ARGUS Capital Group Limited

ARGUS was established to make private equity investments in Central and Eastern Europe (the “Region”) and was one of the first private equity firms to establish a network of offices in the Region. ARGUS is supported by leading institutional investors and family offices from Europe, North America and the Middle East.

The Fund is not making any new investments.
market-Detal (PMD) is leading Polish supermarket chain operating over 180 supermarkets across Poland under the Mila brandname. Mila stores have an average selling area of between 400-500 sqm and carry ca. 6 thousand stock keeping units (food and non-food). PMD, which is run by independent professionals, is an exceptionally well organized and well-managed company. In 2012, ARGUS acquired a minority stake from the Company's founders.

KCR is the largest Polish-owned firm in the CRO sector (a Contract Research Organization -€“ a company which conducts clinical trials). Since its beginning, KCR has conducted over 300 clinical trials in 7,500 centres, in which over 300,000 patients have participated. The company conducts phase II-IV clinical trials (mostly phase III studies), including tests in neurology, psychiatry, internal and contagious diseases, pulmonology, cardiology and gastrology. KCR has performed studies for a diverse mix of clients (large global pharma co's, mid-size regional pharma players, and biotech companies). In 2011, ARGUS acquired a minority stake from the existing shareholders of the company.

Calucem previously known as Heidelberger Calcium Aluminates, is one of the leading worldwide suppliers of calcium aluminate cement, supplying high quality and specialty cement to both the refractory and building chemistry industries. Calucem products include low and medium grade alumina cement and clinker. Calucem Group companies include Calucem d.o.o., a production facility based in Croatia, as well sales offices in Germany, the United States and Singapore. ARGUS, in partnership with the management team of Calucem, acquired 100% of the company in September 2010.

Memorial is a leading private healthcare provider in the fast growing Turkish market offering complicated services including organ transplantations, cardiovascular surgery, cardiology, IVF, and oncology. The company operates more than ten hospitals located in Istanbul and other cities in Turkey. Memorial's goal is to expand to other regions of Turkey by opening new hospitals and taking over the management of existing hospitals. In 2010, ARGUS acquired a 20% equity stake in Memorial from its owners, the Aydin family.

KaleNobel is a leading flexible packaging producer based in Turkey and focusing mainly on niche sectors within the food industry (ice-cream and drinks segments in particular). The company has been growing organically at a fast pace and a significant part of its production is exported. ARGUS acquired 50% of the company in December 2010, becoming an equal partner with M. Olcay Hephiz, the company's founder and CEO.

RIO Media was established by ARGUS in 2008 to consolidate the fragmented cable television ("CATV") market in the Czech Republic. The company has made a total of six acquisitions, becoming the second largest CATV operator in the country. RIO Media provides video, internet and voice services to more than 100,000 subscribers.

Hanex is a leading Polish manufacturer of PET performs and bottles for many well known drinks manufacturers in Poland and adjacent countries. The company's competitive advantage lies in its patented designs, which the company continually develops and which offer its clients solutions with superior parameters to those offered by mainline manufacturers that produce commodity-like products. ARGUS acquired a super-majority stake in the company from a private seller in 2006.

eTel was a regional alternative telecommunications company with operations in Austria, the Czech Republic, Hungary, Poland and Slovakia offering voice and data services to corporate and residential customers. ARGUS, together with other financial investors, provided expansion capital to eTel in 2000. As the largest shareholder in eTel, ARGUS was instrumental in supporting the company throughout the telecoms crisis in the early 2000s. As a result, eTel has successfully realized its ambition to become a leading player in the Region and the company has increased its revenues from EUR 6 million in 2000 to EUR 115 million in 2006. eTel was sold to Telecom Austria in early 2007.

ASTER is the leading cable television company in Warsaw, providing internet and cable television services to residential customers. In 2003, ARGUS was able to act quickly to organize a consortium that put together a debt and equity package in excess of US$ 100 million to complete the largest leveraged buy-out in Poland up to that time. ARGUS exited the investment

Palace Cinemas (Central Europe) BV was the leading multiplex cinema exhibitor in the Czech Republic, Slovakia and Hungary, as measured by admissions and box office. Founded in 1999 together with two experienced media entrepreneurs, Palace has grown into the regional leader by developing its own high quality sites as well as through market consolidation, having made major acquisitions of its competitors in 2002, 2005 and 2006. ARGUS sold Palace Cinemas to Cinema City International in 2011.

Svoboda Press a.s. was the largest commercial printing company in the Czech Republic. In early 2000, ARGUS acquired the company, which was then the number three player on the Czech market. Working closely with management, ARGUS restructured the company, focusing on core activities, investing in state-of-the-art technology, and expanding Svoboda's export capabilities. By 2006, when ARGUS sold the company to a pan-Regional printer, Svoboda was the leading commercial printer in the Czech Republic and one of the major players in the Region.

FiberNet used to be the largest independent cable television ("CATV") company in Hungary. ARGUS, together with a local entrepreneur, established the company in 1999 to lead the consolidation of the Hungarian CATV market which was very fragmented at the time. Over the following years, FiberNet acquired a diverse group of smaller networks, which were subsequently upgraded and integrated into a unified and efficiently managed operation with over 120,000 subscribers. ARGUS sold its controlling stake in the company to a financial investor in 2004.

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