Warsaw (Puls Biznesu) – Royalton Partners
is satisfied with its investment in mPunkt. It wants to take part in the
consolidation of mobile distributors.
Royalton Capital Investors, a fund known in Poland for its investment in
mPunkt, the country’s biggest distributor of Plus mobile operator, is about to
launch a new fund.
“We want to invest in companies operating locally in Central and Eastern
Europe specialized in non tradable goods”, Przemyslaw Balicki, a director at
Royalton Partners said.
There are many companies in Romania, the Czech Republic and Poland applying
to the fund. However, according to its representatives, the companies are still
“The times when 8-10 times EBITDA price was attractive are over and may not
be back soon”, Marcin Benbenek, a director at Royalton Partners added.
The fund is interested in majority stakes.
It has 97 percent of mPunkt where it has been present for six years. Royal
Partners representatives say this investment is so successful that they consider
buying further stakes of mobile distributors. A possible merger is not excluded.
Today, there are eight professionals working for Royalton today, including
two managers from Poland. Nigel Williams, Roman Babka and Ivan Voblmuth manage
the fund. The first fund from the group operated in the Czech Republic in the
years 1993-96 and had USD 100m of capitalization. The next one, investing in the
years 2000-09, had USD 94.4m for its disposal. Till the year 2008, it has
tripled the value of the investment.