Cinven invests in RTB House

It is the 14th investment from Cinven VI, a €7bn buyout fund that held a final close in June 2016 and is currently approximately 70% deployed, according to Unquote Data.

Cinven said in a statement that it was attracted to the sector due to strong structural growth trends and to the company specifically because of its blue-chip customer base and strong management team. The business is led by CEO Robert Dyczkowski, chief technology officer Bartłomiej Romański, chief operating officer Daniel Surmacz and VP of sales Wojciech Głowacki.

Under the GP’s ownership the business plans to further internationalise, continue to invest in its product and pursue add-on acquisitions.

The business was put up for sale by its founders (Dyczkowski, Romański and Surmacz) with CC Group advising in October 2018, according to Unquote sister publication Mergermatket. The publication said the vendors expected to achieve a valuation of 10x its projected 2018 EBITDA of $30m.

Company
RTB was founded in 2012 and is headquartered in Warsaw. It provides brands with software for ad buying, which is powered by deep learning algorithms. The company employs 400 people and serves 1,500 clients in 70 countries.

People
Cinven – Chris Good (partner); Adam Prindis (principal)
RTB House – Robert Dyczkowski (CEO); Bartłomiej Romański (chief technology officer); Daniel Surmacz (chief operating officer); Wojciech Głowacki (VP sales).

Advisers
Equity – Clifford Chance (legal); Deloitte (financial due diligence); Medialink (commercial due diligence); Prohaska (legal); RBC Capital Markets (debt advisory); Vienna Capital Partners (corporate finance).
Company – CC Group (corporate finance).

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• Buyouts
• CEE
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