Mid Europa Partners has bought a 75 percent stake in Polish company Jaworzyna Krynicka for €11.8 million, valuing the business at €15.7 million.
Headquartered in Krynica, Poland’s second most popular mountain tourist destination, the company is one of the country’s leading ski lift operators. The majority stake was previously owned by Polish financial institutions PZU and PKO BP.
The deal bolsters Mid Europa’s expanding portfolio in the region. Earlier this month, the firm successfully completed the acquisition of Polskie Koleje Linowe (PKL), Poland’s oldest mountain tourism operator, for PLN215 million (€51 million, $66 million).
The Jaworzyna Krynicka transaction was completed through PKG, an entity that Mid Europa established in conjunction with the local Tatra communities as part of the PKL deal. The idea is that the vehicle will invest to support long-term growth in the region.
“Combining PKL and Jaworzyna Krynicka under the PKG platform represents a key milestone in creating a market leader able to compete for tourists and skiers with mountain resorts in other countries,” Zbigniew Rekusz, partner of Mid Europa, said in a statement.