WHO WE ARE
We are a leading independent Czech and Slovak corporate finance advisor.
OUR FOCUS
We focus on maximizing capital value through M&A, strategic and financial advisory.
Our clients are Czech and Slovak companies and their owners, as well as foreign strategic and financial investors seeking opportunities for growth in our region.
Our Services
WHAT MAKES US DIFFERENT?
GLOBAL REACH
We are the exclusive partner of the leading global investment bank Rothschild & Co. for the Czech Republic and Slovakia.
We mutually share our knowledge of the local markets and sector know-how with Rothschild & Co.
INDEPENDENT
As an advisory company independent from any financial, industrial or banking group, CORPIN has no conflicts of interest and always acts in the sole interest of its clients.
EXPERIENCED
Founded in 2007, we have since participated on tens of transactions. The experience of our managing partners goes, however, far beyond CORPIN’s foundation.
To this date, our team has over 115 years of combined professional experience from transactions worth more than EUR 13 billion.
TRUSTED
We build long-term relationships with our clients, approaching them with our vision of independent advisory to truly maximize shareholder value. As a trusted partner, the clients often return to us.
TOP 1
1ST PLACE IN THE PRESTIGIOUS CVCA AWARDS 2021 COMPETITION - ADVISOR, FUNDING BANK, INSURANCE PROVIDER
112
TRANSACTIONS IN OUR CAREER
115
YEARS OF COMBINED EXPERIENCE
TOP 1
ADVISING ON THE LARGEST TRANSACTION IN THE CZECH REPUBLIC IN 2016
112
TRANSACTIONS IN OUR CAREER
100
YEARS OF COMBINED EXPERIENCE
M&A
We offer comprehensive advisory services in the area of mergers and acqusitions (M&A) for mid-sized and large companies.
STRATEGIC ADVISORY
We provide assistance in decision-making on investments, divestments and other key processes in the area of capital allocation.
FINANCIAL ADVISORY
We provide advice
on selection of the optimal
capital structure, strategy and capital raising.
VALUATION & FAIRNESS OPINIONS
Using our valuation expertise, we offer our clients objective analyses, expert opinions and valuations of their businesses and securities.
ADVANCED AIRSEA
- Sector: Logistics
- Client: Advanced s.r.o.
- Year: 2023
- Deal value: confidential
CORPIN acted as an exclusive financial advisor to the founder and the sole shareholder, Mr Jakub Wiedermann, on selling a 70% share in Advanced Airsea s.r.o. („Airsea“), the leading asset-light freight forwarder in Czechia and Slovakia, to Savino Del Bene S.p.A („SDB“), an Italy-based freight forwarder with a global presence, whose minority shareholder is Mediterranean Shipping Company S.A., the world leader in container shipping.
For over 20 years, Airsea has been organizing customized transport solutions worldwide and has established itself as the primary freight forwarding partner to Czech and Slovak exporters. Airsea‘s comprehensive logistics service offering spans from regular shipments, like containers and parcels, to oversized and hazardous goods throughout the world by road, sea and air. The transaction included the 30% sale in Airsea‘s adjacent business, Advanced Road, a nimble venture focused on speciality transports.
SDB, founded in 1899, is a multinational company that offers international tailor-made shipments and logistics support services for various industries. With a network of more than 306 offices spanning five continents, SDB generated EUR 4.5 billion in revenue in 2022.
EBRD
CORPIN in co-operation with ENVIROS represents the interests of the European Bank for Reconstruction and Development in the Czech Republic. The task is to strengthen EBRD's cooperation with Czech companies in their cross-border activities in the regions where the EBRD operates. The role of the Business Development Consultant is held by Karel Bureš, Managing Partner.
DIRECT POJIŠŤOVNA
- Sector: insurance
- Client: Vigo Investment
- Year: 2022
- Deal value: confidential
CORPIN elaborated an independent valuation report for Vigo Investments (“Vigo”) with the aim to determine the 100% share value of its subsidiary, Direct Pojišťovna, a.s. (“Direct”).
The valuation report was used for implicit determination of LTV at the occasion of issuance of corporate bonds directly secured with 100% shares of Direct.
Direct is the fastest growing non-life insurance undertaking on the Czech market in terms of the number of clients as well as the written premium amount. Direct provides services to more than 500,000 customers and has been repeatedly awarded as the most client-friendly insurance company.
