Published: September 1, 2009
Enterprise Investors (EI), the oldest and one of the largest private equity companies in Central and Eastern Europe (CEE), has opened an office in the Czech Republic.
The new Prague office will focus on the Czech market to identify and execute new investment opportunities, and the firm is already in negotiations regarding capital investments in several Czech companies. Furthermore, the office will help to manage existing investments, including EI’s ownership positions in AVG Technologies, a global provider of anti-virus software, and Kofola, one of the most significant producers of non-alcoholic beverages in Central and Eastern Europe.
Dariusz Prończuk, managing partner of Enterprise Investors, who oversees the firm’s investment activities in the Czech Republic, says: “EI’s current investments in the Czech Republic made it our second most important market. The new Prague office allows us to focus even more closely on the attractive Czech market and to continue building strong relationships with local entrepreneurs.”
The Prague office is headed by Ivan Jakubek, EI’s investment director, who has more than seven years of private equity, corporate finance, consulting and restructuring experience. He has worked for Enterprise Investors since 2005 and is responsible for the firm’s business development in the Czech and Slovak republics.
Commenting on the office opening, Jakubek says: “In the Czech Republic we have two of the largest companies in our portfolio – AVG Technologies and Kofola. The Czech market is key for us also from the perspective of further potential investments. By opening the office in Prague we want to be closer to our Czech partners and entrepreneurs.”
The firm has been investing in the Czech Republic since 2005 and actively seeks mid-sized investment projects (financed by its buyout fund) as well as smaller ones (financed by its venture capital fund). The firm’s focus in the Czech market is on projects in the consumer goods and retail, financial services, manufacturing and IT sectors.
EI manages one of the largest groups of private equity and venture capital funds in CEE, which invests capital from respected financial institutions from Western Europe and the US. The total amount of capital in these funds exceeds €1.7bn. During the course of its operations EI has invested €1.2bn in 113 companies in the CEE region. The firm has exited 91 investments with total proceeds of €1.4bn.
The company was established in 1990 in Poland and operates in the neighbouring markets including the Czech Republic. EI already has offices in Warsaw (Poland), Jersey City (US), Bucharest (Romania) and Bratislava (Slovakia).