Prospect Investment Management and Lime Rock Partners Announce Investment in KRI S.A.8/3/2007
LONDON, August 3, 2007 — Prospect Investment Management and Lime Rock Partners, two international private equity firms, today announce an initial investment of growth capital in KRI S.A., a Poznan, Poland-based natural gas supply and distribution company. The initial investment is part of a €100 million total expected investment in KRI to allow the company to develop its network of pipelines and distributed LNG assets to supply natural gas to industrial customers throughout Poland.
Established in 2001 by PBG S.A. (WSE: PBG), Poland’s largest construction firm focusing on the energy and water sectors, KRI currently supplies natural gas to several areas in Poland through its distributed LNG network and medium-pressure pipelines. With the growth capital investment by Prospect and Lime Rock Partners, KRI will accelerate its development plans. The company intends to develop more local and end-user natural gas distribution assets as well as high pressure pipelines, proprietary liquefaction plants, and LNG import capabilities. PBG will remain a material shareholder of KRI.
Prospect Investment Management is a London-based investment firm that undertakes and manages development capital investments for a small group of investors. Lime Rock Partners, a private equity firm focused on the energy industry, is a creative, value-adding, and long-term investor of growth capital in exploration and production, energy service, and oil service technology companies worldwide.
For more information on KRI, please visit www.kri.pl.
For more information on PBG, please visit www.pbgsa.pl.
For more information on Prospect Investment Management, please visit www.piml.co.uk.
For more information on Lime Rock Partners, please visit www.lrpartners.com.