iEurope Fund LLC sold its shares in Slovenia-based ATech elektronika, generating a gross IRR of about 18%. The private equity fund also realized a gross cash-on-cash return of more than 2.3 times. Through the partnership with iEurope, ATech elektronika doubled both the size of its business and its factory.
ATech elektronika (www.atech.si)
ATech elektronika offers design, manufacturing, and support solutions to customers in the electronics industry throughout Western Europe in various market segments, such as connectivity products, electronic motor controls, and firewood and pellet heating systems controls. Specifically, the company designs and makes micro-controller based advanced lighting electronics for emergency lighting modules and electronic ballasts, and electronic assemblies for home appliances and power tools, among other specialty electronic assemblies. The manufacturer was founded in 1990 and currently has 76 full-time employees as well as 29 contractors. Forty-percent of the company’s products are sold in the European Union.
iEurope Capital (www.ieurope.com)
US-based iEurope Fund is managed by iEurope Capital, which has offices in New York and Budapest. The private equity fund targets investments in technology, media, IT, wellness, energy, consumer products, and environmental companies, among others, throughout the Central and Eastern Europe (CEE) region, so as to support and benefit from the economic unification of CEE countries and their more economically developed EU neighbors. iEurope also recently sold Vatera.hu Kft, a Hungarian Ecommerce company, to MIH Internet Europe BV in the largest sale to date of a Hungarian Internet company.
22/10/2008
Central & Eastern Europe, Electronic Manufacturing Services, Exit, Private Equity News, Slovenia