Market

ESPIRA Investments (ESPIRA), a Prague-based private equity firm investing growth capital in SME companies based in Central Europe has exited ICON Communication Centres s.r.o. (ICON), a Czech multilingual business process outsourcer (BPO) to yoummday GmbH, the marketplace and technology platform that matches independent entrepreneurs with companies needing customer service talent.

ICON has provided international companies with outsourced customer operations functions since 2003. The company was co-founded by CEO Helen Hickin after identifying Prague as an ideal nearshore location due to its geography, advantageous price point, and the depth of multilingual talent available. ICON is capable of providing complex customer interactions in 30 languages and counts several of the world’s most well-known travel, telecommunication, and education technology companies within its client portfolio.

ESPIRA and ICON’s executive management team acquired ICON in 2019 in a management buy-out transaction that aligned with the private equity firm’s diversity-oriented investment focus. Emília Mamajová, ESPIRA’s Co-Founding Partner, stated “Our goal together with the management team was to develop ICON on the international arena as a successful independent provider of high value-added services – and over the past three years Helen and her team have succeeded in reaching this objective. We congratulate them and wish the team continued success in their partnership with yoummday.”

“Over the past twenty years, the BPO sector has changed significantly, and our investment cooperation with ESPIRA was key to strengthening ICON’s positioning in this fast-changing environment. Through innovative technology, yoummday has found an exciting new way for companies to outsource operations with greater flexibility. Now is the right time for ICON’s next phase of evolution and yoummday is the ideal partner to ensure ICON’s clients continue to benefit from innovative delivery solutions”, states Helen Hickin, CEO, ICON Communication Centres.

The purchase of ICON is yoummday’s first acquisition which accelerates the company’s international expansion as it seeks to disrupt traditional BPO and contact centre models. ICON brings significant benefits and expertise with respect to native-level multilingual capability, global reach, and B2B customer experiences.

“The acquisition of ICON furnishes the opportunity to strengthen our growth strategy, which is predicated on integrating traditional BPO operators into our own proprietary marketplace platform. We look forward to working with the ICON team and weaving their unique capabilities into the yoummday brand”, emphasized Dr. Klaus Harisch, CEO and Founder of yoummday.

ICON’s C-Team will continue to operate alongside yoummday, and the ICON brand remains in in operation for the foreseeable future.

The transaction was concluded on the 20th of July 2022 and the parties have agreed not to disclose the financial details of the transaction.

Global law firm Dentons has advised private investment firm B-Flexion and Affidea Group on the sale of the Group to Groupe Bruxelles Lambert.

Founded in 1991, Affidea is the largest European provider of advanced diagnostic imaging, outpatient, and cancer care services. Under B-Flexion’s ownership, the company has grown from 120 to over 320 centers across 15 European countries. With more than 11.000 professionals in its network, Affidea provides services to almost
12 million patients annually.

“Our team is delighted to have helped B-Flexion and Affidea for the next phase of the Group’s growth,” said Rob Irving, Co-Head of the Dentons’ Europe Corporate and M&A Group, who led the legal team on the transaction. “This deal showcases Dentons’ capabilities in major cross-border transactions throughout Europe, as well as in highly specialized and regulated sectors such as healthcare.”

“We were pleased to have had Dentons by our side to facilitate a smooth and efficient sale process,” said Carole Ducrest, General Counsel of Affidea Group. “With their broad experience and capabilities in both the healthcare and private equity sectors ensured that they were ideally positioned to support this strategic important transaction”.

Partner Rob Irving and Senior Associate Kamran Pirani co-led Dentons’ cross-border team on the deal, supported by associates Sebastian Ishiguro and Brigitta Kovács (Budapest); partner Petr Zákoucký and senior associate Adam Přerovský (Prague); pharmaceutical consulting director Maria Samolińska-Hojda and counsel Adam Odojewski (Warsaw); partner Perry Zizzi and counsel Doru Postelnicu (Bucharest); partner Ilaria Gobbato, with senior associates Ferdinando Bonofiglio and Carla Piccitto (Milan); partner Nieves Briz and counsel Natalia Ontiveros (Barcelona); associate Natalia Palomar (Madrid); partner Dogan Eymirlioglu, counsel Cisem Altundemir and associate Denizhan Uslu (Istanbul); partner Namik Ramić and associate Jade Serres (Luxembourg).

