Enterprise Investors acquires a stake in X-Trade Brokers
Warsaw, 4 October 2010 — Polish Enterprise Fund VI (PEF VI), a private equity fund managed by Enterprise Investors (EI), has signed an agreement under which it will acquire a significant minority stake in X-Trade Brokers, a global brokerage house. The €57 million transaction will be finalized following approvals by the Polish Office for Competition and Consumer Protection as well as the Polish Financial Supervision Authority.
X-Trade Brokers is the largest brokerage house focused on forex, commodities, indices and CFD products in Central and Eastern Europe. Three years ago the company began to expand globally. It now serves over 25,000 individual clients in more than 20 countries. X-Trade Brokers has entertained exceptionally dynamic revenue and profit growth since inception. Its net profit totalled more than €12 million in 2009.
“We watched and admired the dynamic global expansion of X-Trade Brokers, and have kept in touch with its talented and active management. Our entire team is happy to have signed the agreement today. In our view the company clearly has capacity for further rapid growth. We want to contribute our experience in building the value of financial firms and our support for the strategy presented to us by X-Trade Brokers”, said Sebastian Król, partner at Enterprise Investors who leads this investment.
“We are glad to have won over Enterprise Investors, which is an experienced investor in the financial sector. Thanks to our cooperation with EI, the global expansion of X-Trade Brokers will continue to accelerate and our organizational structure will be strengthened”, said Jakub Zabłocki, CEO of X-Trade Brokers Biuro Maklerskie SA.