Jet Investment to dispose of Benet Automotive from its Jet 1 investment fund
The Czech investment company Jet Investment has agreed to dispose of 100 per cent ownership in the company Benet Automotive to the Japan-based multinational company Teijin Limited, a specialist in the development, manufacturing and sales of technologically advanced materials and products.
The terms of the agreement have not been disclosed.
The sale marks a further successful divestment for the Jet 1 portfolio following last year’s sales of the companies Less & Timber and Kodarna Plus.
“The sale of Benet to a strategic partner brings a rather quick exit from our investment into the project within less than two years. While it was in our hands, we initiated a transformation of the company to prepare it organisationally for future growth in satisfying the robust demand in the market for Benet’s products. Among other things, we succeeded in accelerating synergistic effects with the firm Fiberpreg, which also is in our portfolio,” says Jan Sklenář, project director at Jet Investment.
Jet Investment Partner Marek Malík adds: “We accepted the offer from Teijin, primarily because under its management Benet will be a part of one of the world’s most important global players in high-tech products for the automotive sector. We firmly believe that the steps we have undertaken, coupled with the consolidation of Teijin products’ portfolio, primarily its structural components domain, will help Benet to rise into a top position within the market’s segment.”
Duff & Phelps, based in Frankfurt am Main, provided M&A advisory work for the transaction, while DRV Legal, based in Brno, was the legal advisor for the transaction on behalf of the seller.