Enterprise Investors completes exit of PBKM

The accelerated bookbuilding process saw the GP sell its 38.1% stake through its Enterprise Venture Fund I and reap €22.7m in gross proceeds.

Including the initial floating in April 2016, the total gross proceeds generated by the investment reached €34.8m for the GP, yielding an 8.1x total gross multiple of cost, according to a statement.

Previous funding
In November 2009, the GP acquired a 50.1% stake in the business for €4.4m.

Subsequently, the fund manager floated the company in April 2016, selling a 17.3% stake. Following the offering, the GP's stake reduced from 55.4% to 38.1%. The sale generated a return of 6.7x money with gross proceeds of €8.7m for the GP, which committed to a 12-month lock-up period.

Company
Founded in 2002 and headquartered in Warsaw, PBKM is a stem-cell and cord blood bank operating in Europe and Turkey.

According to a statement, PBKM recorded revenues of €29.4m, EBITDA of €8.1m and €5.4m of net profit in 2016.

People
Enterprise Investors – Rafał Bator (partner).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• Healthcare
• CEE
• IPO
• Poland
• Enterprise Investors