30.09.2024
Avallon Exits Hortimex
Logo Avallon i Hortimex z hasłem inwestycyjnym
Contact for media

Joanna Wiśniewska
Marketing and PR Manager j.wisniewska@avallon.pl

PR Agency

Hagen PR
Wojciech Dziewit
wojtek@hagen.pl

September 30th, 2024, the private equity fund Avallon MBO has sold a majority stake in Hortimex. Established in 1988, this family‑owned business serves as a sales platform in Poland for global producers of advanced food ingredients, connecting them with potential clients – food manufacturers in Poland. Azelis, the multinational corporation, has acquired 100% of Hortimex shares, in this way, strengthening its commitment in Poland.

Avallon invested in Hortimex in April 2022. In the year prior to the transaction, the company had generated revenues of approximately PLN 86 million. Today, with Avallon’s active support, Hortimex is a much larger and even more profitable company.

As part of the company’s strategy, we relied on an experienced and close‑knit team led by Matthew Kowalewski, a shareholder and successor in the company. His knowledge of the market and willingness to cooperate, combined with our capital and a know‑how approach, resulted in increasingly solid financial performance, emphasizes Izabela Ciąćka, Investment Manager at Avallon MBO.We exceeded our joint financial investment goals with a clear surplus, keeping the team fully staffed, while successfully optimizing processes and gaining more footholds in the market.

Hortimex’s progress in recent quarters can be seen in the numbers: in 2023, the company recorded revenues of more than PLN 130 million, with much higher margins than just a few years ago. The company has expanded its offering with a number of new products and has established a strong presence in more categories, such as collagen. To date, the company has more than 800 active customers.

This year, Hortimex has not slowed down its offensive and growth rate – its valuation reflects this. Given the increased investor interest in the company, we decided this was an excellent time to realize a high return in a short period of time – relatively short for private equity. At the same time, this is another exit for Avallon, proving that our investments attract the attention of major global corporations. Recently, similar scenarios have played out with Wosana (Japan’s Dydo) and Marketplanet (Byggfakta), says Marcin Konarski, Partner at Avallon MBO.

Mateusz Kowalewski, CEO of Hortimex, emphasizes that the Fund’s support has contributed significantly to the company’s current success.Hortimex’s strategy of expanding its product portfolio and acquiring new partners has enabled the company to significantly increase its revenues and profitability. Avallon’s support in the area of reporting and monitoring of key operational and financial indicators has helped to take the company to a higher level. We are pleased that the efforts of the entire team have been recognized by a reputable international investor. We hope that Hortimex will continue to grow under the wings of Azelis, says Mateusz Kowalewski.

After the sale of Hortimex and earlier exits this year, including Wosana and Marketplanet, Avallon still holds seven other companies in its portfolio:

These companies include Clovin, a manufacturer of cleaning products; Norlys, a producer of premium outdoor lighting; Letniskowo, a manufacturer of mobile homes; MPPK Group, a supplier and owner of brands for dog and cat food; TES, a manufacturer of machines and electrical components used in conventional and renewable energy sectors; SAT, the owner of the S’portofino brand, a leader in premium clothing and accessories sales in Poland; and Globema, a provider of geospatial software, products, and IT services.

At the same time, Avallon is actively seeking new investments. Through the Avallon MBO III fund, it has raised a total of EUR 137 million for this purpose.

September 30th, 2024, the private equity fund Avallon MBO has sold a majority stake in Hortimex. Established in 1988, this family‑owned business serves as a sales platform in Poland for global producers of advanced food ingredients, connecting them with potential clients – food manufacturers in Poland. Azelis, the multinational corporation, has acquired 100% of Hortimex shares, in this way, strengthening its commitment in Poland.

Avallon invested in Hortimex in April 2022. In the year prior to the transaction, the company had generated revenues of approximately PLN 86 million. Today, with Avallon’s active support, Hortimex is a much larger and even more profitable company.

As part of the company’s strategy, we relied on an experienced and close‑knit team led by Matthew Kowalewski, a shareholder and successor in the company. His knowledge of the market and willingness to cooperate, combined with our capital and a know‑how approach, resulted in increasingly solid financial performance, emphasizes Izabela Ciąćka, Investment Manager at Avallon MBO.We exceeded our joint financial investment goals with a clear surplus, keeping the team fully staffed, while successfully optimizing processes and gaining more footholds in the market.

Hortimex’s progress in recent quarters can be seen in the numbers: in 2023, the company recorded revenues of more than PLN 130 million, with much higher margins than just a few years ago. The company has expanded its offering with a number of new products and has established a strong presence in more categories, such as collagen. To date, the company has more than 800 active customers.

This year, Hortimex has not slowed down its offensive and growth rate – its valuation reflects this. Given the increased investor interest in the company, we decided this was an excellent time to realize a high return in a short period of time – relatively short for private equity. At the same time, this is another exit for Avallon, proving that our investments attract the attention of major global corporations. Recently, similar scenarios have played out with Wosana (Japan’s Dydo) and Marketplanet (Byggfakta), says Marcin Konarski, Partner at Avallon MBO.

Mateusz Kowalewski, CEO of Hortimex, emphasizes that the Fund’s support has contributed significantly to the company’s current success.Hortimex’s strategy of expanding its product portfolio and acquiring new partners has enabled the company to significantly increase its revenues and profitability. Avallon’s support in the area of reporting and monitoring of key operational and financial indicators has helped to take the company to a higher level. We are pleased that the efforts of the entire team have been recognized by a reputable international investor. We hope that Hortimex will continue to grow under the wings of Azelis, says Mateusz Kowalewski.

After the sale of Hortimex and earlier exits this year, including Wosana and Marketplanet, Avallon still holds seven other companies in its portfolio:

These companies include Clovin, a manufacturer of cleaning products; Norlys, a producer of premium outdoor lighting; Letniskowo, a manufacturer of mobile homes; MPPK Group, a supplier and owner of brands for dog and cat food; TES, a manufacturer of machines and electrical components used in conventional and renewable energy sectors; SAT, the owner of the S’portofino brand, a leader in premium clothing and accessories sales in Poland; and Globema, a provider of geospatial software, products, and IT services.

At the same time, Avallon is actively seeking new investments. Through the Avallon MBO III fund, it has raised a total of EUR 137 million for this purpose.

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