|GP||Enterprise Investors||GROWTH||4.7x the number of the stored units|
|INVESTMENT||EUR 4.3 million|
|SECTOR||Stem cell banking||INVESTMENT TYPE||Buyout and Growth|
|INVESTMENT||November 2009||FUND OWNERSHIP||58.3% (max. stake)|
|EXIT||June 2017||EXIT ROUTE||Public markets|
PBKM, known internationally as Famicord, collects, processes and stores cord blood stem cells and other biological material used in life-saving transplants and experimental therapies. Interest in such services in Poland was expected to surge and PBKM, as market leader, was well positioned to benefit. The company was also an attractive platform for consolidating the European market through add-on acquisitions. Its unique subscription-based business model allowed for strong topline growth and
Deal history and structure
PBKM’s shareholding was highly dispersed. Enterprise Investors (EI) invested in a capital increase and buyout of two of the 13 individual shareholders, and further increased its holding by redeeming some minority shareholders, securing a 50%+ stake. Together with the four founders who co-invested in the deal, EI controlled over 80% of the company.
The report offers an in-depth study of private equity’s role in innovation and economic development across Central and Eastern Europe through detailed case studies of companies backed by private equity investors during 2015-2019.
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