LESS & TIMBER
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|Industries||woodworking industry, power engineering|
The return realized was 6.3 times the original investment, which means it was one of Jet Investment’s most successful investments ever.
In 2018, the company was purchased by the Czech investment group Prosperita Holding. LESS & TIMBER, with its more than 300 employees, thereby was brought under the control of a strong strategic partner that intends to further develop production and the number of jobs.
|Company at divestment||
The business with three geographically distant sawmills and a wood processing plant was in need of restructuring and rationalizing of its operations. In under four years’ time, Jet Investment freed the company of unnecessary assets, and, through investing into a new production hall at the Čáslav premises, it concentrated LESS & TIMBER’s crucial sawmill operation and glued timber production at a single location. That not only succeeded in increasing annual glued timber production from 15,000 m3 to 20,000 m3 but also achieved synergies in costs and other areas.
|Company at takeover||
Jet Investment acquired the wood-processing enterprise LESS & TIMBER in 2015 through insolvency proceedings and thereby became the 100% owner of one of the most modern coniferous wood processing plants in the EU. It was a relatively healthy company but had fallen into trouble due to the original owner’s inability to repay high investments. For Jet Investment, it was a strategic investment with substantial growth prospects.