Founded by university classmates, particularly Marek Dospiva and Jaroslav Haščák, who had already been doing business together during their studies.
During this time, Penta operated mainly in Slovakia as a securities trader.
Penta transformed into a private equity investor and began expanding into the Czech market as well.
Key milestones from the private equity period
Entry into the Real Estate segment, where Penta became one of the most significant developers in the region.
Entry into the Polish market and opening of a representative office in Poland.
Development of companies such as Dr.Max, Fortuna, and later Penta Hospitals, which became leaders in the region and on the European market.
Penta as a long-term investor
Penta has changed its investment strategy, becoming a long-term investor in selected industries and companies.
Restructured its portfolio by selling companies that were not in line with long-term investment strategy.
Penta entered a new business sector – media in the Czech Republic and Slovakia.
Penta has carried out several major development projects, primarily in Prague and Bratislava, such as Masaryčka, Florentinum, Waltrovka, Victoria Palace, SkyPark, Digital Park, and Bory Home.
Penta successfully coped with the effects of the coronavirus pandemic as well as macroeconomic and inflationary instability, achieving excellent performance across its portfolio.
At the end of 2024, Penta launched the Penta Fund, marking a historic milestone in which the group, for the first time, allowed external investors to participate in supporting the growth and development of its portfolio under the same conditions as its owners.
Overview of Past Investments
AB Facility focused on integrated management, primarily building technical maintenance and selected technologies, cleaning services, landscaping and green space maintenance, and energy management. In January 2016, Penta sold 100% of its ownership in AB Facility, a.s., in the Czech Republic, as well as AB Facility, s.r.o., in Slovakia, to the company Atalian CZ.
Penta acquired ADAST a.s. in 2003 during bankruptcy proceedings. The company was in poor condition and struggled to compete in the highly competitive international market for printing machines.
During Penta’s ownership, investments in ADAST focused mainly on improving production efficiency and innovation. After restructuring the company, Penta sold its 100% stake in ADAST to the company J 23 a.s.
AERO Vodochody is the largest aircraft manufacturer in the Czech Republic. It focuses on the development, production, sale, and servicing of aircraft and aircraft components in both military and civilian aviation sectors. Penta acquired AERO during the privatization process in 2007, with the strategic goal of revitalizing the company and securing its long-term position as a key partner for global aircraft manufacturers.
In 2017, after many years, the company returned to producing its own aircraft, and a prototype of the L39 NG aircraft was introduced a year later.
In 2021, Penta sold Aero Vodochody to the Hungarian company HSC Aerojet Zrt. The transaction also included the company Letiště Vodochody, a.s.
In 2006, Alpha Medical became part of Penta’s portfolio. It is the largest operator of medical laboratories in Slovakia, the Czech Republic, and Poland.
Between 2006 and 2012, the Alpha Medical Group grew through acquisitions, which was reflected in increased revenues. During this period, it successfully expanded its operations from Slovakia to both the Polish and Czech markets, securing the position of market leader in Slovakia and second place in the Czech Republic.
Penta sold the Alpha Medical Group at the end of 2012 to the private equity fund Mid Europa Partners.
AVC is a leading Slovak manufacturer of assembly units and components for the automotive industry, construction machinery, and agricultural equipment. Penta consolidated ownership relations within the company, carried out operational restructuring, and executed an exit.
Between 2001 and 2004, Penta participated in several tenders organized by the Czech Consolidation Agency and became one of the most prominent investors in the Czech non-performing loan (NPL) market, among others also in cooperation with Credit Suisse First Boston.
Chemolak is a prominent manufacturer of coatings, resins, adhesives, thinners, and auxiliary products. The company was part of the portfolio acquired by Penta through its takeover of VÚB Kupón.
Drôtovňa Hlohovec is engaged in the production of tire cords and bead wires, as well as construction materials. Penta entered the company during a crisis, carried out asset stripping and operational consolidation, and later achieved a successful exit with the multinational group Bekaert.
Drumet is the largest producer of steel wires and ropes. Penta acquired Drumet during bankruptcy proceedings for 120 million Polish zlotys. During the company’s restructuring, Penta redefined the production portfolio, introduced more value-added processing products, and invested in steel rope manufacturing.
In June 2011, Penta sold its 100% stake in Drumet Liny i Druty Sp. z o.o. to the strategic investor WireCo World Group.
Elektrovod is a company focused on energy systems for the transmission, distribution, and delivery of electric power. Penta held a 50% stake in the company and played a significant role in its financial and operational restructuring. It later sold its stake to Severomoravská energetika, a.s.
Falck was the largest provider of emergency medical services in Slovakia, operating 74 rescue stations. Penta participated in the project as a 50% shareholder in partnership with the Danish company Falck.
Gehring is a global leader in the production of honing machines—these highly sophisticated technologies are primarily used in the manufacturing of internal combustion engines for the automotive and aerospace industries.
In 2018, Gehring merged with the company copperING, expanding its portfolio to include production systems for electric motors, a sector that is becoming an increasing focus for car manufacturers. The company, with nearly 800 employees, has manufacturing facilities not only in Germany but also in the USA and China.
Penta ended its involvement in the company in 2020.
Gimborn is engaged in the production and sale of premium pet food and supplies for small domestic animals. It owns two manufacturing plants in Germany. Between 2008 and 2016, when the company was part of Penta’s portfolio, it focused primarily on expanding its production.
In 2008, Penta entered the window manufacturing industry by acquiring leading Polish producer Okna Rabien. In 2009, Penta completed the purchase of another window manufacturer, the Slovak company Noves okná. Around the same time, a unified brand for the new holding was established—Hasau Group.
However, after 2012, due in part to a further decline in revenues in the construction sector, which particularly affected its operations in Poland, Penta decided to exit the industry.
Iglotex is a leading Polish manufacturer and distributor of frozen foods and ice cream.
The group was formed in January 2011 through the merger of Iglotex (Northern Poland) with the company Iglokrak (Southern Poland), which had been part of Penta’s portfolio since 2010. In the newly established Iglotex Group, Penta held a 50% stake. Its aim was to consolidate and restructure the entire frozen food segment and its distribution within the HoReCa sector in Poland.
In 2023, Penta sold its 50% stake in Iglotex to the Wlodarczyk family.
The company Košice Airport owns and operates the second largest airport in Slovakia. The airport was acquired by the consortium Two One, which was composed of Vienna Airport, Penta, and RZB as the winner of the privatization tender.
In the summer of 2008, Penta sold its stake to Vienna Airport.
MECOM GROUP is a leader in the meat processing industry in Slovakia. Since 2008, Penta gradually expanded in this sector into the markets of the Czech Republic and Hungary.
In 2021, Penta sold Mecom Group to the American company Smithfield Foods.
MediClinic is a private provider of outpatient healthcare services in the Czech Republic, founded by Penta. Its goal was to create a network of primary healthcare providers across the country by consolidating clinics from all medical specialties. Penta exited the company through a Management Buyout.
MEZSERVIS designs, manufactures, and provides service for electric drives, elevator switchboards, and ensures the production and development of special-purpose electric machines and related services. Penta acquired a 100% stake in the company in 2010 with the aim of creating synergies with TES VSETÍN in the areas of sales, production, procurement, and other operational activities.
In 2011, both companies were acquired by the private equity firm Advent International.
Penta’s start-up investment in the field of mobile virtual operators in Poland.
Penta sold Mobilking to the telecommunications company MoCoHub Technology Development S.A. in May 2009.
MobilKom is the owner and operator of the U:fon network, which was launched in the Czech Republic in May 2007. U:fon offers mobile, voice, and data services based on CDMA technology.
Penta sold MobilKom in March 2011 to a strategic investor—Divenno Holdings Limited.
Management and recovery of hard-to-collect receivables from the banking sector (Slovenská konsolidačná, a.s. and financial institutions) and the National Property Fund of the Slovak Republic. Between 2000 and 2005, Penta was a market leader in the receivables sector.
Novoker is a Slovak manufacturer of floor tiles and ceramic wall tiles. Penta carried out asset and operational consolidation and executed an exit.
Ozeta Neo is one of the largest manufacturers of men’s clothing in Central Europe. Penta entered the company during bankruptcy proceedings, carried out operational restructuring, and completed an exit.
Petit Press is one of the most prominent publishing houses in Slovakia, offering a wide range of multimedia products and services. Its portfolio includes more than 30 central and regional print periodicals. Its digital media presence is highlighted by the most visited news portal in the country, www.sme.sk. Penta held a 40% ownership stake in the publishing house starting in 2016.
In 2021, Penta sold a 34% stake in Petit Press to the Media Development Investment Fund. The remaining 5.5% of shares were sold to the publishing house’s management team.
PPC is a cogeneration steam and gas power plant. After Penta entered the company, its legal status was consolidated, operations were optimized, the company was transformed into a support service provider, and a new energy source was built.
The Restitution Investment Fund was the largest closed-end investment fund in Slovakia. Penta entered the fund by purchasing shares, acquiring an 18% stake. It completed its exit by selling the shares to the majority shareholder.
Sanitas focuses primarily on leasing warehouse space and providing services related to storage operations. Its services are mainly used by companies trading in electronics, but thanks to its long-standing tradition and excellent quality, the warehouses are also utilized by pharmaceutical companies, which are provided with all necessary conditions for storing medicines, including refrigerated units.
Sanitas is a significant distributor of pharmaceuticals. Penta entered the project by participating in a management buyout (MBO) of a 100% stake, which was being sold by the Monsanto corporation. Penta carried out operational restructuring, which led to an increase in Sanitas’s market share. The exit was completed through a sale to a strategic investor.
Severomoravské vodovody a kanalizace Ostrava was, at the time of Penta’s entry, the second largest water company in the Czech Republic, operating in the North Moravia region.
Penta carried out one of the largest leverage buyouts in the Czech Republic at that time, and in 2006 the company was very successfully sold in an international tender to the Spanish water company FCC.
Slovenská plavba a prístavy is a leading company in transportation, freight forwarding services, and shipbuilding in Slovakia. Penta participated as a 50% partner in the consortium that privatized the company. It was briefly involved in its restructuring and stabilization, and ended its involvement in autumn 2002.
Allianz – Slovenská poisťovňa is the largest commercial universal insurance company in Slovakia. Penta held a 25% stake in the company, in which the state held a majority. Penta sold its share to the strategic investor, Allianz AG, under the same conditions as the state.
Stream Communications is a provider of combined cable services—through its own HFC (Hybrid Fiber-Coaxial) network, it offers analog television broadcasting, internet, and fixed telephone lines. Penta sold Stream in 2010 to the Polish information technology services provider, Hyperion.
TES VSETÍN is a manufacturer of generators and electric motors, as well as a supplier of parts and subassemblies for electric machines to major global producers in the fields of energy and electrical engineering.
In 2011, Penta sold TES Vsetín (along with Mezservis) to the private equity firm Advent International.
VelveTex is the only producer of artificial silk fabrics in Slovakia. Its main products include technical textiles and home textiles. Penta entered the company during bankruptcy proceedings, carried out operational restructuring, and executed an exit.
VSŽ was a significant steel company in the Central European region. Penta entered the project by purchasing 7.36% of the company’s shares, later increasing its stake to 24.5%. Penta implemented a major consolidation and restructuring of the company’s non-core assets and introduced a new and successful legal strategy for handling litigation, which had been a significant burden for VSŽ. Since 2003, Penta became the majority shareholder in VSŽ and gradually transformed the company into an investment holding.
VÚB Kupón was once the largest privatization investment fund in Slovakia. Penta initially acquired 17% of VÚB Kupón shares and later purchased an additional 35% stake owned by VÚB Banka. Penta merged the fund with Intefin Group to transform it into a standard commercial company. It then carried out a gradual sale of parts of the portfolio, which included over 100 equity securities.
In the autumn of 1997, Interfin Group was split in a 55:45 ratio of assets and liabilities into Istrofin and Intermark. Penta sold its stake in Istrofin to a financial investor from the Central and Eastern European region. Intermark was liquidated, and the profits were distributed to shareholders.
Žabka is a network of convenience retail stores in Poland and the Czech Republic, offering groceries, complementary goods, and services primarily in city centers as well as in busy commercial and residential areas.
In 2011, Penta sold the Czech Žabka to the strategic player Tesco Stores ČR, and the Polish Żabka to the private equity fund Mid Europa Partners.
ZSNP was historically one of the most important metallurgical plants in Central Europe. After its privatization, Penta implemented financial and operational restructuring, asset stripping, and also took on the resolution of one of the most significant environmental burdens in Slovakia—the recultivation of the retention sludge field.