Kruk S.A.

Transaction Background

– Kruk S.A. is the largest company dealing in small debt collection in Central Europe, purchasing blocks of unpaid customer debts from banks and large telecommunications companies.
– As Enterprise Investors, the company’s majority shareholder, was planning to list it on the Warsaw Stock Exchange, the company management wished to know its market value to establish the value of shares included in the long-term incentive plan.

Our Role

– Analyzing the company’s strengths and weaknesses with focus on its capability of continued dynamic growth in Poland and other Central European markets.
– Valuing the company using diverse methods, including DCF analysis and the market multiples method.
– Presenting recommendations related to company shares to the management of Kruk S.A.

Results

– The Kruk S.A. management obtains the agreed company shares under the LTIP.
– Kruk S.A. goes public at the Warsaw Stock Exchange.