Dentons advises GeneProof on merger with American Laboratory Products Company

Global law firm Dentons advised Radek Horvath and Miloš Dendis, the founders of GeneProof a.s. (“GeneProof”), a leading Czech molecular diagnostics company, in connection with its combination with American Laboratory Products Company, Ltd., a US specialty in vitro diagnostics company, leading to the establishment of ALPCO Group.  The main shareholders of the new group will be Ampersand Capital Partners, a US private equity fund, Radek Horvath and Miloš Dendis.

GeneProof provides customers with technologically advanced solutions in the field of molecular in vitro diagnostics of serious infections and genetic diseases. The ALPCO Group aims to become a global market leader in the diagnostic products market, with broad capabilities spanning novel immunoassay testing kits, real-time PCR testing products, and automated laboratory instrumentation solutions.

Partners Jan Procházka (Prague) and Ilan Katz (New York) led Dentons’ legal team on the transaction. The team included Daniel Hurych, Vojtěch Novák, Adam Přerovský, Petr Kotáb, Ondřej Valeš, Blanka Crháková and Michal Pelikán (all Prague).

Commenting on the transaction, Jan Procházka said: “We are delighted that we have had the trust of GeneProof´s founders to advise them both in the US and the Czech Republic on this transaction.  This deal is part of the inspirational story of two Czech entrepreneurs, who have developed unique technology and know-how and now have taken another bold step to achieve their vision.”

Radek Horvath, the CEO of GeneProof, said: “We were grateful to have Dentons by our side. Their overall performance and cooperation across borders was stunning and I believe they were vital for the success of the transaction.”

ARX Equity Partners (“ARX”), a Central European lower-mid market private equity firm, today announces the completion of the majority acquisition of Brebeck Composite s.r.o., a Czech headquartered manufacturer of composite products from carbon fiber (“Brebeck” or the ”Company”). The financial terms of the transaction were not disclosed.

Brebeck was founded in 2011 by Thomas Brebeck and Marcel Benda, in order to utilise Mr. Brebeck’s extensive track record and expertise in carbon fiber manufacturing in Germany over almost 20 years. Brebeck is now one of the leading European manufacturers of carbon fiber parts and components, used mainly in technically demanding motorsport activity and automotive applications.

In addition to its facility in Senov, Czech Republic, Brebeck also operates internationally through its wholly owned subsidiary in Deggendorf, Germany. The Company generates annual sales in excess of €10 million, with more than 160 employees. Brebeck’s customer base includes several prominent word-class players in the motorsport market, such as KTM AG, BMW AG, Porsche AG and Audi AG.

Moving forward, both founders will retain a significant minority stake in the Company and Mr. Brebeck will continue to drive the further growth and development of the business. The Company’s primary strategic focus will remain centered around servicing its blue-chip, anchor customers in the motorsport and automotive industries while also broadening its product offering to customers in the aerospace market.

Bird & Bird’s Prague office is relocating to Karlín.

After almost 15 years in the Czech market, Bird & Bird’s Prague office will relocate to Missouri Park in Karlín, Prague 8 in October later this year.

Missouri Park is part of the River City Prague urban district project developed by real estate company CA IMMO located on the banks of the Vltava River close to Florenc metro station.

“We have outgrown our current office in the Prague city centre. When looking for new premises we wanted to ensure that the new location not only suited our further growth requirements but above all reflected our core values – a dynamic, innovative, and responsible law firm. At Missouri Park we found everything we were looking for – modern tech facilities, smart energy solutions, as well as a healthy workplace for our people set in city greenery,” says Ivan Sagál, Managing Partner of Bird & Bird for Czech Republic and Slovakia.

“We are starting an exciting new chapter for Bird & Bird in the Czech market and our new office will no doubt support further development of Bird & Bird’s reputation as a strategic partner for innovative projects, often involving disruption or breakthroughs in our clients’ activities or in their sectors,” adds Vojtěch Chloupek, partner and head of the Intellectual Property practice and the Tech & Comms sector group in the Czech market.

In recent years, Karlín has become a vibrant district attracting people, as well as Czech and international companies. Continued investments and development of adjacent areas has produced closer connections with its surroundings, both with the neighbouring Štvanice island and Holešovice district, and with the newly built bridge HolKa which is due to open in spring 2023.

