Innova Capital

Innova Capital Sp. z o.o. is a private equity firm based in Warsaw, Poland, with an additional office in Bucharest, Romania. Established in 1994, the firm specializes in growth capital and buyouts, focusing on mid-market companies in Central and Eastern Europe, particularly in Poland, Slovakia, Croatia, Hungary, Romania, Moldova, the Czech Republic, Bulgaria, Germany, and Austria. Innova Capital does not invest in start-ups or turnaround situations but seeks opportunities in sectors such as construction, manufacturing, energy, technology, media, financial services, consumer goods, telecommunications, healthcare, and outsourcing. The firm typically invests between €5 million and €75 million in companies with enterprise values ranging from €50 million to €184 million, aiming for both majority and minority stakes. Innova Capital's investment horizon spans three to five years, with exits achieved through sales to strategic investors or initial public offerings. Over its history, the firm has invested nearly €500 million in approximately 40 companies across ten countries.

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

Katarzyna Marchlewska-Sieczek

Director

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

Silberberg Kryss, Raquel

Partner and Principal

Past deals in Cental and Eastern Europe

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.

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.

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.

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.

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.

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.

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.

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.

OSHEE

Private Equity Round in 2018
OSHEE Polska SP. z o.o., established in 2008 and headquartered in Krakow, Poland, specializes in the production of isotonic and functional beverages. The company offers a diverse range of products, including isotonic drinks, functional waters, and dietary beverages, alongside vitamin products and food items such as bars, cereal biscuits, and candies. OSHEE has positioned itself as a key player in the Polish market for energy and functional drinks, catering to the growing demand for health-oriented beverage options.

Inelo

Acquisition in 2017
Inelo is a prominent European manufacturer specializing in driver analysis and billing software, as well as digital data acquisition equipment and GBOX® satellite location systems. Established in 2002, the company gained recognition with its TachoScan® driver analysis program, which has maintained its status as a leading solution in the market for many years. Inelo's software is tailored for the transportation industry, providing tools to download, archive, and process record sheet data, driver card data, and tachograph data. This functionality helps transport companies manage their work time effectively and avoid penalties related to incomplete data.

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.

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.

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.

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.

Trimo

Acquisition in 2015
Trimo d.o.o. specializes in designing and constructing building envelope systems and modular space solutions. The company offers a diverse range of products, including steel buildings, roofs, façades, containers, and insulation systems. Its construction services cater to various sectors such as commercial, industrial, educational, and infrastructure projects. Trimo provides specialized façades and walls, including modular and insulated systems, along with roofing solutions that feature both insulated and photovoltaic options. Established in 1961 and originally known as Metal Company Trebjne, Trimo changed its name in 1971 and is headquartered in Trebnje, Slovenia. The company operates production facilities in Slovenia and Serbia and maintains a sales network across 54 countries worldwide.

Pekaes S.A.

Acquisition in 2015
Pekaes S.A. is a logistics company based in Blonie, Poland, providing a wide range of services globally. Established in 1958, it specializes in warehouse logistics, domestic and international freight forwarding, and offers sea and air transportation solutions. Additionally, Pekaes provides contract logistics, rail forwarding, customs services, and operates ferry crossings. The company has also expanded its operations to include fuel stations. In June 2017, Pekaes S.A. rebranded to PEKAES Sp. z o.o. while continuing to focus on enhancing its logistics capabilities.

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.

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.

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.

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.

Ujastek

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

NEOMEDIC

Acquisition in 2012
NEOMEDIC operates a network of hospitals and multi-specialty clinics in Poland, primarily focused on obstetrics, neonatology, and gynecology. Based in Krakow, the company is recognized for having the largest network of obstetric-gynecological hospitals in southern Poland, including facilities in Kraków and Nowy Sącz. Each year, approximately 7,000 children are born through its services, which are designed to provide comprehensive medical care for women and newborns. NEOMEDIC's offerings ensure that patients receive specialized healthcare tailored to their needs during pregnancy and childbirth.

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.

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.

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.

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.

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.

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.

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.

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.

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.

La Fantana

Acquisition in 2007
La Fantana SRL is a company based in Bucharest, Romania, specializing in the bottling and distribution of spring water for office use in Romania and Serbia. Founded in 1999, the company extracts, processes, and bottles spring water, offering a range of services including water delivery, water cooler installation, and personnel training for the effective use of these units. La Fantana also provides maintenance and service throughout the contract period. With a network exceeding 100,000 bottled water-coolers and tap-fed point-of-use units installed across both countries, the company operates factories in Talmaclu, Romania, and Mitrovo Polije, Serbia. La Fantana SRL was previously known as Aqua National before rebranding in January 2001.

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.

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.

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.

Carman

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

Empik Media & Fashion S.A.

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

KidsPlay

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

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.

Town & City

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

Mediplast

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

Beverly Hills Video

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

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.