DLA Piper has advised private equity fund Polish Enterprise Fund VIII, managed by Enterprise Investors, on the acquisition of a majority stake in Polish software company Software Mind from Ailleron. Konieczny Wierzbicki advised Ailleron on the transaction.
As part of the deal, Enterprise Investors will invest PLN 111 million in Software Mind by buying 26.7% of existing shares in Software Mind for PLN 40 million from Ailleron and will subsequently inject the company with PLN 71 million of fresh capital, which will increase the fund's shares to 50.2%.
Software Mind is a part of the Ailleron group, which is listed on the Warsaw Stock Exchange. DLA Piper reports that, "as part of the transaction, and subject to approval at Ailleron’s shareholders meeting, the whole division of Ailleron – Enterprise Services will be carved-out from the parent company to Software Mind."
Software Mind develops software solutions for clients from the financial and telecommunication industries. It operates out of four development centers across Poland and employs 370 IT professionals.
According to DLA Piper, “Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. Active since 1990, the firm has raised nine funds with total capital exceeding EUR 2.5 billion. These funds have invested EUR 2 billion in 146 companies across a range of sectors and exited 134 companies with total gross proceeds of EUR 4.1 billion.”
DLA Piper’s team in Warsaw included Partner Jakub Marcinkowski, Counsel Rafal Kluziak, Senior Associate Michal Gintowt, and Associates Michal Banasiak and Jakub Szczygiel.
Konieczny Wierzbicki's team included Managing Partner Michal Konieczny and Counsels Paulina Opielka and Monika Kapijas.