Warburg Pincus has invested into Polish pharmaceuticals company Apteki Gemini. The size of the transaction was undisclosed.
The investment is thought to have been made from Warburg Pincus Private equity XI, which is almost completely deployed. The $11.2 billion fund is a 2012-vintage vehicle.
The firm is currently fundraising for Warburg Private Equity XII, a $12 billion buyout vehicle that has already reached its target, according to PEI Research & Analytics division.
Its investment in Gemini will support the company’s growth plan, the firm said. Gemini, established in 1990, operates in northern Poland through a chain of 31 pharmacies and online providing low-priced drugs and patient pharmaceutical care.
The management team will remain in place and pursue its current strategy. The company plans to expand across Poland. The firm has recruited more than 150 pharmacists in the past 12 months and is looking forward “to offering attractive career opportunities to ambitious pharmacists across Poland,” said Aleksandra Kuzniak of Gemini.
Warburg Pincus’ previous investments in high growth Polish companies include in cable operator INEA in 2013, restaurant franchise operator AmRest, and fixed-line telecommunications operator Netia.
In late October, French businessman Marc Ladreit de Lacharrière through his family holding company Groupe Marc de Lacharrière (GML) acquired a 5 percent stake in the buyout firm, as reported by Private Equity International.
The investment will see de Lacharrière become a senior strategic partner at Warburg Pincus, with GML looking to invest in Warburg Pincus’s future funds as a limited partner.