The Jet 2 investment fund has acquired a majority stake in 2 JCP
(Brno, June 22) Through its fund of qualified investors Jet 2, the Czech-based investment company Jet Investment has acquired a 70% stake in 2 JCP, a company with a production plant in the Czech Republic and sales and technical branches in the United Kingdom and the USA. The Jet 2 Fund plans to further develop the successful supplier of filtration and acoustic solutions for leading gas turbine manufacturers and make use of synergic effects with other companies from its energy platform.
2 JCP employs a total of 315 employees in three countries and achieved approximately CZK 100 million in EBITDA last year. "In the first phase, the Jet 2 fund bought a 70% stake from three Czech owners, but we count on an option to buy another approximately 15% to present itself within four to five years. The remaining 15% will remain in possession of the group's key managers," explains Marek Palička, the project director in Jet Investment. At the same time, two of the three current Czech shareholders will remain active members of the management and will actively participate in managing and developing the company. "I took 2 JCP over from my father, who built the company from scratch. After 26 years of successful leadership, however, it is time to sceptre and find a partner with enthusiasm and sufficient resources to ensure the further growth and stability of the company. I have full confidence in Jet Investment. I believe that it will continue the work we have started, and in which I will continue to participate myself as a minority owner and manager," comments the original majority shareholder Jan Pačes on the decision to sell his share.
In the usual fashion, Jet Investment is going to develop the company. "2 JCP has a high-quality management team that has been able to build a prosperous and robust company supplying products to the world's largest OEMs. By combining their experience and our know-how, we will strive to strengthen 2 JCP's position on the gas energy market," comments Igor Fait, partner and founder of Jet Investment, on the acquisition of a company, the revenues of which have been growing at a double-digit rate in recent years. His team also plans to implement appropriate elements of a corporate governance structure to better correspond to a company operating in three countries on two continents.
Roklen Corporate Finance was an advisor during the entire sales process.
2 JCP with its headquarters and production plant in Račice and sales and technical branches in Great Britain and the USA was established in 1992. 2 JCP is a global supplier of equipment for gas turbines, submarine systems and pressure pipes, food and packaging structures. It supplies its products and services to 50 countries around the world and also 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.