Bird & Bird selected architects from studio archicraft to help with the interior design of the office. Jones Lang LaSalle assisted with consulting services during the premises selection process, negotiated the terms of the lease agreement, and provided project management support.

Bird & Bird LLP is an international law firm which supports organisations being changed by the digital world and those leading that change. Over the years it has become one of the most dynamically growing law firms in the world and is renowned in the field of intellectual property and technology law. It is one of the first international law firms in the world to gain ISO27001 Information Security Management certification.

MidEuropa, the leading private equity firm in Central and Eastern Europe, is pleased to announce that Vesna Sipp has joined the firm as partner, Head of Investor Relations and member of the Investment Committee. She will be based in MidEuropa’s London office and will also lead the firm’s ESG and diversity efforts. Vesna was previously Head of Client Relations at ICG and prior to that, Managing Director at Hamilton Lane.

Managing partner Robert Knorr said: “I am delighted to welcome Vesna to MidEuropa. This is an important step in ensuring we continue to provide the highest standards of communication and service to our investors as well as introduce a senior leader to our ambitious ESG and diversity agenda.”

Senior investment partners Pawel Padusinski and Kerim Turkmen added: “Vesna already knows us well as an investor in our funds and as a long-time friend of MidEuropa. We are excited to have her on board and look forward to working with her closely.”

Dear CVCA members,

let me pass the invitation to the Poland & CEE Private Equity Conference 2022, held on the 10th of May 2022 in InterContinental Warsaw.

Top industry professionals and asset managers are gathering for the 8th edition of the Poland & CEE Private Equity Conference hosted by Private Equity Insights. They are ready for a full day of unparalleled opportunities and actionable insights, laying the foundation for future business. Meet 300+ handpicked attendees including prominent private equity investors across the CEE region, as well as global asset managers and get their groundbreaking perspectives. It is the perfect place to meet LPs, GPs, and PE/VC Target Companies.

For more details such as speakers and agenda, click HERE.

We are happy to inform you that CVCA Members are eligible for a special price. If you want to take advantage of the exclusive 30 % discount, please use the registration link: https://pe-insights.com/private-equity-conferences/poland/register/ and use the code cvcacz30 to get your discount.

Limited Partners are invited to attend the conference for free. To get tickets, reach out to sebastian@pe-insights.com.

For any inquiries, contact the organizer at sebastian@pe-insights.com.

Kind regards,

Katerina

ESPIRA Investments (ESPIRA), a CEE focused private equity investor, is pleased to announce the acquisition of a majority shareholding in Premier Clinic, a rapidly growing provider of aesthetic medicine in the Czech Republic. ESPIRA‘s investment has been made in partnership with Premier Clinic’s founder to strengthen and expand the company’s successful concept of high-quality care.

Premier Clinic offers comprehensive treatments in plastic and aesthetic surgery, corrective and laser dermatology and preventive medicine, treating Czech and international clients. In just a few years, Premier Clinic has become one of the top Czech clinics in its field with annual revenues of over EUR 4 million. The company’s management team is focused on growing the company in a sustainable and client-focused manner while delivering premium care and innovative treatments with an unwavering emphasis on safety. Furthermore, by regularly upgrading technology and equipment, clients are able to achieve better outcomes with shorter recovery times.

The Premier Clinic medical team is headed by the esteemed plastic surgeon, Dr. Lucie Zárubová. Thanks to her and the cohesive and respected medical team, Premier Clinic is able to attract and develop young and talented plastic surgeons and specialists.

“I am pleased to welcome ESPIRA as our new partner and I look forward to embarking on the next chapter of sustainable development while leveraging ESPIRA’s experience, broad network and strong financial expertise. We see expansion opportunities in the market and ESPIRA can support us realizing such new strategic initiatives,” said Martin Frank, CEO and Founder of Premier Clinic.

“The ESPIRA team is excited to support Premier Clinic’s successful strategy and to contribute to the further acceleration of its expansion by increasing capacity to address growing market demand, broadening its treatment offering and strengthening operational excellence. Premier Clinic has proved to be a resilient and agile company which grew even during the COVID-19 pandemic, and this is very encouraging,” said Emília Mamajová, Founding Partner of ESPIRA Investments.

ESPIRA was advised on the transaction by a legal team of Konečná & Zacha. The terms of the transaction were not disclosed.