Central and Eastern Europe

PE exits in Central and Eastern Europe achieve third highest activity on record

2013 was a year of strong private equity exit activity in the Central and Eastern Europe (CEE) region, the third highest on record, according to the European Private Equity and Venture Capital Association (EVCA).

Unlike the previous two record years, 2013 was not dominated by one or two large disposals.
 
In addition, 88 companies were exited, the highest number in the past seven years. However, both fundraising and investment activity fell relative to 2012. Despite this, the region continues the trend seen since 2010 for a year-on-year increase in the number of companies receiving private-equity backing, which increased by seven per cent to 241.
 
EVCA chief executive, Dörte Höppner, says: “Across Europe we are seeing strength and investor interest return to the market and, whilst the numbers in this report do not currently reflect this, the CEE region is showing some underlying encouraging and dynamic trends which we expect to continue as the region benefits from Europe’s recovery.”
 
Total private equity investments into CEE amounted to EUR783 million in 2013, down 22 per cent from 2012.
 
Exits of completed investments reached EUR741 million which is the third highest level recorded in CEE.
 
Whilst buyouts continue to provide for the majority of capital invested, growth capital investments increased by 53 per cent since 2012 to EUR259 million.
 
Fundraising for the CEE region totalled EUR433 million in 2013, a decrease of 37 per cent compared to 2012.
 
“Despite the lower headline activity levels when compared to 2012, the CEE region showed some healthy trends in 2013 that bode well for the coming years.  We take confidence in these trends and encourage investors to view the CEE markets for their full potential,” says Robert Manz, chairman of the EVCA CEE Task Force.

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