Warsaw-listed Budimex Danwood sold to Enterprise Investors for €57m

The PLZ 238.6m (€57.1m) deal should generate a one-off positive impact on Budimex Group's 2013 results.

Plans for the business under Enterprise's stewardship include building more in Poland through Danwood's expertise gleaned in Germany and Scandinavia.

Company
Budimex was founded in 1972 and is headquartered in Bielsk Podlaski. Danwood has sales offices throughout Europe including in Germany, Austria, Switzerland, France and the UK. The business built 565 houses last year, generating revenues of €76m. The company exports 91% of its products to Germany.

Budimex has been listed on the Warsaw Stock Exchange since 1995, with Ferrovial its main shareholder. The Budimex Group employs more than 4,000 people.

In addition to Danwood, Budimex companies comprise Budimex Nieruchomości, Przedsiębiorstwo Napraw Infrastruktury and Mostostal Kraków.

More than 100 Dan-Wood houses have been completed in the UK, with the firm's UK headquarters in the Scottish Borders.

Budimex Group posted an operating profit of PLZ 194.3m last year, down from PLZ 280.3m in 2011.

Budimex became part of Ferrovial in 2008 when Spanish infrastructure group acquired a 37% stake in Budimex.

People
Jarosław Jurak is president of Danwood. Sebastian Król is partner at Enterprise Investors.

Advisers
Equity – Gessel (Legal).

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