GTS Poland is to acquire a 97.5% stake in Energis Poland. The acquisition of Energis by GTS from National Grid and Bates Telecom Poland provides an exit for Innova Capital. Financial details of the transaction were undisclosed.
Innova Capital decided to invest in Energis Polska at the end of 2004 based on the company’s high growth potential and its industry. The firm’s decision to exit from the investment was driven by a strong interest from strategic investors, who have become active after Innova’s investment in Energis according to Krzysztof Krawczyk, managing director of Innova Capital.
Innova focuses mostly on B2B services and the investment in Energis Polska is within one of fund’s four favoured sectors which are: IT/telecommunications, media, financial services and commercial manufacturing. To date, Innova has committed over E80m to investments in the telecommunications sector in Central Europe.