Penta investment group decided to join the European Private Equity and Venture Capital Association EVCA (www.evca.com). The Penta’s management came to this conclusion based on results of more than a year-lasting analyses, in the course of which in cooperation with KPMG London and Boston Consulting Group, Penta took a decisive step to increase efficiency and quality of its internal operation and adopted the best practices of this industry.
"We have reviewed a system and principles of operation of private equity companies throughout the Europe and the world. Despite of small differences, we have ascertained that Penta is a part of a broad world-wide family of companies investing in high-risk, non-publicly traded assets," said Mr. Jaroslav Haščák, one of the Penta’s partners.
The EVCA associates almost one thousand of players in the industry known as private equity. A volume of investments effectuated by European private equity companies in 2004 exceeded 30 billion EUR; and worldwide this number totals approximately 200 billion EUR per year.
Penta has shaped as a private equity company for several years and its new direction is a result of a long-term natural process. After a year-long re-engineering of internal processes in cooperation with reputed world consultancy companies, Penta will operate in Slovakia as a new company under the new name Penta Investments a.s. A new corporate identity based on a new logo today presented by Penta to media representatives is also an expression of this change.
Within its activities, Penta will continue to focus on investment opportunities in the area of restructuring of production companies, LBO investments, strategic investments in the area of health sector and other investment areas typical for private equity industry.