Montagu, a mid-market private equity firm, has reached an agreement to acquire IAI Group, which is Poland’s leading provider of digital retail solutions, pending regulatory approval. This acquisition will transfer ownership from MCI Capital ASI and IAI’s founders.
Founded in 2000, the IAI Group is recognized for its e-commerce platform, IdoSell, which enables mid-to-large-sized merchants to manage their online operations effectively, including marketing, logistics, and payments. The company’s products are well-integrated into customer infrastructures, contributing to high client retention rates.
MCI Capital, which acquired a majority stake in IAI in 2018, has driven significant growth, making IAI a market leader in Poland and Hungary. Under MCI’s management, IAI achieved a compound annual growth rate (CAGR) of over 20% in net revenues from 2022 to 2024, alongside strategic acquisitions such as Shoprenter and AtomStore.
Montagu intends to include IAI in its digital infrastructure portfolio. Partners Daniel Fischer and Jan Stypulkowski highlighted IAI’s critical role in the digital retail ecosystem, aligning with Montagu’s investment strategy. Tomasz Czechowicz, CEO of MCI Capital, noted IAI’s strong market position, while Michał Paschalis-Jakubowicz, CEO of IAI, looks forward to the new growth opportunities.
Montagu manages €14 billion in assets across various sectors, while IAI currently serves around 13,000 stores in Poland and Hungary through its brands. MCI Capital, listed on the Warsaw Stock Exchange, manages assets exceeding PLN 2.7 billion.
KEY QUOTES:
“We have long admired the company’s powerful value proposition of helping customers scale their operations, which has resulted in IAI’s impressive growth trajectory. Its core differentiation and market-leading position aligns well with Montagu’s investment criteria, and we look forward to working with the IAI team to deliver continued innovation and accelerated growth.”
Daniel Fischer, Partner at Montagu
“Partnering with IAI’s management is a fantastic opportunity for Montagu as IAI’s ecosystem is mission-critical to the fast-growing base of digital retail operations across Central and Eastern Europe. We are looking forward to supporting IAI in further developing its capabilities, enabling the business to fully harness the long-term market tailwinds and realise its full potential.”
Jan Stypulkowski, Partner at Montagu
“Our involvement in the IAI Group was an excellent example of executing our investment strategy – through active support in organic growth and acquisitions, we helped build a leading SaaS provider for e-commerce in the Central and Eastern European region. IAI’s attractive market-leading position enabled us to sell the company ahead of a formal sales process that was due to begin in September.”
Tomasz Czechowicz, CEO and Managing Partner at MCI Capital
“This partnership with Montagu represents an exciting new chapter in IAI’s growth story; our shared vision and combined expertise puts us in an optimal position to achieve strong growth with both our loyal current merchant base and future clients.”
Michał Paschalis-Jakubowicz, Chief Executive Officer at IAI Group
