RCI II, Royalton Partners' second regional fund (2007 vintage), has invested in six portfolio companies to date
IUS Legal and Business Solutions
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The IUS Group operates in Ljubljana and Zagreb offering a full range of on-line services, through its legal, finance and tax portals, to professionals in Slovenia and Croatia. The IUS Group employs 70 people, and, in 2011, serviced over 12,000 customers in both countries.
KOM-EKO S.A.
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KOM-EKO S.A. ("KOM-EKO") is a Lublin-based waste management company, employing approximately 200 people and processing over 64,000 tons of waste annually. KOM-EKO utilizes leading-edge technology, reducing the volume of waste it collects that would otherwise go to landfill by over 60%. The company is Poland's largest producer of refused derived fuel (RDF) and was named the “Leader of Polish Ecology” 2011 by the Polish Ministry of the Environment.
Central European Airport Services
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In March 2011, RCI II, through Central European Airport Services, a Luxembourg holding company, acquired 100% of UAB Litcargus, Lithuania's leading airport ground handler with 70% of the passenger and 30% of the cargo traffic. Established in 1993, Litcargus is the first independent privately owned ground handling company in Lithuania. The company operates in Vilnius and Kaunas International Airports and offers a full range of ground handling services , such as passenger and baggage handling, ramp services , cargo and mail handling, also ticketing and GSA Service. In March, the company received a license to provide ground handling services at the Rzeszow airport in Poland. The company employs 317 people. In 2010, Litcargus serviced over 1.5 million passengers and handled over 3000 tons of cargo. 5% of the shares are owned by management.
EPG (Energy Power Group)
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During 2010, RCI II invested in the development of two solar plants in the Czech Republic with just over 5 MWp. Both plants came on line in early 2011 and are feeding electricity into the national grid.
CertAsig
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CertAsig S.A ("CertAsig") is a Romanian property casualty insurance company, focusing on niche classes of non-life insurance. RCI II acquired 95% of CertAsig's shares in December 2007 and provided additional development capital from 2008 to 2011. CertAsig is developing a profitable portfolio of insurance products focusing on corporate business in Romania and Turkey. The company experienced rapid growth between 2007 and 2009, increasing gross written premiums by 10x over that period from EUR 750,000 to EUR 7.5 million. In 2012, gross written premiums are expected to exceed EUR 10 million. The company is managed by James Grindley, an experienced Lloyds' insurance professional. He and his team have reduced OPEX by 60% and re-balanced the portfolio away from loss making motor insurance, which made up 52% of the portfolio in 2009, and toward more profitable classes of insurance. Motor now makes up 12% of the portfolio. Approximately 45% of the company's gross written premiums derive from writing marine hull, P&I and marine cargo policies for Turkish and Black Sea-based shipowners. The balance comes from corporate niche classes such as insurance bonds and liability. The company opened a representative office in Istanbul in May 2012 to further support its Turkish business. Over 10% of the shares are owned by management.
City Parking Group
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Acquired in 2009, City Parking Group, one of the largest parking groups in Central and Eastern Europe, has over 71,000 spaces under management and/or maintenance contracts in Poland, the Czech Republic and Slovakia, including in municipal parking zones, off-street guarded parking and managed indoor garages. RCI II rebranded the group to "City Parking" in late 2010. RCI II plans to provide additional development capital, which will enable City Parking Group to further expand its business in its core markets and in the other countries of Central and Eastern Europe. Over 10% of the shares are held by management.