RIVERROCK
- Sector: industrial production
- Client: RiverRock European Capital Partners
- Year: 2021
- Deal value: confidential
CORPIN acted as the exclusive financial advisor to RiverRock European Capital Partners (“RiverRock”) during the restructuring of its debt exposure in VITRABLOK, s.r.o. (“Vitrablok”).
The mandate of CORPIN consisted in a complete revision of the commercial terms and conditions of the debt facility provided to Vitrablok, analysis of the financial performance of Vitrablok, and examination of exit opportunities with subsequent assistance during negotiations on refinancing.
RiverRock is a European investment company that focuses on alternative investments, namely on the provision of alternative funding for SMEs.
Vitrablok is a leading manufacturer of glass bricks that delivers products to B2B and B2C customers all over the world. The company, known under the trademark of Seves Glass Block, offers various shapes and colour versions of glass blocks and bricks.
EUROWAG
- Sector: technology, IT
- Client: Martin Vohánka and TA Associates
- Year: 2021
- Deal value: 205 mil. GBP
Rothschild & Co, with the support of CORPIN, acted as the exclusive financial advisor to W.A.G. Payment Solutions plc (“Eurowag”) and its majority shareholders, the founder, Martin Vohánka, and TA Associates, an American private equity fund, in the initial public offering (IPO) on the London Stock Exchange (LSE).
The market value of Eurowag‘s subscribed shares totalled GBP205m on the IPO day. The attained valuation of subscribed shared implied market capitalisation amounting to GBP1bn.
Eurowag is a technological company integrating digital payment services for fuel, toll, tax refunds and other associated services for commercial trucking. Eurowag uses proprietary technology for the integration of offered services. The company was founded in 1995 by Martin Vohánka.
TA Associates is one of the oldest private equity companies on the market that invests into technological SMEs in their growth stage.
ČESKÁ ZBROJOVKA
- Sector: defence technologies
- Client: Česká zbrojovka Group
- Year: 2021
- Deal value: 220 mil. USD
Rothschild & Co, with the assistance of CORPIN, acted as the exclusive financial advisor to Česká zbrojovka Group (“CZ Group”) during the acquisition of Colt Holding Company LLC (“Colt”), an American arms manufacturer. The acquisition will help strengthen the presence of the CZ Group n the North American market with access to new production capacities.
The mandate in CORPIN consisted in the identification of suitable acquisition targets for the CZ Group across the world. Rothschild & Co provided support to the CZ Group in the acquisition of Colt during the follow-up acquisition phase.
The CZ Group is an important European manufacturer of small arms. In 2020, their profit amounted to EUR42m, and the Group sold over 467,000 arms.
Colt is a traditional American small arms manufacturer with a history dating back to 1836, when Samuel Colt had his revolver patented. Colt is the exclusive supplier for the US Army.
UMBRELLA COACH AND BUSES
- Sector: passenger transport
- Client: Umbrella Coach & Buses
- Year: 2020 - 2021
- Deal value: confidential
CORPIN acted as the exclusive financial advisor to the company Umbrella Coach & Buses in securing new financing with state guarantee provided by the Export Credit Agency EGAP under the State Program COVID Plus.
The Umbrella Group, a strong exporter and the largest service provider for FlixBus can utilize the new funds to modernize its bus garage and service center and bridge the period of lower international passenger transport, while strengthening its position in the competitive passenger transport market.
CORPIN assisted in arranging all necessary documents, negotiating with all stakeholders and supervising the entire debt advisory process.
POROVNEJ24.CZ, NETFINANCIE.SK
- Sector: insurance, e-commerce
- Client: Netrisk group
- Year: 2021
- Deal value: confidential
CORPIN acted as a financial adviser to Netrisk Group, Hungary and Czech Republic-based on-line insurance broker and price comparison engine backed by the U.S. fund of the global growth private equity firm TA Associates, together with Polish fund MCI on the acquisition of several price comparison websites in the Czech Republic and Slovakia, centered around the main domains porovnej24.cz and netfinancie.sk from a group of investors.
Having acquired Klik.cz and Klik.sk in 2020 (where CORPIN advised the sellers), this transaction significantly strengthens the market share of Netrisk Group in the Czech Republic, whilst providing significant synergy potential with Klik.cz’s existing operations and profitble presence in Slovakia via Netfinancie.
