TEP Capital invests in Nicator

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21 January 2021

TEP Capital invests in Nicator

TEP Capital, a Polish private equity investor, announced that it has entered into an agreement to acquire an enterprise of Nicator sp. z o.o. sp. k. (“Nicator” or the “Company”) from its Founders and family members. The acquisition will be executed by Nicator Films sp. z .o.o., a special purpose vehicle controlled by TEP Capital.  

Nicator is a leading Polish polyethylene film manufacturer. It operates in a modern BRCS-certified production facility close to Warsaw. Around 80% of Nicator’s products are exported to Western European business clients. The Company generated around PLN 90 million sales in 2019. Nicator was founded in 1988 by its current owner and president, Leszek Uba. Together with TEP Capital, Mr. Uba will continue leading Nicator in the next phase of the Company’s growth.

Nicator’s products play a crucial role in a food products value chain by guaranteeing hygiene standards for food packaging and ensuring production safety. Nicator’s films are produced with the use of best recyclable mono-materials that are formed into market thinnest films. We expect that high ecological awareness of food producers and distributors will further increase demand for Nicator’s products.

We are happy that Leszek Uba has given us the confidence to continue his life's work. We would also like to thank Mr. Uba very much for the trust-building and solution-oriented discussions surrounding the negotiations and his support to be able to lead Nicator in the  successful future.

We are also happy to announce that within the first twelve months of our operations as TEP Capital, we were able to execute our first investment. In many ways the Nicator deal epitomizes an important leg of our investment strategy, which is focused on Polish mid-sized manufacturers with compelling product offering that can further benefit from secular market trends. We are very excited about joining forces with Nicator’s crew and optimistic about the potential of extending Nicator’s product offering and its market reach.

said Tomasz Woźniak, managing partner at TEP Capital.

Looking back at the 33 years of successful lifetime of Nicator, I was determined to find a partner that will guarantee further expansion in the space of new product offering, new market extension and overall growth mindset for the Company. I am very glad we were able to find a partner like TEP Capital that will be able to ensure successful continuity of my lifetime project - Nicator. I am especially proud of the ecological and recyclable focus, as I believe this is a crucial aspect for the whole plastic-packaging industry going into the future.

said Leszek Uba, founder and president at Nicator.

Nicator was advised by Deloitte (M&A) and Kancelaria Krassowski (legal).

TEP Capital was advised by MJH (legal), SKJ Legal (legal) and Grant Thornton (financial and tax).