Innova Capital’s acquisition of 75% interest in Profim sp. z o.o.


Greenberg Traurig represented Innova Capital, a leading CEE private equity fund, in the acquistion of Profim sp. z o.o., one of the leading office seating manufacturers in Europe by the Flokk Group, controlled by Triton Partners, a leading Scandinavian private equity fund.

Investment in Profim is another transaction by the experienced CEE private equity investor supporting one of the sector leaders in Polish manufacturing industry to continue its dynamic growth. Thanks to the acquisition Innova Capital gains exposure to one of the key Polish export industries.

Innova Capital signed an agreement concerning the acquisition of around 75% of the shares in Profim sp. z o.o. The transaction is expected to close in Q2 2017, after clearance by the Office of Competition and Consumer Protection (UOKiK). The parties have not disclosed the value of the transaction. Two of the founders of Profim, including its CEO Ryszard Rychlik, will continue as shareholders. It is the 10th such founder succession transaction executed by Innova Capital in recent years. A similar proven model of cooperation was successfully deployed by the fund in other investments, including, among others: Dom Finansowy QS, Marmite, Neomedic, Mercor and Donako.

The company is constantly increasing export revenues, introducing new models of seating that are developed together with leading Polish and European designers. In 2016 Profim generated around PLN 470m of revenue from sales, out of which 70% from export sales. Presently, the Company’s distribution network includes over 1,000 dealers in 30 countries.

Greenberg Traurig lawyers advised on all aspects of the Transaction, in particular with respect to the negotiation of transaction documents and the shareholders’ agreement.

On behalf of the Greenberg Traurig Warsaw office, the Transaction has been supervised by Managing Partner Jaroslaw Grzesiak (picture) and led by Partner Pawel Piotrowski.

Involved fees earner: Pawel Piotrowski – Greenberg Traurig; Jaroslaw Grzesiak – Greenberg Traurig;

Law Firms: Greenberg Traurig;

Clients: Innova Capital;

Print Friendly, PDF & Email