FERMAT
Fermat
- Sector: general engineering
- Client: Fermat Group
- Year: 2020
- Value: confidential
- CORPIN acted as the exclusive debt advisor to the company FERMAT in securing new financing with credit insurance provided by the Export Guarantee Insurance Company EGAP under the State Program COVID +.
- The Fermat Group, a strong exporter and a global manufacturer of accurate machine tools can utilize the new funds to maintain the production process, employment as well as the innovation program and seize a market opportunity to strengthen its position in a highly competitive market.
- CORPIN assisted in arranging all necessary documents, negotiating with all stakeholders, and supervising the entire transaction process.
KLIKPOJIŠTĚNÍ.CZ
KLIK pojištění.cz
> Sector: insurance, e-commerce
> Client: Benson Oak and other shareholders
> Year: 2020
> Deal value: confidential
CORPIN acted as an exclusive financial adviser to the investors led by Benson Oak, with respect to their sale of a 100% stake in the online insurance broker Klikpojištění.cz, a.s. („Klik“) to Hungary-based Netrisk. Since January 2020 the main investor in Netrisk has been U.S. fund of the global growth private equity firm TA Associates, together with the ongoing minority participation of the previous owner, Polish fund MCI.
Klik has successfully built an online insurance broker from scratch, operating on the Czech and Slovak markets, using innovative marketing and conversion strategies that enable high profitability combined with still strong growth of the customer base, revenues and average underwritten premiums.
CORPIN provided services related to transaction management and structuring of the whole transaction, analytical support and due diligence, including negotiation of all the detailed terms with TA Associates.
RENOMIA
- Sector: insurance
- Client: RENOMIA a.s. and its shareholders
- Year: 2019
- Deal value: confidential
- CORPIN acted as an exclusive financial adviser to RENOMIA, a. s. and its shareholders on the transaction, where one of the leading global insurance brokers Arthur J. Gallagher & Co. from the USA (“AJG”) acquired a minority stake of 30% in RENOMIA, including substantial increase of equity capital in RENOMIA subscribed by AJG, aimed primarily at acquisitions. AJG is listed on NYSE.
- This transaction is an important milestone in our long-term client relationship with RENOMIA, which is based, among other, on our deep knowledge and credentials in the insurance sector.
- With intermediated gross premium well over CZK10bn (c.€400m) RENOMIA, HQ-ed in Brno and Prague, is the largest independent, corporate insurance broker in the CEE region. RENOMIA operates in 7 countries via own-staffed branches or subsidiaries. It is family-owned firm, founded by its CEO and Chairman of the Board, Ms Jirina Nepalova.
- CORPIN provided services related to financial analysis, valuation, transaction management and structuring of the whole transaction, including negotiation of all the detailed terms with AJG.
MELOWN TECHNOLOGIES
- Sector: IT
- Client: Helifreak Limited (owner of Seznam.cz, a.s.)
- Year: 2019
- Deal value: confidential
- CORPIN acted as the exclusive financial advisor to Helifreak Limited (owner of Seznam.cz, a.s.) on the sale of a 100% stake in the technology company Melown Technologies SE („Melown“) to a global technology company based in Sweden, Hexagon AB.
- Melown Technologies is a leading Czech software developer focused on the digitization and virtualization of both urban and natural landscape into 3D based on 2D aerial and satellite imagery, using computer vision and machine learning. Besides that it also develops open source streaming and rendering technology for 3D geospatial content.
- Melown will become a part of Hexagon’s subsidiary Leica Geosystems AG; Leica, well-known for its optical hardware, is now focused primarily on highly specialized services for creators and users of digital geospatial data, including the largest providers of this type of services in the B2C segment. Melown’s technology and its highly capable team of software engineers will substantially increase Leica’s competitive advantages and will allow further rapid product and technology development.
- CORPIN in cooperation with Rothschild & Co conducted world-wide marketing of Melown, primarily in the defence, geospatial, gaming and automotive industries, and Hexagon’s offer came out as the best for Helifreak.
CS FILM
- Sector: media
- Client: Shareholders of Československá filmová společnost
- Year: 2019
- Deal value: confidential
- CORPIN acted as the exclusive financial advisor to the partners of Československá filmová společnost, s.r.o. (“ČSFS“) in the sale of a 100% stake in ČSFS to Slovenská produkčná, a.s., part of the JOJ Media House, a.s.
