Innova Capital

Innova Capital is a mid-market private equity firm headquartered in Warsaw, Poland, with additional operations in Bucharest, Romania. Established in 1994, it was the first firm to raise a major private capital fund in Central and Eastern Europe. Over the years, Innova has invested nearly €500 million across 40 companies in ten countries within the region. The firm focuses on middle-market companies with enterprise values typically ranging from €50 million to €125 million. Its investment strategy includes both majority and minority stakes, targeting sectors such as technology, healthcare, consumer goods, and manufacturing. Innova typically holds investments for three to five years, with exit strategies involving sales to strategic investors or initial public offerings. The firm received the CEE Fund of the Year Award in 2010 for its fifth fund.

Andrzej Bartos

Senior Partner

Robert L. Conn

Founding Partner

Lukasz Cyran

Director

Marcin Drozdowski

Managing Director

Gabriela Dumitru

Investment Director

Marcin Goszyk

Investment Director

Tobiasz Jankowski

Managing Director

Katarzyna Kaczmarek

Manager of Investor Relations

Magdalena Magnuszewska

Partner

Felipe Moraes

Partner and MD

Leszek Muzyczyszyn

Senior Partner

Magdalena Pasecka

Partner, CFO

Andrzej Pietrzak

Managing Director

Mariusz Pietrzak

Associate

Amanda Pinheiro

Partner

Joanna Simonowicz

Managing Director

Sebastian Teter

Managing Director

Maury Ueta

Associate

Paweł Wojas

Associate

Michal Wojdyla

Managing Director

Ismael Zamoner

Associate

Anna Zientkiewicz

Associate

67 past transactions

Movile Internet Móvel S/A

Private Placement in 2018
Movile Internet Móvel S/A develops mobile content and commerce platforms in Latin America. It develops apps in various platforms for mobile phones, smartphones, and tablets, including games, online education, and entertainment apps for adults and kids. Movile was formerly known as Compera nTime. The company was founded in 2000 and is based in Campinas, Brazil with additional offices in Rio de Janeiro and São Paulo, Brazil; Mexico City, Mexico; Buenos Aires, Argentina; Bogotá, Colombia; Caracas, Venezuela; and Sunnyvale, California.

Oresa

Acquisition in 2007
Oresa is present in Central and Eastern Europe through private-equity investments since 1995. Our owners and investors are a Swedish entrepreneurial family. They have instilled in Oresa a strong culture of openness, fairness and trust, as well as a great deal of respect for visionary entrepreneurs and managers. Our current core market is Romania, where we hold majority or significant stakes in a broad portfolio of companies. Over the years, we have invested more than EUR 150 million in equity in over 25 companies. EUR 100 million in equity were invested in Romania alone.

CS Group

Acquisition in 2019
Cs group provides analyze, advise, design and implement integrated online campaigns, helping Polish companies reach the largest group of customers.CS Group Polska SA, is the owner of the pkt.pl brand, the ClearSense Interactive Agency and the E-Marketing Academy, supports small and medium-sized enterprises by offering integrated services and marketing activities conducted in search engines, using all available channels and observing industry rules.

Jampp

Series A in 2015
Jampp is the growth platform of choice for on-demand apps worldwide. We unlock programmatic advertising to drive incremental performance. A demand-side platform (DSP) at heart, Jampp leverages unique contextual and behavioral signals to deliver customers and in-app purchases through programmatic user acquisition and retargeting. We simplify programmatic growth for some of the biggest names in mobile. Learn more at: https://jampp.com/

La Fantana

Acquisition in 2007
La Fantana is the bottler and distributor of spring water for offices in Romania and Serbia. The company supplies a network of more than 100,000 bottled water-coolers as well as tap-fed POU units installed across both countries.

NEOMEDIC

Acquisition in 2012
NEOMEDIC provides obstetrics, neonatology, and gynecology care services through its hospitals in Poland. It has the largest in Poland network of hospitals with obstetric-gynecological profile located in the south of the country (Kraków, Nowy Sącz), in which about 7,000 children come to the world every year.

