Krokus sells heating business

Polish firm Krokus Private Equity has completed its exit of heating company Praterm by selling its remaining shares to Dalkia Poland.

Krokus invested €10m for a majority stake in Praterm. In 2004, Praterm was listed on the Warsaw Stock Exchange. In total, Krokus has generated €44m, equating to a 4.4x return and a gross IRR of 55%.