Pekao IB advised Innova Capital in acquisition of PEKAES

Innova Capital is one of the leading and most experienced mid-market private equity firms in Central Europe. To date, Innova Capital has invested nearly EUR 700mn in almost 50 companies across 10 countries in the region. In December 2015, Innova Capital indirectly acquired a 63% stake in PEKAES from Kulczyk Holding and Kulczyk Investments. Following the acquisition of a nearly 34% stake in a tender offer, Innova Capital will hold almost 97% of the shares in PEKAES.

The Pekao Investment Banking advisory team worked alongside Innova Capital providing comprehensive support, coordination of the acquisition process, and strategic advice in negotiations with major financial shareholders, and, further, was the tender offer broker in the acquisition of nearly 34% of the shares in PEKAES for the equivalent of more than EUR 36mn. Subsequent to negotiations with the market, Innova Capital raised the original price by a mere 7% – the lowest price increase in all tender offer transactions this year, demonstrating an effective approach to negotiations and a thorough understanding of the selling financial shareholders.

 PEKAES is one of the largest logistics operators in Poland with 50+ years of experience in the business. The company provides comprehensive logistics services, including transport of domestic and international shipments via road, and sea, air and rail freight forwarding. PEKAES has its own LCL (less than container load) network, which encompasses 19 terminals located in Poland and, in addition, operates 3 container terminals and 5 logistics warehouses.