Polish private equity firm Enterprise Investors acquires bathroom retailer Wema

Warsaw-based private equity firm Enterprise Investors has acquired a 60 per cent stake in Polish bathroom retailer and wholesaler Wema for €46m. The firm made the investment from its €658m Polish Enterprise Fund VI, which closed in September 2006. Wema sells ceramic tiles, bathroom sanitary ware, bathtubs, showers and accessories through a network of 15 own stores and three franchised stores in northern and central Poland. Last year the company recorded sales of approximately €60m. Agnieszka Kowalska, partner, EI, said, 'Our investment in Wema is a typical EI transaction in that we will become shareholders of the company alongside private entrepreneurs. The founders gave up control and kept a minority stake in the company as they feel confident that we have the experience and expertise to substantially support Wema's... [read full story]