Today, Value4Capital announced the completion of the previously announced sale of its portfolio company home.pl to United Internet’s subsidiary 1&1 Internet SE, following receipt of the unconditional consent for the transaction from the Polish Office of Competition and Consumer Protection.
The V4C Eastern Europe Fund and Alpha Associates had invested in home.pl in February 2012 taking a controlling interest alongside the company’s original founders and its Chief Executive Officer, Marcin Kuśmierz. The deal was also backed by Syntaxis Capital as mezzanine provider and included senior debt facility from mBank. Advisors to V4C in the transaction were CMS Cameron McKenna, EY and ING Securities.
Since 2012, home.pl has strengthened its position as a leading provider of cloud-based services in Poland and Central & Eastern Europe focused on small and medium businesses while significantly increasing its sales and profitability. The exit generated a cash return of 3.4x on the investment for V4C.
Piotr Misztal and Rafał Ałasa were responsible for this investment on V4C side.