Anwis, which makes custom window coverings and related components in Poland and Germany, had sales of €22.6m in 2013.
ARX said it hoped to strengthen the company’s position on those markets as well as help it expand into France and the Benelux countries.
Jacek Korpala, co-managing partner at ARX, said, “Anwis is great illustration of the succession driven dealflow opportunity in CEE, and another example of ARX providing a tailored transaction solution to a retiring founder while partnering with a seasoned and entrepreneurial buy-in manager.
“We look forward to supporting the company in the next phase of its growth.”
The deal follows ARX’s acquisition of Gramex, a Hungarian manufacturer and bottler of non-alcoholic beverages, earlier this year, and the full exit of its investment in Polish plastics processor, Ergis Eurofilms in December 2013, which generated an overall IRR of over 33 per cent and a 4.5-times cash-on-cash multiple.
Copyright © 2014 AltAssets