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The V4C advised fund V4C Eastern Europe on 17 March 2017 entered into a preliminary sale and purchase agreement in respect of the fund’s last portfolio company, Konsalnet Holdings S.A. (“Konsalnet”).

The purchaser is China Security and Fire Company, a Shanghai listed company with activities in security services in China, Hong Kong, Macau, Thailand and Australia. Konsalnet is the company’s first European investment and is expected to serve as a platform for further expansion. The SPA provides for the sale of all of the Fund’s interests in Konsalnet, subject to the fulfillment of certain conditions precedent, including regulatory approvals in Poland and in the buyer’s home market, China. Closing is expected in the third quarter of 2017.

Konsalnet is Poland’s largest security services companies with activities in man guarding, cash handling, monitoring and technical solutions. The fund’s investment began in 2008 when it acquired Skorpion Security, the eighth largest Polish security company at that time. Acquiring Konsalnet Securities in 2009, V4C merged the two companies and subsequently made a series of follow on acquisitions, notably the acquisition of the Polish operations of the international group G4S in 2012. In all, V4C built the company from Skorpion’s initial Euro 30m turnover at its acquisition to a business with almost Euro 200m of revenues in 2016.

Jacek Pogonowski, V4C partner and President of the Management Board of Konsalnet, commented: “Having built Konsalnet to be a sizeable leader in Poland, we have put the company and Poland on the radar of strategic acquirers. The successful integration of three separate large businesses and several smaller ones to create a business with broad capacity and attractive margins helped ensure buyer interest. V4C is proud to have created a company that now represents one of the largest Chinese direct investments into a Polish and Central European corporate.”

Vienna Capital Partners acted as an exclusive investment banking advisor to the owners of Konsalnet

Source: V4C; 20170321

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