Perfectdoor has reached an important milestone in its restructuring process.
TEP Capital, a Warsaw-based private equity fund, announces that its portfolio company Perfectdoor (the “Company”) has reached an important milestone in its restructuring process. Perfectdoor has reached a consensus on long-term financing structure with its financing bank.
Under the agreement the financing bank has agreed to modify the previous financial structure to support, together with TEP Capital, the Company’s efforts in restoring its full potential.
Since TEP acquired Perfectdoor in October 2022, the Company has undergone significant changes in its operations. Among other things, TEP Capital has provided new financing that allowed the Company to weather difficult times during a market downturn.
“We are pleased to have reached this constructive agreement which we believe to be in the best interest of all of the Company’s stakeholders.” said Tomasz Woźniak, Managing Partner of TEP Capital. “Over only four months of our ownership we managed to transform Perfectdoor in its key areas; among other initiatives we have introduced new senior management, redefined strategic priorities and divested of multiple non-core assets. We remain highly committed to support Perfectdoor in its development whilst the already achieved results make us very optimistic about the future.”
In line with a key part of its investment strategy, TEP Capital intends to be an investor in Perfectdoor for around 5 years.
About Perfectdoor:
Perfectdoor is a leading Polish producer of interior doors with a stable customer base in Poland. It operates a modern production facility in Kunów and employs around 400 people. In 2021, the Company produced around 600 thousand doors and had sales of around PLN 150 million.