Jet Investment acquires LIKOV, a leading European manufacturer of building profiles
(Brno, 22 November 2023) The Czech-based investment company Jet Investment has purchased a majority stake in the Czech company LIKOV through its private equity fund Jet 3. With a turnover of CZK 1.5 billion, the company is a leading European manufacturer of building profiles for insulation systems.
Jet Investment, through its Jet 3 Fund for qualified investors, has purchased 70% of the equity in LIKOV. The successors of the company’s founders, led by Radek Toman, who will continue to serve as the company’s CEO, will remain minority owners. The parties have agreed not to disclose the terms of the transaction.
“This is a successful family business with a long history of growth. We are entering as an investor at a time of generational change with the goal of supporting its further development and international expansion,” says Jet Investment founding partner Igor Fait.
LIKOV is a leading European manufacturer and distributor of plastic and aluminium building profiles and construction accessories, especially for external insulation systems. Last year, the company’s sales reached CZK 1.5 billion with EBITDA exceeding CZK 260 million. The company has a strong export orientation, selling its products to 250 customers in 39 countries, and it employs more than 150 people at its production and logistics facility in Kuřim, South Moravia.
In future, LIKOV should benefit from the European-wide trend of decarbonization and further increase the share of exports in its sales. “We see growing demand in European markets for greater energy efficiency and insulation of buildings. While the Czech Republic is already an insulation powerhouse, LIKOV, with its broad product portfolio and quality customer service, is seeing opportunities for further growth opening in European markets,” says Jet Investment Project Director Petr Filka.
Radek Toman, Managing Director of LIKOV, comments on the deal: “I believe that the entry of Jet Investment will be an impetus for further development of the company and together we will contribute a greater share to reducing the energy consumption of buildings in the Czech Republic and Europe.”
The acquisition of LIKOV is the first completed transaction of the Jet 3 Fund, in which Jet Investment pools individual and institutional investors’ capital and its own funds.
“We are pleased that we succeeded in intermediating the entry of an experienced investor, which is a guarantee for LIKOV’s further development in the promising field of building insulation,” said Marek Hatlapatka and Petr Ullmann on behalf of Cyrrus Corporate Solutions, which was the financial advisor to the sellers.
The transaction was also handled by DRV Legal, with a team led by partner Tomáš Rada as legal advisor to the sellers.
The buyer was represented in the transaction by Kocián Šolc Balaštík led by partner Jan Lasák.
About Jet Investment
Jet Investment, a.s., an investment company founded in 1997, is managed by four partners: Igor Fait, Lubor Turza, Libor Šparlinek, and Marek Malík. The company specializes in identifying investment opportunities in medium-sized Central European companies in the manufacturing industry, which it considers to have promising growth potential and investment returns. Since 2015, Jet Investment has been conducting its investment activities through private equity funds, including Jet 1, Jet 2, and Jet 3 funds, catering exclusively to qualified investors and regulated by the Czech National Bank. Currently, the company manages significant investments in portfolio companies such as 2 JCP, TEDOM, TEDOM ENERGY, ROCKFIN, BENVIG HEAT TRANSFER, HOECKLE AUSTRIA, STROJÍRNY POLDI, KORDCARBON, FIBERPREG, and EDS GROUP, employing approximately 4,100 people. In 2021, Jet Industrial Lease (JIL) was established as a fund focused on industrial real estate investments. It manages a portfolio of nine real estate projects in Germany, the Czech Republic, and Poland.