Innova Capital acquires Inelo and OCRK

Innova intends to grow the firms' transportation expertise and technology, both domestically and globally, under its ownership.

Innova curently manages two vehicles: the €112m Innova 3 raised in 2002, which is fully invested; and the 2006-vintage Innova 4, which raised €228m and has eight companies in its portfolio.

Earlier in October, unquote” learned that the PE firm is close to holding a first close for its sixth buyout fund.

In May 2017, the Warsaw-based firm acquired a 75% stake in Polish seating manufacturer Profim via Innova 5.

Company
OCRK has been operating in the Polish market since 2002. It employs 260 specialists in the labour and transportation laws of both Poland and the EU.

Meanwhile, Inelo offers software for the analysis and management of transport drivers’ working hours, as well as developing telematics services for the transportation industry.

Both companies are headquartered in Bielsko-Biała in southern Poland. Turnover amounted to PLN 58m in 2016, which is mainly derived from subscription-based revenues. Altogether, the group employs a staff of 450.

People
Innova – Magdalena Magnuszewska (partner).
Inelo and OCRK – Jakub Gieruszczak and Mirosław Stocerz (founders).

Advisers
Equity – PwC (tax, financial due diligence).
Company – PwC (M&A); GESSEL (legal).

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