The Jet 2 investment fund acquires majority stake in 2 JCP
Through its fund of qualified investors Jet 2, Czech-based investment company Jet Investment has acquired a 70 per cent stake in 2 JCP, a company with a production plant in the Czech Republic and sales and technical branches in the United Kingdom and the USA.
The Jet 2 Fund plans to further develop the successful supplier of filtration and acoustic solutions for leading gas turbine manufacturers and make use of synergic effects with other companies from its energy platform.
2 JCP employs a total of 315 employees in three countries and achieved approximately CZK 100 million in EBITDA last year. "In the first phase, the Jet 2 fund bought a 70% stake from three Czech owners, but we count on an option to buy another approximately 15 per cent to present itself within four to five years. The remaining 15 per cent will remain in possession of the group's key managers," explains Marek Palička, the project director in Jet Investment.
At the same time, two of the three current Czech shareholders will remain active members of the management and will actively participate in managing and developing the company.
"I took 2 JCP over from my father, who built the company from scratch. After 26 years of successful leadership, however, it is time to sceptre and find a partner with enthusiasm and sufficient resources to ensure the further growth and stability of the company. I have full confidence in Jet Investment. I believe that it will continue the work we have started, and in which I will continue to participate myself as a minority owner and manager," says the original majority shareholder Jan Pačes on the decision to sell his share.
In the usual fashion, Jet Investment is going to develop the company.
"2 JCP has a high-quality management team that has been able to build a prosperous and robust company supplying products to the world's largest OEMs. By combining their experience and our know-how, we will strive to strengthen 2 JCP's position on the gas energy market," says Igor Fait, partner and founder of Jet Investment, on the acquisition of a company, the revenues of which have been growing at a double-digit rate in recent years. His team also plans to implement appropriate elements of a corporate governance structure to better correspond to a company operating in three countries on two continents. Business and production synergies also suggest themselves, primarily with PBS Industry, Tedom and Benvig Heat Transfer from the Jet fund portfolio.
Roklen Corporate Finance was an advisor during the entire sales process.