Town & City

Acquisition in 1997
Town & City (now News Outdoor Poland) was established in 1994. is a provider of media services.

LabelProfi

Acquisition in 2021
LabelProfi is offering flexible label and packaging solutions.LabelProfi provides high-quality printing services, with very short turnaround times and can produce very small volumes, which are often not cost-effective in conventional printing technologies, Innova said. The share of exports in 2020 was more than 30%, as the majority went to German-speaking countries.

Grupa Wirtualna Polska

Private Equity Round in 2014
Grupa Wirtualna Polska S.A. owns and operates Internet portals. The company operates websites for e-commerce, video broadcasting, browsing on mobile devices, content portals, and email websites.

Profim

Acquisition in 2017
Profim is a manufacturer and producers of office seating in European market. Our current position is attributed to many years of consistent work and constant development of the company. For 25 years we have been manufacturing products which meet the highest standards in terms of ergonomics, quality and design. As a team we are aware of the huge impact that our seats have on the health, wellbeing and work comfort of users. The more pieces of furniture we provide for offices, open space facilities, waiting rooms, front desks, hotel halls or conference rooms the more responsible we feel for their functionality and reliability.

Optiplaza

Merger/Acquisition in 2019
Optiplaza S.R.L. retails optical products. The company retails optical frames, sunglasses, and contact lenses. It offers its products through stores and online website. Optiplaza S.R.L. was incorporated in 2003 and is based in Brasov, Romania.

Emitel

Private Equity Round in 2011
Emitel is the leading terrestrial radio and TV broadcast infrastructure operator in Poland. Services provided by us are divided into three groups: radio, TV and communications. Our services are characterized by the highest quality, innovative solutions, and the newest technologies. We are the country leader in digital radio and TV and development of services based on the state-of-the-art wireless systems. Emitel is dynamically getting into Ethernet and IP-based services such as Virtual Private Networks, Internet Access, Content Delivery or Digital Signage. Our offer also includes the designing and installation of radio diffusion and radio communications systems with related technical consulting, as well as leasing infrastructure to broadcasters and operators.

Mediplast

Private Equity Round in 1996
Mediplast was one of the largest Polish producers of plastic garden furniture and household products.

KidsPlay

Acquisition in 1997
KidsPlay was Poland’s first family entertainment center (“FEC”) focused on families with children of twelve or under.

97.45% shares in Trimo d.d. and 44.9% shares in Trimo MSS, d.d.

Merger/Acquisition in 2015
97.45% shares in Trimo d.d. and 44.9% shares in Trimo MSS, d.d. represents the combined operations of Trimo d.d. and Trimo MSS, d.d. in their sale to Innova Capital Sp. z o.o. Trimo d.d. and Trimo MSS, d.d. provides steel buildings, roofs, facades, steel constructions, containers, and sound-proof and insulation systems. The companies are based in Slovenia.

Atomic Media

Private Equity Round in 1997
Atomic combined interests in leisure and media. In leisure, Atomic was developing the only chain of family entertainment centers in Poland.

Profim sp. z o.o.

Merger/Acquisition in 2017
Profim sp. z o.o. manufactures office seats. The company was founded in 1991 and is based in Turek, Poland. As of February 28, 2019, Profim sp. z o.o. operates as a subsidiary of Flokk AS.

Expander Polska

Acquisition in 2010
Expander Advisors Sp. z o.o., financial intermediary company, provides personal financial advisory services for customers in Poland. It offers services related to loans and financing, investments and savings, Insurance, and products for companies. The company was founded in 2000 and is based in Warsaw, Poland. As of July 3, 2015, Expander Advisors Sp. z o.o. operates as a subsidiary of Aviva plc.

Bakalland

Acquisition in 2014
Bakalland provides various food products primarily in the Poland market. It offers dried fruits and nuts, snacks, cake fillings, breakfast products, and bars under the brand names of Bakalland, Orico, and Mr. Breakfast.

