Enterprise Investors in €170m Scitec Nutrition exit

The deal also provides an exit for minority shareholders in Scitec, including Morgan Stanley Alternative Investment Partners.

Of the €170m sale price, €150m will be paid up front and the remaining €20m will be paid a year from the transaction's completion.

Previous funding
Enterprise's exit comes three years after it invested in Scitec, taking a majority stake through its Polish Enterprise Fund VII fund alongside a minority-stake investment from Morgan Stanley, with the investment held in a Netherlands-incorporated holding vehicle.

Scitec founder Zsolt Bengyel retained a minority stake following the buyout.

Company
Founded in 1996 and based in Budapest, Scitec is a producer of sports nutritional supplements such as protein powder.

The company employs 700 people across 90 countries and took €11m in net profits from €100m in revenues in 2015.

People
Enterprise Investors – Robert Manz (managing partner).

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