- ČSFS operates thematic TV channels CS film, CS mini, Horror film, War TV, Kinosvět and online video portal Film popular on the Czech and Slovak markets. Pay-TV channels CS film, CS mini and War TV together with a free-to-air broadcast of Kinosvět together reach 257,000 viewers. In the Czech and Slovak Republics, Pay-TV channels are subscribed by more than 1.8 million viewers, Kinosvět covers about 85% of the population in the Czech Republic.
- JOJ Group is the only Slovak nationwide TV commercial player who also operates on the Czech media market. It has 7 TV channels in its portfolio (JOJ, PLUS, WAU, RiK, Ťuki TV, JOJ Cinema and JOJ Family) and 20 internet portals (joj.sk, plus.sk, wau.sk, rik.sk, cinema.joj.sk, jojfamily.cz, videoportál.sk, nadacia.joj.sk, huste.tv, noviny.sk, europskenoviny.sk, topstar.sk, miestopremuza.sk, prezenu.sk, kinosala.joj.sk etc.). JOJ Group also has experience with selling foreign channels on the Slovak market - it sells TV channel Prima Plus of the Czech FTV Prima broadcaster to clients in Slovakia. JOJ Group's advertising trading portfolio in the Slovak market includes high-quality thematic televisions Minimax, Spectrum, AMC, Sport 1 and Sport 2 from AMC Networks International.
- The transaction also confirms CORPIN / Rothschild & Co's leading position in the TMT (Technology, Media, Telecommunications) sector in the Czech Republic and Slovakia. Examples of our latest TMT mandates include RIO Media, Slevomat, Benestra, Invia, Towercom, Communicorp, Skylink and more.
- Link to press release is available here.
ARCELORMITTAL OSTRAVA – GO STEEL FRÝDEK MÍSTEK
ArcelorMittal Ostrava - GO Steel Frýdek Místek
- Sector: steel
- Client: ArcelorMittal Ostrava
- Year: 2018
- Deal value: up to EUR40m
- We would like to proudly announce that CORPIN, supported by Rothschild & Co., acted as the exclusive financial advisor to ArcelorMittal on the sale of GO Steel Frýdek Místek a.s. (“GO Steel”) to Poland-based Stalprodukt S.A. (“Stalprodukt”).
- GO Steel is a world class producer of electrical steel with history dating back to 1833 and located in the Czech Republic. Its key product, electrical steel, is a global product sold to customers worldwide.
- Stalprodukt is a leading manufacturer and exporter of highly processed steel products: transformer electrical steels, cold-formed sections, road barriers and toroidal cores. Stalprodukt has been listed on the Warsaw Stock Exchange since 1997.
- The transaction also proves CORPIN’s ability to successfully secure mandates and complete transactions from clients for whom CORPIN already worked in the past.
- More information about the transaction (in Polish language) is available here andhere.
KORDÁRNA
- Sector: textile and automotive industry
- Client: Jet Investment and related shareholders
- Year: 2018
- Deal value: confidential
- Rothschild & Co and CORPIN provided exclusive financial advisory services to the group of shareholders, led by the partners of Jet Investment, Brno-based private equity firm, in their joint disposal of 100% equity stake in KORDÁRNA Plus a.s. ("Kordárna"), located in the Czech Republic and Slovakia, to Indorama Ventures Public Company Limited ("Indorama").
- Kordárna is a leading European producer of tire cords and other technical fabrics mainly for the automotive industry and conveyor belts. Prior to transaction, Kordárna was the only independent manufacturer of this kind in Europe. Tire cord fabrics represent about 75 % of Kordárna’s sales. Kordárna has a broad customer base and long-established relationships with major global tire companies and is strategically located in the European automotive industry hub. Its products are supplied to customers in more than 15 countries in Europe, North America, South America and Asia (www.kordarna.cz).
- Indorama, listed in Thailand, is one of the world’s leading integrated petrochemicals producers with customers across Africa, Asia, Europe and North America. The company’s portfolio comprises necessities and high value-added categories of polymers, fibres and consumer packaging, selectively integrated with self-manufactured ethylene oxide/glycols and PTA. Indorama serves major FMCG and automotive sectors in the areas of beverages, hygiene, personal care, tire and safety segments. Indorama Ventures has approx. 15,000 employees worldwide and consolidated revenue of US$8.4bn in 2017 (www.indoramaventures.com).
- The sale process was led as a competitive, international and multi-round tender which ensured price maximization and facilitation of contractual terms.
