V4C buys stake in Warsaw-listed Summa Linguae

The GP deployed capital from Luxembourg-registered V4C Poland Plus Fund, which held a final close on €91m in July 2019. The fund invests equity tickets of €10-25m for majority stakes in central European SMEs, particularly in the service industries.

Unquote understands that at this stage V4C does not intend to de-list the company.

The investment in Summa Linguae consists of the acquisition of 1.02 million existing shares of the company from selected shareholders for a sale price of PLN 13.5 per share, and 2.95 million newly issued shares for an issue price of PLN 13.5 per share.

The parties agreed that 9 December will be the closing date of the transaction. The deal is contingent upon the prior closing of two acquisitions made by Summa Linguae – a US-based life sciences language service provider, and Canada-based data annotation company GlobalMe Localizations.

Company
Founded in 1995 and headquartered in Krakow, Summa Linguae is a translation agency, and the first and only Polish language service provider listed on the Warsaw Stock Exchange. It provides translation services for 100 languages, including interpreting, proofreading and review, audiovisual, and localisation of games, software and apps.

Summa Linguae doubled its net revenues to PLN 20.7m in 2018 and reached a positive EBITDA of PLN 400,000. The company employs 130 staff.

People
Value4Capital – Krzysztof Zdanowski (CEO).
Summa Linguae – Madhuri Hegde (co-founder, chief operations officer).

Advisers
Company – EY (corporate finance).

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