Enterprise Investors exits PBKM
Warsaw, 5 June 2017 — Enterprise Venture Fund I (EVF), the venture capital fund managed by Enterprise Investors (EI), has sold its remaining 38.1% stake in Polski Bank Komórek Macierzystych (PBKM), a leading cord blood bank in Europe, through an accelerated bookbuilding.
- The transaction generated gross proceeds of EUR 22.7 million;
- The total gross proceeds generated by the investment reached EUR 34.8 million, yielding an 8.1x total gross multiple of cost.
Polski Bank Komórek Macierzystych, which operates under the Famicord Group brand, is a cord blood bank with a dominant position in EU and Turkey. The company was established 2002 as Poland’s second cord blood bank. Today this European market leader holds around 132,000 cells and tissue samples. In 2016 PBKM recorded revenues of EUR 29.4 million, EBITDA of EUR 8.1 million and EUR 5.4 million of net profit.
In November 2009 EVF became the company’s majority shareholder when it acquired 50.1% of PBKM’s shares for EUR 4.4 million. Prior to the IPO, which took place in April 2016, EVF held a 55.4% stake in the company. During the process the fund sold 17.3% of PBKM and retained a 38.1% stake in the company.
Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. Active since 1990, the firm has raised eight funds with total capital exceeding EUR 2 billion. These funds have invested EUR 1.7 billion in 137 companies across a range of sectors and exited 122 companies with total gross proceeds of EUR 3.4 billion.
For further information please contact:
Rafał Bator, Partner
Anna Czywczyńska, PR Consultant
tel.: +48 22 458 8500
www.ei.com.pl