3i has strengthened the local presence of its newly-formed central and eastern European buyouts team with a director-level appointment in Poland.
The UK-listed private equity group has hired Andrzej Szostak, formerly a managing director at Rothschild Polska, part of the Rothschild Group, to spearhead its Polish operation. Szostak will be largely based in Warsaw but will spend some time at the team’s headquarters in London and elsewhere in the region.
The former investment banker will be tasked with sourcing and executing buyout deals both in Poland and elsewhere in the region. He has previously specialised in the TMT and energy sectors, but his new role will range across all industries.
3i is looking to ramp up its investment in the central and eastern Europe region, with as much as 10 percent of the €5 billion Eurofund V potentially available for this purpose.
Szostak’s hire follows that of Zoltan Toth, who joined from Advent International to lead the team’s activities in Hungary. Like Toth, Szostak will report to the team’s head, partner Stuart McMinnies.
McMinnies described Szostak as “a high profile and experienced professional with great knowledge and connections in Poland and the rest of this exciting market.”
The new CEE team has already closed its first deal, with the acquisition of Euro-Druckservice Aktiengesellschaft, a web-offset printer based in the Czech Republic, Poland and Hungary.