Avallon PE tweeks portfolio, sells Zaberda in management buyout

BGK and PKO Bank back buyout of Zaberd, a company specializing in road maintenance.

The controlling stake in Zaberda in Wrocław, operating throughout Poland, passed from the portfolio of the Avallon fund to the managers of the company.

  • “We managed to double the invested capital within six years from the purchase of the company. We are pleased that the transaction can serve as an ideal example of a successful management buyout, and we specialize in such acquisitions”, says Robert Więcławski, senior partner at Avallon.

Zaberd has been operating on the Polish market since 1992. Before Avallon, its main shareholder was the Mezzanine Management fund (currently Accession Capital Partners), which in 2005 granted the company debt financing for the acquisition of a smaller competitor and then increased commitment. Now the control is taken over by a group of five managers headed by President Paweł Zawadzki, who founded Zaberd nearly 30 years ago.

  • I was the main shareholder of the company in the past, but then the fund bought a controlling stake. When Avallon entered Zaberdu, along with other managers, I thought that in a few years we would sell minority packages to another investor, however, we managed to become a leader in the road maintenance market and together with the team we decided to invest our own money and use the support of BGK and PKO banks BP to buy the company and develop it further – says Paweł Zawadzki.

Zaberd is Avallon’s first exit from the investment since the beginning of the pandemic. Tomasz Stamirowski, managing partner of the fund, announced in February that Avallon could enter at least three companies this year and at the same time sell four or five. More than EUR 90 million is available for new investments, raised in the last two years under the third fund. Part of this money has already gone to the acquisition of the cleaning products company Clovin at the end of 2019.

Meanwhile, in Avallon’s portfolio after the sale of Zaberdu, there are eight more companies, bought as part of the second fund, since 2012: Ceko and Wosana food companies, Stangl Technik (providing installation services), as well as cosmetics and packaging MPS International, marketing EDC Expert, IT Marketplanet and polymer Novo Tech. In two cases, a competitive sales process has already started.


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