3i Buyouts enters Central and Eastern European market with EDS
Printing business MBO marks 3i’s first buyout in CEE
3i, the European mid-market private equity company, and funds managed by 3i, today announce they have agreed to back a management buyout of Euro-Druckservice Aktiengesellschaft (“EDS”), the leading web-offset printer in the Czech Republic, Poland and Hungary, with a presence in Germany and Austria.
The deal is the first for a recently formed team within 3i Buyouts who will focus on opportunities in Central and Eastern Europe. The team is led by Stuart McMinnies, a Partner based in London. Wolf Wolfsteiner, who has worked in 3i’s Frankfurt and London offices, also joins the team, along with new recruit Zoltan Toth, who will be based in London and Budapest. Zoltan previously worked for Advent International in Budapest, where he led investments in Hungary, Poland, Bulgaria and the Czech Republic.
Wolf Wolfsteiner, who led the EDS deal for 3i commented: “EDS is an outstanding example of a fast growing business in a market that has equally exciting prospects. We are delighted to be teaming up with CEE’s pre-eminent management team in this sector.”
3i is backing the existing management team led by Christian Senff (CEO) and Dr. Alois Bauer (CFO).
Mr. Senff commented on the transaction with 3i: “In my opinion the separation of the printing from the publishing activities is a logical step that reflects the increasing development of this sector. We’re delighted by the large interest in EDS of our investors. With a strong partner such as 3i, we will implement our ambitious growth strategy.“
3i was advised by Europa Partners (corporate finance), Roland Berger (commercial due diligence), Clifford Chance (legal) and PwC (financial due diligence). Debt finance was provided by Dresdner Bank.
3i is a world leader in private equity and venture capital. We focus on buyouts, growth capital and venture capital and invest across Europe, in the United States and Asia. Our competitive advantage comes from our international network and the strength and breadth of our relationships in business. These underpin the value that we deliver to our portfolio and to our shareholders. www.3i.com
3i’s buyouts business is a leader in the European mid-market. We lead mid-market buyouts of companies valued at up to around €1bn, using insight from our local knowledge, international connections, and our sector teams.
With over €8bn of funds under management and an existing portfolio of over 65 companies across Europe, 3i Buyouts invests in all sectors, with a particular focus on media, healthcare and business support services.
3i Buyouts recently raised €5bn, representing the largest fund in Europe dedicated to mid-market buyouts.