London based Information Technology firm has landed USD 1.8 million in funding from a handful strategic investors led by Prague-based Credo Ventures. Apart from existing investors Sherry Coutu and Dave Mclure, venture capital firms Estag Capital and Atlas Venture also participated in the funding round. The company plans to use the money to add new [...]
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StartupYard’s Proactify Gets 40k Seed Funding
The Czech Republic’s StartupYard, a startup accelerator program, has received a second round of seed funding for one of its teams – Proactify.
Intellitix Raised USD 3 mln from Credo Ventures
Credo Ventures has invested USD 3 mln in an event management and cashless solutions company called Intellitix that uses RFID (Radio Frequency Identification) technology to reduce queue times, fraud attempts and erroneous ticket resales at large events such as music festivals. The capital, which was raised via the issue of new shares, will be used [...]
Penta buys 80% stake in Prague-based Masaryk Station Investment
Central European private equity and real estate firm Penta Investments has invested an amount equal to 80 percent stake in Masaryk Station Investment, which currently owns 66 percent of Masaryk Station Development; the other 34 percent is held by Czech Railways – České dráhy. The Prague deal will also involve subsequent land acquisition from the [...]
HP TRONIC will buy out Benson Oak’s stake in ETA
HP TRONIC, the Czech Republic’s biggest trader of consumer electronics has reached an agreement to buy 100 percent stake in Czech small applicances company, ETA from Benson Oak Capital. ETA (www.eta.cz) ETA a.s., founded in 1943 by entrepreneur John Prošvic, is a leading manufacturer of small domestic appliances, and enjoys a brand recognition of over [...]
Mid Europa Partners Increased Stake in Energy 21 up to 95%
The CEE region’s largest private equity firm, Mid Europa Partners (MEP) has increased its holding in Czech photovoltaic power park developer Energy 21 to 95 percent. The first investment of 60 mln euros in the company was made in May 2010. Energy 21 is the largest company operating in this sector in the region, with [...]
PPF Seeks to Exit Generali
Czech billionaire Petr Kellner controlled private equity group PPF is set to exit its Italian insurance venture Assicurazioni Generali SpA. PPF, which acquired the stake in Assicurazioni Generali SpA in 2007, has the option of exiting the business in 2013. However the Czech group, whose current stake in the joint venture is valued at about [...]
Czech Genesis Capital Seeks to Exit Pietro Filipi
Investor Genesis Capital is seeking to exit its investment in Czech designer clothing brand Pietro Filipi. Genesis had acquired a 58 percent stake in the fashion brand for Kč 63 million in 2004. Michaela Bakala’s Luxury Brand Management is rumored to have evinced interest in acquiring the stake. Pietro Filipi (www.pietro-filipi.com) The Pietro Filipi fashion label can be [...]
GED Raises Stake In Romania’s Continental Hotels
GED, a Spanish based private equity firm, has purchased a 30% share in Continental Hotels, from Czech based PPF Partners. This will increase GED’s holdings in the Romanian based hotel chain to 50%. This purchase represents the largest investment GED has made in Eastern Europe since 1996. The remaining shares will be held by Enache [...]
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Genesis Capital To Acquire Large Stake In Servodata
Czech private equity firm Genesis Capital, through its GPEF II fund, has acquired a majority stake in Servodata, an information storage and software business. Servodata’s CEO Rostislav Jirkal will retain a large stake in the company and decision making powers. The transaction is still subjected to approval by the Antimonopoly Authority, but they expect approval [...]
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PPF Acquired Russia’s Rav Agro-Pro
Bavella B.V., a subsidiary of Czech PPF Group, has acquired a 100% stake in Russian based Rav Agro-Pro. This is the first agricultural investment made by PPF Group. Contributing to the investment, RP Capital made a co-investment in this venture by purchasing a 20% stake in Bavella B.V. Rav Agro-Pro (www.ravagro.ru) Rav Agro-Pro owns nearly [...]
Credo Ventures Leads Financing Round In Beepl
Credo Ventures has led a six-figure investment into Beepl, a new expertise platform technology company. Credo Ventures targets early-development Internet or IT companies in the Central Eastern Europe (CEE) region. This investment is considered seed money for product development and launching. Beepl (www.beepl.com) Beepl was established in April 2011, with Steve O’Hear, formally of Tech [...]
Second Closing Finalized on Credo Stage I Fund
Prague based Credo Ventures announced the second closing of Credo Stage I. Credo Stage I is the first fund by this capital venture firm that will target early developmental stage companies in the healthcare, IT and Internet industries. Credo Ventures has announced that this fund will be used for business ventures in Central Eastern Europe, [...]
ARX Equity Invests Into Major Share Of Czech Company Manag
ARX Equity has acquired a major stake in Czech electrical equipment manufacturer, Manag. The buy-in was values at approximately EUR 25 million, ARX Equity has stated that they intend to pursue rapid growth with this company through strategic acquisitions and internal growth. Manag a.s. (www.manag.com) Manag is Czech electrical manufacturing and design firm which services [...]
Banco Popolare Czech Republic Back Acquisition By AnaCap Completed
AnaCap, a London based private equity firm, has completed its purchase of Banco Popolare Ceska Republika, a division of the Italy based Banco Popolare. The Italian bank struck this deal with AnaCap in 2009 after the Italian government had to bail the parent company out from a financial crisis. Banco Popolare Ceska Republika (www.bpcr.cz) Banco [...]
Biolit Brand Acquired By Bochemie
Central Europe’s leading manufacturer and supplier of household care products, Bochemie, has broadened its offerings by purchasing a 100% share of the Lybar a.s. Lybar is the leading manufacturer of insecticides under the brand name BIOLIT, in the Czech and Slovak areas. At the time of the sale, Lybar only had three shareholders. Biolit currently [...]
Advent Picks up TES Vsetín and MezServis from Penta
Global equity investor Advent International recently announced the acquisition of two partner companies from the Czech Republic’s Penta Investments. The two companies,TES Vsetín and MezServis, make up what will be called the TES Group. Advent will acquire 100% of the shares of both companies pending the approval of German and Czech authorities. Penta first purchased [...]
Credo Ventures and Cognitive Security Reach €1m Deal
Credo Ventures, the Czech VC firm with an appetite for investments in high-tech businesses, has announced a €1 million investment in Cognitive Security. The new funding will enable Cognitive Security to market its CognitiveOne security product. The investment will be made through Credo’s €11 million Stage I Fund, even as Credo works toward increasing that [...]
Sazka Might Find Saviour in Italy’s Lottomatica
Czech betting and gaming company Sazka, struggling to fend of attempts at forcing insolvency, may find a saviour in Italian counterpart Lottomatica. The two have been working together for some time, with Lottomatica currently working on gaining operational control of Czech lottery terminals for Sazka. The Italian gaming company has already thrown it’s support behind [...]
Oaktree Preparing Exit From Stock Spirits
Oaktree Capital Management is preparing to divest itself of Stock Spirits, the Central European alcoholic beverage producer. Although Oaktree appears to be planning for auction, the company has not specifically indicated that selling Stock Spirits to another private equity investor is definitely the plan. Oaktree appears to also be considering an initial public offering if [...]