Empik Media & Fashion S.A.

Private Equity Round in 1998
Empik Media & Fashion Spólka Akcyjna engages in retail and wholesale businesses in Poland.

Optiplaza

Acquisition in 2019
Optiplaza S.R.L. retails optical products. The company retails optical frames, sunglasses, and contact lenses. It offers its products through stores and online website. Optiplaza S.R.L. was incorporated in 2003 and is based in Brasov, Romania.
Drukarnia EMBE PRESS S. Bezdek, M. Mamczarz sp. z o. o. prints and supplies labels and flexible packaging for the beverage and food industry. It provides flexo printing services, including printing of labels and packaging used on self-adhesive films, shrink sleeves, coatings, wrap around labels, aluminum lids, biaxially-oriented polypropylene (BOPP), polyethylene teraphthalate (PET) lids, metallized, transparent, and self-adhesive paper; offset printing services, such as printing of labels, calendars, posters, folders, cards, catalogs, and leaflets; post-press services, including roll-to-sheet, bonding and trimming, die cutting, rolling, and label packaging; and pre-press services. The company was incorporated in 1989 and is based in Lublin, Poland.

Polskie ePłatności

Acquisition in 2016
Polskie ePlatnosci (“PeP”) is the payment processor delivering the innovative business services, providing support for payment transactions using payment cards and terminals in retail outlets.

OSHEE

Private Equity Round in 2018
OSHEE Polska SP. z o.o. produces energy drinks. The company was founded in 2008 and is based in Krakow, Poland.

OPTIblu

Acquisition in 2019
OPTIblu is one of the main retailers of media coverage in Romania. An extension of the Sensiblu brand - the pharmacy chain, then developing into a network of stores with its own marketing strategy, adapted to the demands of a different, increasingly complex market. At OPTIblu, we look at the purchase of a pair of glasses both from the aesthetic perspective and from the medical perspective, offering a pleasant experience and the memorability of each client.

Movile Internet Móvel S/A

Private Placement in 2018
Movile Internet Móvel S/A develops mobile content and commerce platforms in Latin America. It develops apps in various platforms for mobile phones, smartphones, and tablets, including games, online education, and entertainment apps for adults and kids. Movile was formerly known as Compera nTime. The company was founded in 2000 and is based in Campinas, Brazil with additional offices in Rio de Janeiro and São Paulo, Brazil; Mexico City, Mexico; Buenos Aires, Argentina; Bogotá, Colombia; Caracas, Venezuela; and Sunnyvale, California.

Netsprint

Private Equity Round in 2016
Netsprint is a dynamically developing new technology company. The company was established in 2001 and specializes in technology solutions that support internet marketing. It provides solutions for the largest Internet companies on Europe’s key markets.

Carman

Acquisition in 1999
Carman went into bankruptcy in 2004. It provides quick-fit services.

CS Group Polska S.A.

Private Placement in 2019
CS Group Polska S.A. offers online marketing and web presence management services to companies in the small and medium enterprises sector. The company was founded in 2006 and is based in Warsaw, Poland.

KH Logistyka Sp. z o.o. and PEK Holdings S.à r.l.

Merger/Acquisition in 2015
KH Logistyka Sp. z o.o. and PEK Holdings S.à r.l. represents the combined operations of KH Logistyka sp. z o.o. and PEK Holdings S.à r.l. in their sale to Innova Capital Sp. z o.o. KH Logistyka sp. z o.o. provides logistics services. KH Logistyka sp. z o.o. is based in Poland and PEK Holdings S.à r.l. is based in Luxembourg.

OSHEE

Merger/Acquisition in 2018
OSHEE Polska SP. z o.o. produces energy drinks. The company was founded in 2008 and is based in Krakow, Poland.

75% of Inelo Stocerz Sp.J. and 75% of OCRK Sp. z o.o.

