pehubeurope.com: Jet Investment takes majority stake at LIKOV
• Likov is based in Kurim, Czech Republic
• Radek Toman will continue to serve as Likov's CEO
Jet Investment has purchased a 70 percent stake in Likov, a European manufacturer and distributor of plastic and aluminium building profiles and construction accessories for insulation systems.
Likov is based in Kurim, Czech Republic. Its sales reached CZK1.5 billion ($66.74 million; €61.24 million) with EBITDA exceeding CZK 260 million.
The successors of the company's founders, led by Radek Toman, will remain minority owners.
Toman will continue to serve as the company's CEO.
"We are entering as an investor at a time of generational change with the goal of supporting its further development and international expansion," said Igor Fait, founding partner, Jet Investment.
Jet invested in Likov via its Jet 3 fund.
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, according to a release.
"We see growing demand in European markets for greater energy efficiency and insulation of buildings," said Petr Filka, project director at Jet Investment. "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.”
No financial details of the transaction were disclosed.
Jet Investment is a Czech-based investment company that focuses on medium- sized Central European companies in the manufacturing industry. It is based in Brno.
Jet Investment was represented in the transaction by Kocián Šolc Balaštík led by partner Jan Lasák.