The human resource services outsourcing company SmarTree foundedby Eric Kish, one of the first employees of Dinu Patriciu at theRompetrol group, is valued at 5.3 million euros following the dealwhereby private equity fund Enterprise Investors bought 56% in itfor 3 million euros.
"We got offers from three other investment funds, but inDecember decided to conduct negotiations with Enterprise Investorsexclusively. The capital we got will be used to finance a new lineof business, that is personnel leasing," said Eric Kish, the ownerof SmarTree.
SmarTree provides HR outsourcing services such as payrollservices and personnel management, calculating the salaries of morethan 30,000 employees from companies such as Ikea, McDonald's andPetrom.
Enterprise Investors expects to multiply the capital invested bya factor of four or five by the time it exits the business.
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