Merger/Acquisition in 2017
75% of Inelo Stocerz Sp.J. and 75% of OCRK Sp. z o.o. represents the combined operations of Inelo Stocerz Sp.J. and OCRK Sp. z o.o. in their sale to Innova Capital Sp. z o.o. As of October 24, 2017, 75% of Inelo Stocerz Sp.J. and 75% of OCRK Sp. z o.o. was acquired by Innova Capital Sp. z o.o. Inelo Stocerz Sp.J. develops software and electronics for the transport industry. OCRK Sp. z o.o. provides outsourcing services for analysis and accounting of drivers' working time. The companies are based in Poland.

Netsprint

Merger/Acquisition in 2016
Netsprint is a dynamically developing new technology company. The company was established in 2001 and specializes in technology solutions that support internet marketing. It provides solutions for the largest Internet companies on Europe’s key markets.

CheMeS

Acquisition in 2019
CheMeS is a modern printing company specialised in the production of self-adhesive labels, shrink sleeves and laminate tubes that has been operating for 25 years. The work and the passion have made this modest family investment transform into a powerful enterprise that achieves significant successes. CheMeS is a continuously developing company, investing in people and technologies whilst introducing new solutions. The only thing that remains intact is passion and a true working ethos so immanent in the Wielkopolska region.

Liberty Poland S.A.

Private Equity Round in 2001
Liberty Poland S.A. retails electronic top-ups for pre-paid cards and cellular phones through its shops in Poland.

Inelo

Acquisition in 2017
INELO is the leading European manufacturer of top-quality driver analysis and billing software, digital data acquisition equipment and GBOX® satellite location systems. The company was launched in 2002 with the revolutionary TachoScan® driver analysis program, which has been consistently the best program of its kind in the market over many years.

Pekaes S.A.

Acquisition in 2015
PEKAES Sp. z o.o. provides logistics services worldwide. The company’s service portfolio includes warehouse logistic services, as well as domestic, international, sea, and air freight forwarding. It also offers contract logistics and rail forwarding services; operates two fuel stations; and operates ferry crossings, as well as provides customs services. PEKAES Sp. z o.o. was formerly known as Pekaes SA and changed its name to PEKAES Sp. z o.o. in June 2017. The company was founded in 1958 and is headquartered in Blonie, Poland.

Phoenix Privatisation Partners

Acquisition in 1996
Phoenix Privatisation Partners provides financial and business services. It offers opportunity in voucher privatization. Phoenix Privatisation Partners is based in Poland.

Meritum Bank

Acquisition in 2007
Meritum Bank offers a wide range of banking services to individual customers and to small businesses with up to PLN 10m annual turnover.

STX Next

Private Equity Round in 2020
STX Next sp. z o.o. designs and develops digital solutions in the Python programming language. It offers end-to-end development, team extension, and consulting services in the areas of web and mobile development. The company offers services, including Python development, JavaScript development, React Native development, machine learning, data engineering, DevOps, product design, software testing, quality assurance, product strategy, and discovery workshops. STX Next sp. z o.o. was incorporated in 2002 and is based in Poznan, Poland with additional offices in Wroclaw, Pila, Gdansk, and Lódz, Poland; and Hague, the Netherlands.

PayPoint Romania

Acquisition in 2020
PayPoint is a Romania-based market consumer payments operator that allows clients access to even safer, quicker and easier payments. Their mission is to lead the market in the provision of products to consumer service companies and retailers, through innovative solutions and first-class service. Over the last 5 years, PayPoint Romania established itself as an undisputed leader of the OTC bill payment market in Romania. It was founded in 2008 and is based in Bucharest, Bucharest.

Donako

Acquisition in 2006
Donako manufactures and supplies components and tools for production of electrical machines. It offers punching dies and press tools, cutting tools, assembly and production process accessories and tooling, and moulds for producing winding coils of electrical machines; and process tooling for construction of large output electrical machines.

