ARX Equity sells Anwis stake to Novaco Invest

ARX Equity Partners has exited its investment in Anwis Sp. z o.o. Financial terms weren’t announced. Novaco Invest GmbH, a subsidiary of WAREMA Renkhoff SE, is the buyer. Anwis is a Polish manufacturer of internal and external custom-made sun shading systems. ARX said the deal generated an overall 3.3x cash-on-cash return multiple and an IRR of over 30 percent.

PRESS RELEASE

Following approval by regulatory authorities, ARX Equity Partners (“ARX”) has completed the exit of its investment in Anwis Sp. z o.o. (“ANWIS”), the Polish manufacturer of internal and external custom-made sun shading systems. The buyer is Novaco Invest GmbH, a subsidiary of WAREMA Renkhoff SE (“Warema”).

The ARX investment into ANWIS has generated an overall 3.3x cash-on-cash return multiple and an IRR of over 30%.

ARX acquired a majority shareholding in ANWIS from the retiring founder in late 2014, with the intention to leverage the company’s technical capabilities, strong domestic market position, wide product range and advanced internet-based ordering solutions in order to grow and internationalise the business. This strategy positioned the company to benefit from the fast growth of the e-commerce sector in key export markets including Germany and the Netherlands. Over the past five years, ANWIS has retained its profit margins, while consistently growing sales and more than doubling workforce headcount.

Jacek Korpala, Co-Managing Partner at ARX (CEE III), commented: “The success of ANWIS reaffirms the efficiency of Polish manufacturing operations, its technical and internet capabilities and the quality of custom-made products, which were collectively instrumental in the company’s impressive expansion in the fast growing ecommerce sector in demanding Western European markets.”

Zenon Dąbrowski, Director at ARX, commented: “During the period under ARX ownership, ANWIS improved efficiency, renewed its product portfolio, modernised production capabilities and entered the Benelux and German ecommerce channels. ANWIS is already experiencing another strong year in sales and has a broad pipeline of development projects planned for the next few years.”

(Notes to the Editor)
ANWIS is a producer of custom-made window coverings and one of Europe’s leading manufacturers for window coverings and related components. The company has been operating in the geography for over 40 years and has recently enjoyed rapid growth, with sales reaching €32.6 million in 2018, with around 50% of production exported to Western Europe. ANWIS utilises its market-leading position in Poland that has too provided a strong platform for rapid expansion of its e-commerce operations into Germany and the Benelux countries, respectively.

This ARX exit was completed via a sale to WAREMA Renkhoff SE (“Warema”), a German family office owned company divided into two divisions: Sun & Living Spaces and Plastics & Engineering, with more than 3,800 employees around the world. Warema enjoys a market leading position based on the strength of solutions it provides and innovations it develops in the sun protection segment. In both of its divisions, it places great importance on growing competencies incorporating innovative technologies.

About ARX: (www.arxequity.com)
ARX Equity Partners is a private equity firm with a 20-year track record supporting the growth and development of mid-sized companies in Central Europe. With more than € 300 million raised in four funds, ARX has become a leading private equity firm in its segment in the Central European region. Headquartered in Prague, the firm’s activities are managed by an experienced and multinational team of investment professionals, combining a wide range of international expertise plus in-depth local knowledge. These features enable our portfolio companies to realize their full potential while achieving superior returns for our investors and partner entrepreneurs. Partnering with owners, managers and other co-investors, ARX focuses on later stage growth-oriented investments, such as management buy-outs and buyins and industry consolidation transactions across all sectors.