Advent International has agreed to sell part of its shareholding in InPost Group, representing 15% of the $5 billion group’s total share capital, for €10 per share to PPF Group, a privately-held international investment company.
Advent International (Advent) has agreed to sell part of its shareholding in InPost Group (InPost), representing 15% of the $5 billion group’s total share capital, for €10 per share to PPF Group (PPF), a privately-held international investment company.
Listed on Euronext Amsterdam, InPost is a European automated parcel machine (APM) service provider.
Under the terms of the agreement, Advent will sell the 15% shareholding, with the option for PPF to purchase a further 15% of the Group’s total share capital at an agreed price. Advent and PPF have both agreed to a lockup agreement on the remainder of its holding in InPost for a six month period (subject to certain customary exceptions with each party being permitted to sell shares equivalent to up to 2.0% of InPost’s share capital during the lock-up period).
On completion of the initial sale, Advent will remain the largest shareholder in the Group with a 30.3% ownership stake.
Since its initial investment in 2017, Advent has invested substantially in InPost to support the management team and facilitate market share expansion across Europe. Since then, the Group has grown to become the leading out-of-home e-commerce delivery company in Europe, providing delivery services through its network of more than 29,000 APMs and operating across nine European countries. InPost successfully listed on Euronext Amsterdam in January 2021, and was at that time the largest ever tech IPO in Europe. Since then, revenues and EBITDA have more than doubled as the business continues its industry leading expansion.