Benestra

Acquisition in 2008
As of January 1, 2019, Benestra, s.r.o was acquired by SWAN, a.s.. Benestra, s.r.o provides telecommunication services. The company was formerly known as GTS Slovakia, s.r.o. and changed its name to Benestra, s.r.o in December 2014. The company was founded in 1993 and is based in Bratislava, Slovakia.

Libet

Acquisition in 2010
Libet manufactures and sells sett and other concrete surfacing materials in Poland. The company’s products include pavement blocks, blasted-brushed surfaces, upholstered surfaces, washed surfaces, single color spaces, unique surfaces, terrace tiles, complimentary elements, natural stones, classic aesthetic products, gres tiles, and facade products.

Benestra

Venture Round in 2014
As of January 1, 2019, Benestra, s.r.o was acquired by SWAN, a.s.. Benestra, s.r.o provides telecommunication services. The company was formerly known as GTS Slovakia, s.r.o. and changed its name to Benestra, s.r.o in December 2014. The company was founded in 1993 and is based in Bratislava, Slovakia.

ACE Group

Acquisition in 2005
ace credit is a benchmark player in credit brokerage for real estate assets.

SC Optical Network SRL

Merger/Acquisition in 2019
SC Optical Network SRL operates as a retailer of a large array of glasses and eyeware products. The retail network consists in both stand-alone and shop-in-shop concepts under "Optiblu" brand with multi-brands representation and full range of optical services: optical and ophtalmological investigations, eyeglasess making and customer support. SC Optical Network SRL is based in Bucharest, Romania.

Mercor

Private Equity Round in 2006
The Mercor group is the largest manufacturer and provider of comprehensive passive fire protection systems with a well-developed sales network in Middle-Eastern Europe. We have established a leading position in the Polish, Czech, and Slovakian markets, and currently we are successfully extending our activity in the new ones.

Beverly Hills Video

Acquisition in 1996
Beverly Hills Video is a chain of video and DVD rental superstores located throughout Poland.

Trimo

Acquisition in 2015
Trimo designs and manufactures original solutions for steel buildings, façade, roofs, containers and sound, and insulation systems. It sells its products and services under its own brand across 54 countries worldwide. Trimo has established a sales network in 27 countries and has production facilities in Slovenia and Serbia. The company was founded in 1961 and is based in Trebnje, Slovenia.

PP Promotora de Vendas S.A.

Private Placement in 2018
PP Promotora de Vendas S.A. owns and operates an online consumer credit marketplace portal. The company mediates the sale of financial products between partner financial institutions and its customers on the Web. It offers financial products, including personal loans, property secured loans, vehicle guarantee loans, and payroll loans for retirees and pensioners, and public servants, as well as provides credit cards. The company was founded in 2013 and is based in São Paulo, Brazil.

GTS Central Europe

Private Equity Round in 2008
GTS Central Europe, owned by Deutsche Telekom, is the leading infrastructure-based telecommunications service provider in Central and Eastern Europe. For 20 years, we have committed ourselves to providing service excellence and value to 35,000 businesses, carriers, and government institutions. GTS has been dedicated to satisfying the telecommunications needs of businesses and institutions in the CEE region. Helping people work more effectively has enabled us to build a strong and flexible portfolio of top-quality, secure, and reliable solutions. As technology advances, GTS helps you keep pace so that you can continue to focus on expanding your business.

Ujastek

Acquisition in 2012
Ujastek provide care for women expecting their offspring from the first weeks of pregnancy until the time they are due.

Euronet Worldwide

Private Equity Round in 1996
uronet Worldwide, Inc. (Euronet) is an electronic payments provider. The Company offers payment and transaction processing and distribution solutions to financial institutions, retailers, service providers and individual consumers. Its primary product offerings include automated teller machine (ATM), point-of-sale (POS) and card outsourcing services; electronic distribution of prepaid mobile airtime and other prepaid products, and global consumer money transfer services. Euronet operates in three business segments. The Company's EFT Processing Segment provides electronic payment solutions consisting of ATM network participation, outsourced ATM and POS management solutions. Prepaid Processing Segment provides electronic distribution of prepaid mobile airtime and other prepaid products and collection services for various payment products, cards and services. Money Transfer Segment provides global consumer-to-consumer money transfer services.

