We carry out investments by taking up shares or equity, bonds convertible into shares, as well as by granting subordinate loans. With regard to equity investments, we prefer the acquisition of significant minority stakes, maintaining at the same time the control over the company of existing owners.
Potential investment circumstance include, among others:
- enterprise scaling - support of development through the measures of recapitalization of the company in order to cover capital expenditures for development projects,
- funding acquisitions - granting funds for the acquisition of another entity in Poland or abroad, and
- succession - support for Polish business owners in changing ownership structure.
Potential investment projects are analyzed by the transactional team and then they are subjected to the evaluation of the investment committee, the majority of which members include independent market experts.
At the initial stage of discussions, the transactional team carries out a commercial analysis of an enterprise, involving the business model and strategy evaluation in order to understand the potential for its further growth.
The effect of PFR investments on improvement of business efficiency, increase in innovation, ability to implement new technologies and modern products, as well as increased development dynamics, is an important criterion for project evaluation.
If the transaction team confirms the compliance of a potential investment with the investment strategy, it develops a Preliminary Analysis to submit the draft project to the investment committee.
If the opinion of the investment committee is positive, the transaction team will proceed to the due diligence process. At the same time, the parties begin negotiations of transaction documentation specifying the structure of the transaction and regulating the principles of corporate governance within the enterprise.
Upon completion of the due diligence process and finalisation of the documentation, the transaction team presents the final terms of the investment to the investment committee to issue a final and binding opinion. If the opinion of the investment committee is positive, the parties will sign the transaction documentation.