Dallas-based private equity firm Highlander Partners has acquired Polish transfer agent services provider, ProService Agent Transferowy. Enterprise Investors‘ portfolio company Skarbiec has sold the business.
Highlander Partners to invest into the stable growth of ProService AT, the biggest independent transfer agent in Poland
Private equity investment firm Highlander Partners has acquired the leading transfer agent services provider in Poland, ProService Agent Transferowy sp. z o.o. (ProService AT), from the Enterprise Investors portfolio company Skarbiec Holding sp. z o.o. (Skarbiec). ProService AT is the leading transfer agent services provider to investment and pension funds in Poland.
Highlander Partners, an American investment firm with an active presence in Central Europe, focuses on investments in middle-market manufacturing and service companies that participate in sectors with long term growth potential. Polish ProService Agent Transferowy (ProService AT), a market leader with an excellent reputation, strong management, and “business to business” operating model, is a perfect fit for Highlander Partners.
”We decided to back ProService AT because we believe in the further growth of investments funds and the financial services industry in Poland, with which the transfer agent business is tightly linked. We expect this market to follow the Western European model where the financial services sector is robust, highly specialized and the role of the transfer agent in the value chain is critical. It may not happen in 2-3 years, but this efficient model will ultimately dominate in Poland as well. We are consistent and patient. As a firm investing private capital we do not have any specific holding period constraints. Our goal is to secure the fundamental long term growth of the company. We will bring financial stability, security and support for the management team with our strategic planning, financial analysis and incentive program expertise to develop further the ProService AT’s services and client portfolio.” – said Dawid Walendowski, Managing Partner, Highlander Partners.
ProService AT provides services to both the financial institutions offering financial products and to distributors selling those products to end-customers. Since 1994 the company has ensured the security and seamless execution of thousands of transactions daily. Staying behind the scenes, the transfer agent secures the smooth flow of transactions and the business continuity of its clients. Utilizing the effect of scale and unique competencies that combine finance and technology, ProService AT delivers advanced services cheaper, safer and quicker than any in-house department. The competitive advantage of the transfer agent is being built year after year through upgrading processes, improving procedures, developing security and quality standards, and customizing tailor made solutions for each client, a process which takes time. This approach made ProService AT a preferred transfer agent in Poland, and provides a platform for an even stronger leadership position on the Polish market in the future.
”The engagement of a professional financial investor as a partner making a long term commitment opens for us a new chapter in the ProService AT’s history of growth. Highlander Partners manages its own capital and is not linked with any financial institution or investment fund, which gives us independence. We are open for cooperation with both current and new clients, who expect us to be fully neutral and transparent. The capital we raised will be invested in improving our efficiency, simplifying procedures and optimizing products. This will positively impact the quality of services, bringing value to our clients. The real challenge will also be to expand beyond our well-penetrated market segments, where we are very strong today, and finding new groups of clients. Along with our partners from Highlander we are now finalizing the new growth strategy, keeping in mind that our most valuable asset is the reputation and trust of our current clients and partners. The new investor will help us to ensure this security and trust” – said Paweł Sujecki, President of The Management Board, ProService Agent Transferowy sp. z o.o.
“We have completed an important stage in the development of ProService that entailed its transformation from an in-house accounting department for Skarbiec investment funds into a market leader serving the largest number of funds in Poland. We will keep our fingers crossed for the company’s further success, and we trust that the good cooperation between ProService and the Skarbiec funds will continue” – said Bogusław Grabowski, President of Skarbiec Holding Sp. z o.o.
About Highlander Partners
Highlander Partners is a Dallas-based (Texas, USA) private investment firm specializing in long term investments into middle-market businesses. Established in 2004 by partners who have committed over $400 million of principal funds for direct private equity investments, the firm has a flexible and rapid decision making process free from many restrictions of typical institutional investors. The firm typically invests in companies operating in targeted industries that allow the principals of the firm to leverage their significant operating and investing experience.
Highlander Partners opened its Central European office in September 2008 to capitalize on the vibrant growth of entrepreneurship in the region by bringing its investment philosophy and experience to private equity projects in Poland and other new member states of the EU. To our business partners in Central Europe, we bring all of the competitive advantages of Highlander Partners—including flexibility, agility and long-term outlook—through a local team with many years of experience in value creation in the region. Highlander’s other equity investments in Poland are Akomex, a manufacturer of packaging products, and MEDI-System, a healthcare provider.
The acquisition of ProService is the second transaction in a row announced by Highlander Partners this month: on November 14th the investment firm announced signing a conditional agreement to acquire from WSE listed Polimex-Mostostal S.A. the assets of its medium voltage industrial transformers division based in the city of Łódź.
For more information about Highlander Partners, please visit www.highlander-partners.com.
About ProService AT
ProService Agent Transferowy Sp. z o.o. (“ProService AT”) is the leading transfer agent for the Polish market. The company offers specialized financial solutions for both Polish and international institutions, including investment funds, pension funds and insurance companies, in particular in the field of unit-linked insurance products. ProService AT offers a complete range of services, including keeping registers of participants, processing orders and requests, payment reconciliation, marketing campaigns, technology outsourcing, and supporting the clients’ distribution network providers. The company is managed by an experienced team of professionals with over 15 years of market experience. ProService AT’s high quality standards and operational procedures have been confirmed by independent audits, which granted ProService AT the ISO 9001 and ISO 27001 certificates and also ISAE 3402 compliance report, as the first transfer agent in Poland to obtain such certification.
About Skarbiec Holding
Skarbiec Holding Sp. z o.o. sells mutual funds to individual and corporate clients. The Skarbiec Group includes one of the largest independent trust fund companies in Poland, Skarbiec TFI, which manages assets of PLN 9.6 billion and has a 15-year track record in managing investment funds and dealing with the acquisition and management of funds to individual order.
The company is controlled by a private equity fund managed by Enterprise Investors.
More information about Skarbiec Holding is available at www.skarbiec.pl
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