade and others. JNT Group was founded in 1976 and is based in Dobron, Poland.

Buy -