Marmite

Acquisition in 2010
Based in Poland and Sweden, Marmite is Europe's leading producer (~60% share) of high quality cast marble washbasins, shower-trays and bathtubs. Over 35 years, the Company has developed innovative materials and production technologies to serve Europe's leading branded manufacturers and retailers of bathroom furniture. Marmite’s annual production capacity is 900k washbasins, 250k shower trays, and 100k bathtubs.

EnergoBit

Acquisition in 2012
EnergoBit is a supplier of services and equipment for low, medium, and high voltage electrical networks to the power sector. It was founded in 1991.

CheMeS M. Szperlinski Sp. z o.o.

Merger/Acquisition in 2019
CheMeS M. Szperlinski Sp. z o.o. provides commercial printing services in Poland. The company’s products include adhesive labels; peel and read labels; heat-shrinkable labels; and labels used to designate goods, cardboard boxes, and pallets. It offers flexographic, roll to roll screen, and typographic printing. The company also provides printing in various finishes, including gold and silver foil, lamination, holograms, adhesive side printing, undercoat printing, embossing, numbering, booklets, scratch off labels, embossed print, and ink changing color over a specified temperature. CheMeS M. Szperlinski Sp. z o.o. was founded in 1993 and is based in Sady, Poland.

Bielenda

Private Equity Round in 2020
Bielenda is a family business and was founded by the great knowledge and passion of founder Barbara Bielenda, who graduate from the Faculty of Chemistry at the University of Gdansk. Bielenda pioneered in Poland the field of producing all-natural cosmetics with natural ingredients extracted from plants. Bielenda was the first company in Poland that has used a GINKGO BILOBA extract for the production of cosmetics. Ms. Barbara discovered it in her travel researches as the perfect plant with unusual properties.
iFood.com Agência de Restaurantes Online S.A. operates a virtual food court for online food delivery needs in Brazil. Its platform allows users to connect with the local restaurants, navigate through the menu, and place orders; and restaurant owners to sell and deliver the food to their customers. The company was founded in 2011 and is based in Jundiaí, Brazil. iFood.com Agência de Restaurantes Online S.A. operates as a subsidiary of Movile Internet Móvel S/A.

OCRK

Acquisition in 2017
Ogólnopolskie Centrum Rozliczania Kierowców is a leading player handling drivers’ work time management, operating on the Polish market since 2002. It employs over 260 experts and specialists in labour and transportation law of Poland and the EU, with a vast experience in the transportation & logistic industries. OCRK, constantly monitors the legal and economic situation across the transportation industry in Europe, in order to provide the highest quality and most comprehensive services.

Great Plains Software

Private Equity Round in 1995
Great Plains Software is a provider of Microsoft Windows NT client/server financial management software for mid-sized businesses. The Company's award-winning products and services automate essential accounting functions and enhance the strategic value of financial information. The Company's products and services are sold and implemented exclusively by its extensive network of Partners throughout the United States, Canada and select international markets.

Wirecard Romania

Acquisition in 2011
Wirecard Romania offers full outsourcing of card services. The services include all card personalization and processing, ATM and POS management, monitoring and maintenance, along with loyalty programs and applications, dispute management, fraud monitoring solutions, and emergency card support (anywhere in the world) Call-center and support in implementing EMV standards in line with current trends. Wirecard Romania develops complex incentive programs designed to stimulate the card market by increasing the number of cards issued by banks and their use. The infrastructure and the range of services offered are constantly updated and developed so as to enable continuous adaptation to market requirements.

Inelo Stocerz Sp.J.

Private Placement in 2018
Inelo Stocerz Sp.J. develops software and electronics for the transport industry. The company was founded in 2002 and is based in Bielsko-Biala, Poland.