Investments

The Investor LBO FIZ fund supports companies with capital, advisory services, and restructuring. At present the fund holds investments in five companies:

Stone Master, financial investment (2010)

A leading manufacturer of decorative and facade stone in Poland. In operation since 1995, the firm is now headquartered and has its production facility in Andrespol near the city of Łódź. It offers exterior facade stone, interior decorative stone, finishing & decorative elements, fireplace housings, and chemical products for use in construction.

The company does business with clients in Poland, most EU countries, the United States and Belarus. Its distributors in Poland include the country's largest building-materials store chains - Leroy Merlin, OBI, Praktiker, Royal Hurt, Merkury Market, Bricoman - as well as many local chains.

With this investment the fund envisions a medium-term investment horizon and plans to assist in taking the company public, most likely in 2011.

Company website: www.stonemaster.com.pl

Nokaut, financial investment (2010)

This price-comparison website collaborates with 2,200 online shops and has 3 million visitors per month. Aside from its flagship website, Nokaut.pl, the company is also developing other projects, such as SklepyFirmowe.pl (a platform for setting up one's own online shop) and Bazarek.pl (one of the largest comprehensive shopping sites).

The shares held by the fund were purchased from an investor who had financed project start-up back in 2006.

Within the several-year investment horizon, the fund will collaborate on developing the firm and growing its value, ultimately taking the company public.
Company website: www.nokaut.pl

Masovia Windfarm (Windfarm Holding), seed capital (2009)

This firm, set up as a special purpose vehicle, invests in three new wind-farm projects situated in central Poland with an overall capacity of 120 MW.

The Investor LBO FIZ fund leads a consortium of financial investors involved in the project, and envisions short- or medium-term involvement.

Ultimately the fund plans to sell its shares to an industrial investor as quickly as possible after project launch. It expects a high rate of return on investment (with limited risk due to the involvement of the other financial investors) and robust development in the renewable energy market.

ERG-System, restructuring (2009)

As the manufacturer and distributor of plastic crates for transporting goods, ERG System operates on a market that is affected by the market climate only to a limited degree. The company's indirect privatization (its previous owner having been a state-owned company) led to its purchase in 2009 by a consortium of trade/financial investors including the Investor LBO FIZ fund. The transaction was carried out by DI Investors.

Currently the company is going through a process of optimizing its production, with the assistance of its trade investor. Its non-production assets are of considerable value, and so a real estate project to sell off part of these assets has been launched.

The owners' objective is to raise the company's value through financial and operational restructuring, and ultimately to withdraw from the investment by selling to the trade investor or taking the company public.

Website: www.erg-system.pl

CB headquartered in Opole,capital for development (2008)

CB manufactures and distributes specialized construction materials used in new buildings and in insulation/renovation work on existing constructions. The company has been in business since 1995 and sells products under three brand names: Corotop roof membranes, Rednet fiberglass mesh for reinforcing surfaces covered in plaster, and Secco chemical products for hydroinsulation.

CB has the following subsidiaries: Globau dealing with the manufacturing (casting) of membranes, a German construction mesh factory Asglatex (its acquisition was performed with the help of the Investor LBO FIZ fund), and the German company Kiosk Rednet, primarily an online distributor of Rednet meshes.

The owners' objective is to raise the company's value through organic growth and acquisitions, and ultimately to withdraw from the investment by selling to the trade investor or taking the company public.

Website: www.cb.com.pl

The Investor FIZ fund, in turn, which is managed by Investors TFI, is an investment fund that follows an opportunistic strategy and mainly invests in listed instruments but its portfolio also includes the following nonpublic company. This transaction was executed on behalf of the fund by the DI Investors team.

Tamex headquartered in Warsaw, pre-IPO (2007)

Tamex is a constructor of sports facilities throughout Poland. These are primarily outdoor facilities such as football fields, athletics stadiums, multifunctional facilities, tennis courts, and running tracks, as well as indoor gyms and tennis courts. Its scope of activity also includes comprehensive contracting, from developing the concept of a sporting facility, its construction, and 'turnkey' finishing. Tamex has been in business since 1999.

The owners' objective was to increase the company's liquidity before listing it on the Warsaw Stock Exchange. The Investor FIZ fund is a passive, financial, minority shareholder in Tamex. Most of the shares belong to the company's founders, who continue to manage it. Plans call for a public issue of shares for new investors in the near future, and for Tamex shares to become publicly listed.

Website: www.tamex.pl