Accession Capital Partners backs management buyout of SMYK
Accession Capital Partners (ACP) alongside Messrs. Michał Grom and Maciej Zużałek, have agreed to acquire SMYK from Bridgepoint. No financial details are disclosed. The investment is being made from AMC V SCA SICAV-RAIF, advised by ACP.
SMYK is an iconic brand cherished by both children and their parents, which for more than 45 years has provided a diverse range of toys, children’s apparel, and accessories, conveniently available “under one roof”, ensuring customers find precisely what they are looking for. SMYK offers products from the most well-known and respected global brands, alongside its own labels – Cool Club and Smiki – both of which enjoy enduring popularity among consumers in Poland and many international markets. The company currently operates a network of more than 280 brick-and-mortar stores across Poland, Romania, and Ukraine, as well as an e-commerce platform, to create a fully integrated omnichannel offering.
ACP will support Michał Grom, the company CEO, who, alongside Maciej Zużałek, an investor with extensive experience in management and private equity, will collaborate to enhance SMYK’s development and sustain its operational and financial growth. Last year saw strong sales revenue generated within both its brick-and-mortar stores and e-commerce channels, with SMYK’s revenues forecast to reach PLN 2.12 billion for 2023.
The completion of the acquisition is subject to customary approvals.
Michał Grom, CEO of SMYK, said, “I would like to thank Bridgepoint for their longstanding cooperation and substantial contribution to the dynamic growth of our company. Thanks to the collaboration and support, our company has been able to thrive. We are thrilled to begin the new chapter with the ACP team, whose collaborative approach and impressive track record make them a unique partner as we strive to further innovate and expand our presence in Poland and the CEE region. Last year’s strong results reflect our efforts, illustrating the impact of expanding in Poland and internationally. Our goal is to sustain this momentum and continue our growth. Key to this will be a customer-centric approach, and so we plan to expand our network, particularly in Poland and Romania, and broaden business collaborations with trading partners in global markets.”
Przemysław Głębocki, Managing Partner at ACP, said, “We are excited to be part of the next chapter of SMYK’s development and partner with Michał. Supporting management teams is core to our investment strategy which we have successfully implemented for nearly 25 years and across five funds dedicated to Central Europe. We are confident in SMYK’s potential and look forward to working closely with the company management team to drive operational excellence, pursue strategic growth, and deliver enhanced value.”
Accession Capital Partners
Accession Capital Partners (ACP) is investing from its fifth fund AMC V SCA SICAV-RAIF which launched last year. ACP has been operating in Central and Eastern Europe since 2000 through its offices in Vienna, Warsaw, Bucharest, Budapest and Prague. To date, the group has raised commitments of more than €1.1bn in five dedicated growth capital funds. The funds are backed by reputable institutional investors, including the European Investment Fund, the International Finance Corporation, the European Bank for Reconstruction and Development and a number of banks, funds of funds, pension funds and insurance companies from Europe, the US and Asia.
SMYK
SMYK is the market leader, with over 45 years of presence in the Polish market, offering a comprehensive selection of toys, baby accessories, clothing, and footwear tailored for children from birth up to 14 years of age, all conveniently available ‘under one roof.’ SMYK’s retail network includes over 240 brick-and-mortar stores in Poland, an online store at smyk.com, 30 stores in Romania and 10 stores in Ukraine. Additionally, the private label products, Cool Club and Smiki, are accessible in physical stores and online outlets operated by SMYK’s retail partners across many countries in Europe and Asia. Private label products as well as third-party brands are sold through the e-commerce platform and SMYK’s mobile application. This, combined with the store network, constitutes an integrated omnichannel offering.
For further information, please contact:
Christian Stix, Head of Investor Relations
tel.: +43 1 532 89 9019
Bridgepoint
Bridgepoint is one of the world’s leading quoted private asset growth investors, specialising in private equity and private debt. With over €39.5bn of assets under management and a strong local presence in Europe, the US and China, it combines global scale with local market insight and sector expertise, consistently delivering strong returns through cycles.