Roman Nikitov is a graduate of the International Christian University in Kyiv, Ukraine, with a robust 20-year background in finance and investment banking. Over the course of his career, he’s weathered three revolutions and navigated through two phases of war. Like many Ukrainians, his family has sought refuge in Warsaw, where they've embraced Poland as their second home.
Roman has cross-market experience, actively engaging in both the Polish and Ukrainian markets over the past two decades. During prosperous times, he facilitated numerous private equity transactions and public listings. In challenging periods from 2014 to 2018, he navigated multiple special situations and non-performing loan transactions, dealing with debt defaults, restructurings, turnarounds, collateral enforcements, and crisis management. This journey has honed Roman’s ability to extract value from any environment, and he believes he is in the right place at the right time, equipped with the relevant experience to leverage the current disrupted situation in the region. His goal is to strengthen business integration between Poland and Ukraine, solidifying the foundations of their shared heritage.
As a co-creator of one of the largest railcar operators in Ukraine, Roman is now expanding this venture into Poland. He has served as a venture capital portfolio manager and has specialized in non-performing loans (NPLs) and turnaround situations, managing over $1 billion in loan books throughout his career. His extensive experience includes taking multiple companies public on the Warsaw and London Stock Exchanges.
Roman has over 10 years in industrial software investments and strategy, having managed more than $10 billion in total investments through mergers and acquisitions (M&A) and venture capital. His key investments and M&A transactions include companies such as Mendix, Mentor Graphics, Falconry, and LMS. Additionally, he is an advisor and investor in high-profile startups like BuildOps, Carro, and Port.
Proven Track Record in Distress and Special Situations Investments Success Stories (2014-2017)
• Rolling Stock Owner/Operator (Logistics): Railcar collateral under this exposure was successfully enforced through courts and then leased to specialized operators. Partially realized ~4 years, 8.0x, 143% return.
• Pipe & Tubes Producer (Metallurgy): This exposure was bought as part of a large EU bank portfolio and sold to the business owner. Partially realized ~2 years, 10.0x, 1,548% return.
• Agricultural Company (Agriculture): This exposure was acquired as part of a large EU bank portfolio and sold to an international institutional investor. Partially realized ~5 months, 1.4x, 131% return.
• Metals & Mining Group (Metallurgy): After a successful restructuring, this exposure was sold at 2x cash-on-cash to an international institutional investor. Consensual restructuring and sale, realized ~1 year, 2.0x, 99% return.
Restructuring Transactions
• Business & Debt Restructuring (Agriculture): $1.3 billion advisory role in debt restructuring of one of the largest agricultural companies.
• Debt Restructuring (Machinery, Metals, Mining): Executed restructuring of an $850 million loan portfolio of the leading steel producer.
• Debt Restructuring (Machinery, Metals, Mining): Lead role in restructuring the debt portfolio of the largest railcar producer, amounting to $750 million.
• Debt Restructuring (Agriculture): Chaired 8 banks in restructuring a $74.5 million loan for a large oil producer.
• Enforcement (Railcar Fleet): Played a pivotal role in the recovery of an EBRD loan and enforcement of railcar fleet collateral in Ukraine, valued at $70 million.
• Debt Restructuring (Agriculture): Lead role in public and private debt portfolio restructuring for an agricultural producer, totaling $13 million.
• Debt Restructuring (Machinery, Metals, Mining): Chaired a $10 million public debt restructuring for a large shipbuilding company.
