Krokus invests in LOTOS Parafiny

The investor believes that LOTOS Parafiny is a stable business with a strong cash generation capability. Krokus were also convinced by the experienced management and the firm's strategy to expand into new markets and develop further products.

The investment was made from the €100m Krokus' Nova Polonia Natexis II fund.

Debt
Debt was used to facilitate the transaction but details were not disclosed.

Company
LOTOS Parafiny is a producer and distributer of refined paraffin masses applied in wood processing, textile and paper production, food processing as well as fertilisers. The company's product range also includes the manufacturing of candles. Currently LOTOS runs two facilities in Jaslo and Czechowice-Dziedzice. In 2011, the firm had a turnover of PLN 270m. Following the acquisition, the company will be renamed as Polwax.

People
Witold Radwański is president and managing partner at Krokus Private Equity.

Advisers
Company – Espirito Santo Investment Bank (Corporate finance); CMS Cameron McKenna (Legal)
Equity – BTFG Advisory (Legal); Gessel, Leszek Koziorowski (Legal).

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