Four investment funds vied over Kish's HR business

The human resource services outsourcing company SmarTree founded by Eric Kish, one of the first employees of Dinu Patriciu at the Rompetrol group, is valued at 5.3 million euros following the deal whereby private equity fund Enterprise Investors bought 56% in it for 3 million euros.

"We got offers from three other investment funds, but in December decided to conduct negotiations with Enterprise Investors exclusively. The capital we got will be used to finance a new line of business, that is personnel leasing," said Eric Kish, the owner of SmarTree.

SmarTree provides HR outsourcing services such as payroll services and personnel management, calculating the salaries of more than 30,000 employees from companies such as Ikea, McDonald's and Petrom.

Enterprise Investors expects to multiply the capital invested by a factor of four or five by the time it exits the business.