Mid Europa has completed the acquisition of all outstanding Wheelabrator Group equity through its Emerging Europe Convergence Fund II LP, from a group of private investors led by Bard & Company of the United States.

"Mid Europa's strategy is to identify and realise growth opportunities in Central and Eastern Europe. In Wheelabrator Group we have found a company which shares our view about the potential of the Region" said Zbigniew Rekusz, the head of Mid Europa's office in Poland. "Wheelabrator is the top industry player with over 20% of the global market share, outstanding brand recognition and leadership in technology and product development. We will work with its management to see that it enhances its leadership position, both regionally and globally".

Wheelabrator Group's operations in Poland are currently limited to a small facility near Poznań. The Company plans to make significant investments and expand its facilities in Poland. Zbigniew Rekusz commented: "Wheelabrator is making a strong commitment to the Region, through expanding its operations in Poland.  Poland will become the hub of Wheelabrator's expansion in Central and Eastern Europe and further East and a new base for its global growth strategy.

We are confident that Wheelabrator will make a significant contribution to the Polish economy. The new investment will create several hundred jobs in the next 18-24 months. Wheelabrator is a very innovative company recognized as a leader in manufacturing technology.  Its decision to establish the regional hub in Poland should enhance the country's position in the development of sophisticated engineering solutions and advanced products.

"Our support of the Company's plans indicates our confidence in Poland, its economy and its people. It also shows our long term commitment to the Region, which we believe has an outstanding growth potential.  Within two months of closing our second fund of EUR655m this is already our second very significant investment in Poland" added Zbigniew Rekusz.

MEP has been represented in Warsaw since 2004. Its other investments in Poland include Aster, the cable TV operator.

For further information, please contact:

Mid Europa Partners:
Zbigniew Rekusz
+48 (22) 540 7120

Wheelabrator Group:  
Vanessa Riding
+44 (1961) 924 3204

Notes to editors:

About Mid Europa Partners

Mid Europa Partners is the largest private equity firm investing in Central and Eastern Europe. Operating from London, Budapest and Warsaw, Mid Europa Partners advises and manages funds with committed capital in excess of €1.1 billion. The Mid Europa Partners team has been investing in Central and Eastern Europe since 1999.

Mid Europa Partners has made investments in eleven companies located in nine countries of Central and Eastern Europe. Current investments include Invitel (Hungary's second largest fixed line telecommunications company), Karneval (the second largest cable TV operator in the Czech Republic), Estonian Railways and Aster (the Polish cable TV operator).

Mid Europa Partners employs an active, hands-on investment approach and applies the sector knowledge and operating experience of its people to deliver long-term value creation together with the management teams of portfolio companies.

For additional information on Mid Europa Partners please visit: www.mideuropa.com.

About Wheelabrator Group

Wheelabrator Group is the world's largest provider of surface preparation solutions.  It sells, designs, engineers, and manufactures trusted and established products in virtually every strategic area of surface preparation, across many industries, including the automotive, aerospace, marine, medical,construction and rail transport sectors. Wheelabrator Group employs 1,200 people worldwide and has sales, service and manufacturing locations in seventeen different countries. Its blue chip customers include: DaimlerChrysler, GM, Boeing, BMW, Caterpillar, Thyssen, Airbus, Boeing, Rolls Royce, Pratt&Whitney, Lockheed Martin, Mannesmann.

For more information on the Wheelabrator Group, its products or services please visit: www.wheelabratorgroup.com.