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MCI Newsletter #1/20
 
    New year, new plans and targets.

Thank you for being part of our e-community and following MCI.

We are happy to share with you the highlights of 2019, as well as draft some of the plans we have in mind for the upcoming quarters.
 
 
 
    2019+
  EUR 162 M   73%  IRR
partial exit from Nertisk
and co-investment with
TA Associates
 
  12%
net debt-to-asset
ratio,
lowest in history

20 years of MCI
Anniversary Gala
- 20 years of MCI


2.8x CoC
exit from Polish
e-grocery leader
- Frisco.pl
 
  15 observations
15 observations you must know about PE for 2020 (external)
 
 
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EXITS

It has become almost a tradition that the turn of a new year is the most active exit period for MCI. We have just recently completed three such transactions: Frisco.pl in Poland, Netrisk in Hungary (partial exit) and Index in Turkey.

Together with other exits finalised in 2019, the total was EUR 210 million for our funds.

   
   

PARTIAL EXIT FROM NETRISK
TO TA ASSOCIATES
 
 
We have partially exited from Netrisk, with 73% IRR on cash consideration only to total acquisition coston the transaction and 3.0x CoC on cash consideration only to total acquisition cost. We currently own almost 24% of the shares, and will still play the role of an active investor in the company. Partnering with a global brand, such as TA Associates, is a great opportunity for the company to become a true regional digital leader thanks to a significant increase in the scale of operations.

 
Read more →

 
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EXIT FROM #1
POLISH e-GROCERY

The Eurocash Group is to purchase shares in Frisco S.A., the leader of the Polish e-grocery market. Our funds record a total return of 2.8x CoC (cash-on-cash).

Infographics →
Read more →
   
   

20 YEARS OF DIGITAL
PRIVATE EQUITY

In 2019 we also celebrated our anniversary
– for the past 20 years we have been active
in the digital investments market. But the best
is yet to come.

It’s hard to write down all the kind words
we received from your guests at the Gala,
so we will just direct you to the highlights video:

Gala video
20 years - promo video
20 interviews with top managers
on the digital economy
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BONDHOLDER REVENUES
 
 
In a number of tranches of bonds repaid in 2019, MCI Capital returned PLN 75.1 million to its bondholders.

We are currently working on the diversification of financing sources – our target structure in the context of financing MCI and the funds in which we are an investor would be one in which 50% of the debt comes from foreign investors and 50% from domestic investors, based on banking and bond products.

 
Read more →

 
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FIRST BUYOUT
INVESTMENT – ABC DATA –
SUCCESSFULLY EXITED

ABC Data S.A., the first buy-out investment from the MCI.EuroVentures portfolio, was sold to one of the European IT distribution tycoons – ALSO Group. The managers of the fund delivered in excess of a two-times return on investment.

Read more →
   
  DIGITAL SHAPERS
2019 AWARDS


Tomasz Czechowicz, for the second year running, was awarded by Digital Academy in the category of Investments with the title of Digital Shaper as part of the Digital Festival.

Digital Poland Website →
MCI Website →
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PRIVATE EQUITY MARKET
 
 
The role of the private equity market is ever-growing, and has become an obvious fact to many. Still, we believe that the influence of PE on the macroeconomy can be even more significant. For growth in this area to be achieved, we need to educate and share market knowledge.

With this in mind, we have decided to share with you three different external materials that are worth reading and provide an insight into the PE sector from a broader perspective.

 
1. The world of private equity – 15 key observations

2.

An Invest Europe report on private equity activity in Central and Eastern Europe

3.

Private markets come of age: McKinsey Global Private Markets Review 2019


 
    MCI Capital S.A. office@mci.eu
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Disclaimer:
Assets under management refer to assets of close-end investment funds created and administrated by MCI Capital TFI (the Funds). Investments portfolios of the Funds are managed by Private Equity Managers Sp. z o.o. - being a part of Private Equity Manages S.A. Capital Group. MCI Capital is a main investor in the Funds.

 
 
 

This presentation has been prepared with due diligence. However, it may contain certain inaccuracies or omissions. This presentation cannot be regarded as a comprehensive financial analysis of the PEM S.A. Capital Group, MCI Capital S.A. or MCI Capital TFI nor does it provide a complete view of its financial position and future prospects. Any person who intends to make an investment decision should first consider the information disclosed in the official financial statements and current reports prepared and published in accordance with applicable laws. This presentation has been prepared for information purposes only and does not constitute an offer to buy or sell any financial instrument.

 
 
 

This presentation may contain projections, but these cannot be treated as a reliable indicator of future performance mentioned before capital groups. Statements regarding future and historical financial results do not guarantee that such results will be achieved in the future. Expectations are based on current knowledge and depend on a number of factors and variables that may cause significant differences between the results presented in this document and those actually achieved.

 
 
 

The capital groups, the management board members and directors will not be responsible for any consequences that may arise from the use of this presentation. None of the information contained in this presentation represents a commitment or representation on the part of capital groups., its management board members or directors. There is no obligation to publish corrections or update the forward-looking statements contained in this presentation to reflect changes occurring after the date of this presentation.

 
 
 

The presented information on the Funds is not and cannot be treated as an offer to purchase investment certificates, nor to propose to subscribe for investment certificates, nor do they constitute an offer within the meaning of art. 66 of the Civil Code. The issuance of investment certificates of the Funds will take place only through the proposals to subscribe for investment certificates addressed to less than 150 personally indicated persons. The conditions for the issue of investment certificates and the Funds' articles of association are the sole source of information about the offer of investment certificates, the Funds, its investment policy and risk factors related to investing in investment certificates. The content of these documents will be made available to persons to whom the proposal to acquire investment certificates will be addressed. This material is for promotional purposes only and does not constitute an offer or recommendation to conclude a transaction to buy or sell any financial instrument. The information provided cannot be treated as an investment advisory or other advisory service, including the provision of legal assistance.