M&A Deal Summary

Alior Bank Acquires Meritum Bank ICB SA

On October 21, 2014, Alior Bank acquired financial services company Meritum Bank ICB SA from Innova Capital and Encourage Capital for 107M USD

Acquisition Highlights
  • This is Alior Bank’s 1st transaction in the Financial Services sector.
  • This is Alior Bank’s largest (disclosed) transaction.
  • This is Alior Bank’s 1st transaction in Poland.

M&A Deal Summary
Date 2014-10-21
Target Meritum Bank ICB SA
Sector Financial Services
Buyer(s) Alior Bank
Sellers(s) Innova Capital
Encourage Capital
Deal Type Add-on Acquisition
Deal Value 107M USD

Target

Meritum Bank ICB SA

Gdansk, Poland
website
Meritum Bank is a financial institution specializing in the provision of services to small and medium-sized enterprises, local government units, health service sector entities and individual customers. The Bank offers its customers a wide range of deposit and loan products, including loans for enterprises for projects financed from EU funds.

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Buyer(S) 1

Buyer

Alior Bank

Warsaw, Poland

website

Category Company
Founded 2008
Sector Financial Services
Employees8,143
Revenue 3.8B EUR (2020)
DESCRIPTION

Alior Bank is a universal bank that provides a full range of services targeted at retail customers and business. Alior Bank was incorporated in 2008 and is headquartered in Warsaw, Poland.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (Poland) 1 of 1
Year (2014) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 2

SELLER

Innova Capital

Warsaw, Poland

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1994
PE ASSETS 1.1B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Innova Capital is a private equity firm focused on investment opportunities in Central Europe. Innova generally looks to invest in businesses operating in Poland, Hungary, the Czech Republic, however the firm will also consider companies operating in bordering areas, such as the Nordic Countries, as well as Germany and Austria. Target sectors include business services, specialist media, financial services, and telecom. Innova seeks to commit between €25 to €40 million of equity capital per transaction. The Firm's investment horizon is three to five years. Innova Capital was formed in 1994 and is based in Warsaw, Poland.

DEAL STATS #
Overall 17 of 27
Sector (Financial Services) 3 of 4
Type (Add-on Acquisition) 6 of 10
Country (Poland) 12 of 19
Year (2014) 1 of 2
Size (of disclosed) 7 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-01 Bakalland

Warsaw, Poland

Bakalland is a polish supplier of natural snacks and healthy product assortment. Bakalland is based in Warsaw, Poland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-22 Libet SA

Wroclaw, Poland

Libet S.A. is a concrete paver manufacturers producing a wide variety of pavers for both individual (residential), as well as industrial (high volume) use.

Sell -
SELLER

Encourage Capital

New York, New York, United States

website

Category Private Equity Firm
Founded 2014
PE ASSETS 250M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Encourage Capital LLC is an impact investment and advisory firm specializing in profitable and strategic investments to solve critical environmental and social problems. Encourage Capital, LLC was formed in December 2014 through the combination of Wolfensohn Fund Management, LP and EKO Asset Management Partners, LLC. Encourage Capital LLC was formed in 2014 and is headquartered in New York City.

DEAL STATS #
Overall 2 of 3
Sector (Financial Services) 2 of 3
Type (Add-on Acquisition) 1 of 1
Country (Poland) 1 of 1
Year (2014) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-19 Repco Home Finance

Chennai, India

Repco Home Finance is a professionally managed housing finance company. Repco Home Finance was founded in 2000 and is based in Chennai, India.

Sell Rs470M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-23 Ujjivan

Bengaluru, India

Ujjivan is the holding company of Ujjivan Small Finance Bank, which is focused on providing loan and savings products to the unserved and underserved population. Ujjivan serves over 3.5 million customers through its network of pan India branch network. Ujjivan was Incorporated in 2004 and is headquartered in Bengaluru, India.

Sell -
Mergr

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