Buyout (LBO, MBO, MBI) • Financial Services

Advent International and Syntaxis Capital Acquire Ultimo Sp. z o.o.

On October 26, 2006, private equity firm Advent International and mezzanine finance firm Syntaxis Capital acquired financial services company Ultimo Sp. z o.o.

Acquisition Context
  • This is Advent International’s 11th and Syntaxis Capital’s 1st transaction in the Financial Services sector.
  • This is Advent International’s 7th and Syntaxis Capital’s 1st transaction in Poland.
Investment Fate
  • Ultimo Sp. z o.o. was sold to a strategic buyer in 2014.

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M&A Deal Summary

Date October 26, 2006
Target Ultimo Sp. z o.o.
Sector Financial Services
Buyer(s) Advent International
Syntaxis Capital
Deal Type Buyout (LBO, MBO, MBI)

Target Company

Ultimo Sp. z o.o.

Warsaw, Poland
ULTIMO is Poland's leading debt purchase and collection business. Ultimo has been quick to capitalise on a sector that has over the last five years generated impressive double-digit growth. The opportunity shows no sign of diminishing with more and more companies selling non-performing receivables.
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Buyers Overview 2

Buyer

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 91.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.


Deal Context for Buyer #
Overall 138 of 353
Sector: Financial Services 11 of 36
Type: Buyout (LBO, MBO, MBI) 91 of 156
Country: Poland 7 of 10
Year: 2006 9 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-01 Americus Dental Labs

Jamaica, New York, United States

Americus Dental Labs, Inc was formed in 1994 through the consolidation of three NewYork based Dental laboratories including McAndrews Northern Dental Laboratories, Inc.Restor-a-Dent Dental laboratories, Inc and So-mar Dental Studios, Inc.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-01 Vestolit & Co. KG

Marl, Germany

Operator of the largest fully integrated PVC production plants in Europe.

Sell -
Buyer

Syntaxis Capital

Vienna, Austria

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2006
PE ASSETS 250M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Syntaxis Capital is a private debt investor dedicated to providing long term capital to fast-growing medium-sized companies in Central Europe. It looks to invests in companies with an enterprise value of €50 - €300 million. Types of transactions include buyouts, growth capital, and consolidations. Syntaxis Capital was formed in 2006 and is based in Vienna, Austria with additional office in Warsaw, Guernsey.


Deal Context for Buyer #
Overall 1 of 17
Sector: Financial Services 1 of 1
Type: Buyout (LBO, MBO, MBI) 1 of 6
Country: Poland 1 of 12
Year: 2006 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-01 KISAN

Kanczuga, Poland

KISAN is a manufacturer of multi-layer composite ("MLCP") pipes and fittings in Poland. MLCP pipes are high-tolerance plastic and aluminium layered pipes used primarily in plumbing, central heating and floor-heating installations. KISAN was founded in 1991 and is based in Kanczuga, Poland.

Buy -