NEWS

Innova Capital, a leading private equity fund in Central and Eastern Europe, has confirmed the first close of its Innova/6 fund at EUR 194m, thereby significantly exceeding the minimum target of EUR 150m. At the same time, within twelve months up to the first close, Innova has achieved as much as 60% of the hard cap set out at EUR 325m.

Innova Capital, a leading private equity fund in Central and Eastern Europe has executed another transaction pertaining to this portfolio company. As its majority shareholder, the fund has made a strategic decision regarding Profim's further growth. This leading Polish manufacturer of office chairs is to join the Norwegian Flokk Group, which ownsa host of reputable office furnishing brands. As a result of this transaction, Innova will become Flokk's largest minority shareholder.

Jarosław Mikos has been appointed as the new President of the Management Board of Polskie ePłatności SA. Janusz Diemko resigned from the position after eighteen months of managing the company.

Innova Capital, a leading Central European private equity fund, is to acquire a 75% stake in Inelo and OCRK, a leading technology-based player active in drivers' work time management systems for the transportation industry. As a result of this transaction, the fund will also gain exposure to the attractive telematics space.

Netsprint Group, a Polish leader of technology marketing, has appointed a new President of the Management Board. Starting from November 2017, the Group will be headed by Monika Bronowska, a specialist with more than 17 years of experience in the media and marketing industry. She will supersede Artur Banach, who will take up the position of Chief Strategy Officer.

The Next Economic Powerhouse? Poland - The New York Times - Ruchir Sharma JULY 5, 2017