SLEVOMAT
- Sector: ecommerce
- Client: Enern, Miton and shareholders
- Year: 2017
- Deal value: confidential
- CORPIN, supported by Rothschild, acted as the exclusive financial advisor to Enern, Miton and shareholders on the sale of Slevomat group to the UK-based group Secret Escapes Ltd., representing the third largest e-commerce transaction in the Czech Republic. Secret Escapes has become the 100% shareholder of the Czech Slevomat.cz, Slovak Zlavomat.sk and Czech deals aggregator Skrz.cz.
- Slevomat was established in 2010 by Tomáš Čupr together with Romana Sudová and Petr Bartoš. Investment group Miton subsequently entered the company, followed by Enern group and In-Bridge in 2011. Slevomat group has undergone a turbulent growth since 2010, from the roots inspired by US servers providing group deals to today’s business model offering inspiration and experiences in travel, entertainment, personal services and specialty goods. The group provided experiences and services in the value of almost CZK2bn in 2016 and daily visits counted between 200 and 300 thousand users.
- The sale process was led by CORPIN as a highly competitive, international and multistage tender which ensured price maximalisation and facilitation of contractual terms negotiation. An important component of the success was also represented by providing so-called Vendor Due Diligence reports to pre-selected bidders before non-binding bids as well as by a high quality management presentation.
- Secret Escapes is one of leading global online sellers of luxury travel which offers to its members exclusive rates in selected luxury hotels. The group was founded in 2011 in Great Britain and at the time of the transaction was present on 21 markets in Europe, North America and Asia. Many significant investors, including Google Ventures, Index Ventures and many others, have invested into Secret Escapes.
RIO MEDIA
- Sector: Telecommunications
- Client: ARGUS Capital
- Year: 2017
- CORPIN, supported by Rothschild & Co., acted as exclusive financial adviser to ARGUS Capital on the sale of RIO Media to Kaprain Industrial Holding Limited.
- RIO Media is the third largest Czech internet, video and fixed voice services provider for both retail and business customers. RIO Media covers with its deep fiber-to-the-home network infrastructure over 30 cities nationwide and has 110 thousand homes connected on its fixed network as well as over 60 thousand homes passed on its wireless network. It was established in 2008 by ARGUS Capital through the acquisition of six companies, which were subsequently fully integrated into one entity.
- ARGUS Capital was established in 1998 and became one of the first private equity firms active in Central and Eastern Europe. With total commitment above € 400 million in its two funds, ARGUS has invested in 18 companies including several successful investments in the Czech Republic, e.g. the broadband internet provider RIO Media, the commercial printer Svoboda Press and the multiplex cinemas operator Palace Cinemas.
- Kaprain Industrial Holding is an investment group founded in 2013 by Karel Pražák. Since its foundation, Kaprain has focused on three key investment areas: industry, real estate and financial services. RIO Media’s acquisition strengthens Kaprain’s position among the Czech Internet and TV operators. Kaprain already owns another important provider: Nej.cz.
- Sale process was managed by us as a highly competitive, international, multi-round tender which ensured price maximization and simplification legal terms negotiation.
- The transaction also demonstrates CORPIN / Rothschild & Co. leading position in advising on TMT situations in the Czech and Slovak Republics (Slevomat, Benestra, Invia, Towercom, Communicorp, Skylink - mandates within the last six years).
ASAHI
- Sector: food and drink industry
- Client: Asahi
- Year: 2017
- Deal value: EUR 7.3 bil.
- Rothschild, supported by CORPIN, advised the Japanese group Asahi on their acquisition of SABMiller CEE from AB InBev in a record value of EUR 7.3 bil.
- In October 2016, Asahi completed the acquisition of the former businesses of SABMiller in Italy, the Netherlands and the United Kingdom, principally including the Peroni, Grolsch and Meantime brands, and now we have added SABMiller’s Central European businesses to that portfolio. Through this transaction, Asahi is proud to say that it has teamed up with a world-class brewer with leading brands such as Tyskie, Lech, Timisoreana, Dreher, Ursus and Saris, and of course the world’s first golden lager, Pilsner Urquell.
ASSA ABLOY
- Sector: automotive
- Client: ASSA ABLOY
- Year: 2016
- Deal value: EUR 17 mil.
- Rothschild, assisted by CORPIN, acted as the exclusive financial advisor to ASSA ABLOY in relation to disposal of its entire Car Lock business, head-quartered in Týniště nad Orlicí, Czech Republic, with operations in Germany, