References

SART Capital Partners team has served either as investor or as a GP for hire on more than 18 projects in various industries like construction materials, retail, healthcare, food processing, IT and entertainment through the following funds:

CEE Special Situations Fund

Aplast

Romania

Successful turnaround of an unprofitable window & door manufacturer from Romania and expansion to Italy, Greece and the Netherlands.

Pricing below variable costs, unprofitable customers and segments, undefined strategy
Implemented renewable energy heating system, implementing PVC recycling process with the biggest customer
Implemented appropriate governance principles and introduced several training programs for employees

Bravo

Romania

Successful restructuring of a cash-strained roofing and water-collection systems company in Romania and expansion to become a market leader in Germany.

Exhausted working capital lines, liquidity issues
The team provided liquidity to restore supply chain and significantly improved profitability
Reduced the use of non-recyclable packaging to zero. Wood and plastic packaging reduced by 35%

Famed

Poland

Successful turnaround of the company from bankruptcy to becoming a global player in high-quality medical equipment manufacturing

Invested in working capital to rebuild key functions from supply chain, R&D, production, sales and distribution
Significantly reduced unit costs by implementing lean manufacturing
Received The Green Factory of the Year in Poland award in 2019 (co-winner with Mercedes-Benz)

The principal activity of the CEE Private Equity Fund was to invest in unlisted companies or undertakings in Eastern European countries, with emphasis on Poland, the Czech Republic and Hungary. Fund lost substantial value in its investment strategy and its portfolio NAV was significantly written down. Complicated Fund structure led to increased inefficiency and costs.

Some members of the SART team (working for another organization at the time) replaced the GP and fund manager and deployed a management team within days. Exited three investments within 9 months. Streamlined Fund‘s organization and reduced operating costs. Successfully restructured and exited remaining assets.

Baltic Fund I, L.P. was established to invest in enterprises and commercial real property located in the Baltic States of Estonia, Latvia and Lithuania. The Fund missed scheduled end of life.  It was a small Fund with large institutional LPs and expensive infrastructure. Seven minority stakes in illiquid company assets and two underdeveloped and stranded real estate assets with control and ownership problems.

Some members of the SART team (working for another organization at the time) replaced the GP and fund management team. Through restructuring and active management of the underlying portfolio companies, exited all core investments within two years at almost double the initial fair value.
More About Us