Jet Investment acquires Benet Automotive
Brno, October 3rd 2017
Jet Investment has completed a new acquisition. Benet Automotive s.r.o. was included into the Jet 1 portfolio from 11 September.
Based in Mladá Boleslav, this manufacturer of plastic and carbon exterior components for the automotive industry also provides pre-series development. Other activities include mounting the manufactured painted components on new cars and prototypes production. “Benet Automotive is a dynamic company in excellent condition. It is a clear-cut growth investment, and we intend to accelerate that growth through synergises with Fiberpreg,” says Libor Knappek, Project Manager.
The investment plan with which Jet Investment entered into this acquisition calls for completing vertical integration of companies owned within the portfolio – from production of composite fabrics (so-called prepregs) by Fiberpreg to production of carbon components at Benet Automotive. “At the same time, the new acquisition will also help to diversify the portfolio by entering into new segments, specifically plastic components production and development,” Mr Knappek relates, explaining the investment strategy.
The Jet 1 Fund acquired through Jet Alfa 100% of the equity from Benet Automotive’s former owners Josef Zajíček and the Swiss BA Group. The previous owners decided to bring in an investor which could facilitate the company’s further development. The company, which has more than 600 employees, grew its sales by CZK 300 million from 2012 to 2016 to the current CZK 820 million. Sales in 2017 are expected to exceed CZK 1 billion.
One of the Czech Republic’s leading automotive component producers, Benet Automotive includes among its main customers especially VW Group automotive manufacturers, in particular ŠKODA Auto and Audi, as well as BMW.