Jet Investment divested the company BENVIG HEAT TRANSFER
(Brno, July 14, 2023)
The Brno-based investment company Jet Investment has sold the production engineering company BENVIG HEAT TRANSFER s.r.o., the shareholders of Montáže Přerov a.s. are on the buyer's side. along with other investors.
The subject of the transaction, which was completed on July 13, is the sale of 100% of the shares of BENVIG HEAT TRANSFER s.r.o., including the subsidiary BENVIG HEAT TRANSFER Holland. The parties involved have decided not to disclose the amount of the transaction.
The company BENVIG HEAT TRANSFER from Benešov nad Ploučnicí with 120 employees and sales of approx. 500 million CZK focuses mainly on the engineering and production of equipment for the petrochemical and chemical industry and the energy industry, its main products include air coolers, heat exchangers, industrial heaters or condensers. Most of its products are exported to Central European and Western markets.
The company has been held by Jet Investment through its fund Jet 1 (Jet Base SICAV) since 2016, when it was bought from the Dutch holding Bronswerk under the name Bronswerk Heat Transfer and subsequently renamed to the current brand name. "The company Benvig Heat Transfer originally focused on Eastern, especially Russian markets, as an investor we gradually managed to successfully establish it on the more demanding Western European markets, which, especially in connection with the war in Ukraine and the complete exit from the Russian market, we consider essential from the perspective of stability and further development of the company," says project director Oldřich Šoba for Jet Investment.
The new majority owner of the group will be the shareholders of Montáže Přerov a.s., which teamed up with other investors for the acquisition. The transaction is a logical outcome of mutual business cooperation, the new owner has been supplying construction, assembly and engineering to BENVIG HEAT TRANSFER for a long time. "Thanks to this, the entire sales process went very smoothly, in a relatively short time, the investor knows the company and is able to further develop it appropriately within his portfolio. We are handing over to the buyer a stable and profitable company with a strong position in the markets of Central and Western Europe," adds Oldřich Šoba from Jet Investment.
Following the successful divestment of PBS POWER EQUIPMENT earlier this year, the Jet 1 fund portfolio is now poised for its second strategic exit as the fund's investment horizon is reaching its conclusion.
The main advisor of the transaction on the Jet Investment side was the law firm DRV Legal.