"BIZNES meble.pl" international 1/2018

industry X analysis 22 BIZNES meble.pl [ international edition 1/2018 S pectacular acquisi- tions on the Polish market made by the furniture giant – Schieder Möbel Holding are quite distant from today’s perspective. It has already passed more than 10 years since the bankruptcy of the German holding in June, 2007. Last decade brought an increase in the number of M&A transactions in Poland, but not necessarily among fur- niture manufacturers. Surely it can be noticed that in case of takeovers in the furniture industry, Polish companies are no longer present only in the role of taken over but also as taking over. Ad- dtionally, there are also acquisitions of foreign companies by Polish companies. But is it enough to talk about a new era of mergers and acquisitions? CAPITAL + EXPERIENCE It is worth noting that investment funds play an increasingly impor- tant role in transactions on the Polish market. Examples are easy to find. Ac- cording to earlier announcement, on the 6th of July 2017, the sale transac- tion of the majority of Profim shares to Innova Capital private equity fund was finalized. As a consequence, there have been changes in the Management Board of Profim. The previous CEO, Ryszard Rychlik, has taken the post of the Chairman of the new Supervisory Board whilst Piotr Chełmiński, who has years of experience in managing Polish and foreign enterprises, including sup- pliers for the furniture industry, is the newly elected CEO at Profim. The new Board of Directors includes also Lu- kasz Meissner and Marcin Porada. The newly elected Board of Directors will continue to develop Profim’s current operations, strengthening its position in the office seat segment in Poland as well as abroad. We are very proud that we have become a majority shareholder in such promising company as Profim – says Andrzej Bartos, Senior Partner Innova who monitored investment. – As a part of our strategy, we invest in companies that are leaders in their respec- tive industries, which are the flagship of Poland abroad. We appreciate great success that the com- pany has achieved over the past 26 years, including in particular taking a leading position in the Polish market and the success of promoting its own brand in Germany. We want to assist the company in implementing ambitious development plans on very promising export markets cooperating with its founders. This type of cooperation is one of Innova Capital’s specialty. Ryszard Rychlik, Chairman of the Supervisory Board of Profim, empha- sizes that cooperation with Innova Capital is a great opportunity for the company to achieve its goals with a professional partner. Fur- ther product innovations, build- ing the value of Profim’s export and fast entering other foreign markets require capital and experience. – points out Ryszard Rychlik. – That’s why we see great value in Innova Capital’s involvement at this stage of busi- ness development. INTERESTING FOR FUNDS The influx of for- eign investors into Poland, including new funds, is the re- The main factor distinguishing furniture industry in Poland from other sectors is the large share of domestic capital. Will it change in the future due to the large interest of foreign funds?Will Polish furniture manufacturers start taking over European brands in order to build their competitive advantage? There are still many questions to answer, so different scenarios are possible. New era of mergers and acquisitions A n n a S z y p u l s k a THE FUNDAMENTAL CHANGE IS OPENNESS TO INVESTMENT, WHICH HAS HELPED US TO DEVELOP FURTHER –bAND THERE HAVE BEEN MANY CHALLENGES IN THE LAST FOUR YEARS. THE OPENNESS TO INVESTMENT, IbMENTIONED BEFORE, RESULTED IN THE ACCEPTANCE OF THE PREPARED BUSINESS PLAN AND THE LAUNCHING PRODUCTION OF FINISH FOIL IN E’K. Dariusz ¥wiÈtek, Impress Decor Polska. THE CONSOLIDATING OF OUR EXPERTISE WITH PAGED’S EXPERIENCE IN FURNITURE PRODUCTION HAS HELPED US TO LEVERAGE OUR POTENTIAL AND TO BRING OUR SERVICES TO EVEN HIGHER LEVELS. Mateusz Laskowski, member of the Forbis Group Board.

RkJQdWJsaXNoZXIy ODEyNDg=