Jet Investment will merge 2 JCP and PBS INDUSTRY into a single group
The merger of 2 JCP from the Jet 2 investment fund with PBS INDUSTRY and PBS POWER EQUIPMENT from the Jet 1 fund will take place on January 1, 2021. The investment company Jet Investment will thus create a new strong production group called 2 JCP Group.
2 JCP with a production plant in Račice and sales and technical branches in Great Britain and the USA will acquire a 100% stake in the companies PBS INDUSTRY and PBS POWER EQUIPMENT through the Jet 2 fund. The motive for the merger is primarily to simplify the management of companies and boost their efficiency, trade potential and production.
"We have already identified significant potential for business and production synergies during this year's acquisition process of 2 JCP. It soon became clear that we could make the best use of them if we fully interconnected the company's assets," comments Marek Palička, the project director of Jet Investment. Partner and founder of Jet Investment Igor Fait adds: "I am convinced that the proprietary and managerial connection of 2 JCP and PBS Group is exceptionally advantageous for both companies. It will enable full use of operational cooperation, and the increased production capacity will cover the considerable interest of business partners in the group's products. We also see many opportunities for economies of scale and for transferring the best practices between the two entities."
The joint business and production strategy should lead to an increase in PBS Group’s performance, up to three times its current EBITDA. While the strong business position of 2 JCP will help to achieve such an ambitious goal, PBS Group will provide significant production capacity. BENVIG HEAT TRANSFER, which is still 100% owned by PBS INDUSTRY, will be separated from the group and further developed on its own with an emphasis on close cooperation with the newly established sales office in the Netherlands.
The employees of both plants should not be significantly affected by the merger, apart from the inevitable shifts in the company's management positions. The acquisition of PBS INDUSTRY into the ownership of 2 JCP Group takes place under the supervision of the fund administrator and the consulting company Ernst & Young.
Background
2 JCP, based in Račice, was established in 1992. 2 JCP is a global supplier of equipment for gas turbines, submarine systems and pressure pipelines, food and packaging structures. It supplies its products and services to 50 countries around the world and has engineering offices and manufacturing facilities in North America, Europe and Asia. The company helps its customers achieve better performance and reliability through innovative air filtration, temperature and noise control solutions.
PBS INDUSTRY, based in Třebíč, has been a manufacturer and supplier of energy and heating units for more than 100 years. It specializes in welding and assembly of fuel and hydraulic tanks, frames, chassis and other welded parts for excavators, loaders and bulldozers. The company produces boilers and their accessories, steam turbine parts or rotary air heaters. PBS POWER EQUIPMENT manufactures, installs and services monobloc and power burners for the heating industry. It also provides supplies and construction of various types of turnkey boilers or special equipment for water treatment and desalination.