Press Releases

26^th February 2010

Business Report

1^st December 2008, 13:14

AKJ Investment I FIZ, managed by AKJ Investment TFI, purchased controlling interest of Mifam company , a leading supplier of disposable injection needles, from private equity company Riverside.

AKJ Investment I FIZ, managed by AKJ Investment TFI S.A., decided to invest in the Medical Sector – purchasing 94,19 % of Mifam shares from international private equity fund-Riverside Central Europe. MIFAM is a leading supplier of injection needles and one of the few lancets and cannula's manufacturers in Europe.The  company has been in business for over 50 years, supplying their products to the European markets, including Switzerland, Germany and Scandinavia, the USA and the Middle East. The Company generates its annual revenues of 20 mln PLN. - Investing in Mifam, we considered the sector in which the company carries out its activities. Medical & Healthcare sectors were, in my opinion, the best industries to invest in during the period of current economic slowdown, which is visible in Poland and the world– said Mr Paweł Borys, COB of AKJ Investment TFI .At the same time AKJ Investment, co-financed the Company for 4 mln PLN. Transaction amount and other parameters were not disclosed.

The company's technology and production capacity are unique, in this sector, it takes years to build up the high level of the proffesional competence . We are planning further investments in our team and new technologies, so that we are ready to fulfill the specific demands of our customers from medical sector, emphasises Mr Grzegorz Szatkowski, chief investment officer of AKJ Investments, responsible for carrying out this project. After several years of restructurisation process and modernisation investments made this year , Mifam decided to modify its production profile towards specialisation and co-production. The Strategy is to become the leading European manufacturer of cannulas and lancets for diet market and in medicine, including dentistry. The company is building the long-term partnership with leading global manufacturers of medical instruments. Our stategy is: to reorganise the current production plant based in Milanówek, further investments and we are oriented towards developing highly specialised production of lancets and cannulas for several the world's largest medical coorporation. To increase the scale business we are going to watch other companies with complementary business profiles – Mr Szatkowski says. The funds involvement in Mifam will be for 3-5 years, after which it would exit through a stock market listing or a sale to an industrial buyer.

This is the 7^th private equity investment of AKJ over the last 3 years.

Their total investments exceeded 100 milion euros, another 50 milions the group has invested in real estate.