Innova Capital takes control of the Polish logistic operator Pekaes
The paramount goal of the Innova Capital fund is to effectively support Pekaes in the further implementation of its ambitious development strategy
In the last few years Pekaes Group has undergone many changes in order to transform from a transport company into the intermodal-logistic group it is today. Thanks to this competences and appropriate human and infrastructural resources, the company ist capable of offering complex logistic services meeting the customers needs and expectations in many market segments.
“We offer the complete delivery chain – but our ambitions go beyond this. Noting your growing requirements, we are very committed to fulfilling them. At the same time, we notice significant growth potential of our market which we would like to utilise. This has also been noticed by the Innova Capital investment fund,” announces Maciej Bachman, President of the Management Board of Pekaes SA.
Therefore, on 21 July this year, the existing majority shareholder Kulczyk Holding S.A. and Strada Holding s.a.r.l., a company in the structures of the Innova Capital fund, entered into an investment agreement and a conditional preliminary agreement of sale of the Pekaes shares held by subsidiaries of Kulczyk Holding S.A.
This transaction means that after meeting the conditions specified in those agreements, first and foremost – after obtaining the consent of the President of the Office for Competition and Consumer Protection (UOKiK), one of the leading investment funds in Central and Eastern Europe – Innova Capital – will become the majority shareholder of Pekaes, and thus of all companies included in the Pekaes Group.
“I am very proud that this reputable investment fund has such high opinion not only of the developmental changes introduced in our company in the recent years, but also the great potential in our industry, the development of our Group and its growing value. The paramount goal of the Innova Capital fund is to effectively support us in the further implementation of the ambitious development strategy we have adopted,” says Marciej Bachman. “Thanks to this change, we will be able to ensure that customers receive with even greater security of service, as a large logistic operator who will continue to grow from year to year, offering better and more extensive services. Our new shareholder also places this objective before us as a priority,” he adds.
In 2014, Capital Group Pekaes earned net profit of over PLN 20 million, which means an increase by 85 percent compared to 2013. Sales revenue increased by 32 per cent to 722 million, while the operating profit was higher than in the previous year by 66 per cent, reaching PLN 16.9 million. EBITDA (increase YoT by 123%) and other profit margins also improved. The group takes advantage of the synergy effect and consequently expands its operations based on new assets, focusing on the development of intermodal and LTL transport services.
Source: oevz.com