PE in CEE - PBKM (Famicord Group)
Country: Poland
Europe’s leading stem cell bank
COUNTRY | Poland | RETURN | 8.1x |
GP | Enterprise Investors | GROWTH | 4.7x the number of the stored units |
INVESTMENT | EUR 4.3 million |
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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 |
Investment rationale
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
enhanced profitability.
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.
