2019 was an eventful year for Watrium, with several exciting new investments, overall strong development for the portfolio companies, attractive and well positioned real estate assets, and moving into 2020 from a position of strength with a robust balance sheet. The continued value creation from a balanced and diversified investment portfolio, is the result of an investment strategy that Watrium has diligently followed for a long time.
HitecVision is Europe’s leading private equity investor focused on energy and infrastructure assets in and around the North-Sea. HitecVision has shown continued strong performance into 2020, also successfully raising a new fund. CMR Surgical is the global leader within innovative and disruptive minimal access surgery to patients around the world. Watrium supported the Series C raise, which was the largest private financing round in the European MedTech sector in 2019. The listings of Ultimovacs and DF Capital were successful and a natural development for the companies as they grow and prosper.
The acquisition of Wilks in the beginning of 2019 has also proven very successful, with a strong match, culturally and business wise, with the portfolio company Flexiteek. Together Flexiteek and Wilks are now clearly the global leader within synthetic teak decking and ready to take the next steps in creating a maritime services champion.
Moving into 2020, our portfolio companies and investment strategy was clearly tested by the Covid-19 pandemic. Covid-19 has rewritten the outlook for the global economy and society at large, and nobody really knows the full second and third order effects of the pandemic. Actions to ensure the health and safety of our employees were quickly implemented, as were initiatives to ensure the continued operations of the portfolio companies. Also, Watrium’s real estate portfolio has limited exposure to sectors like retail and hotels, reducing the effect the pandemic has on our assets. An important part of Watrium’s investment strategy is to make sure to always have dry powder to support our portfolio companies and to take advantage of market opportunities that may arise. Watrium was able to use some of this dry powder during the initial market turmoil and still has significant reserves available.
Going forward, Watrium will continue to develop and expand our portfolio of financial and real estate assets, working closely with our partners and management teams. Guided by Watrium’s core values, Long-term, Transparent and Responsible, we will strive to create value and have a positive impact with everything we do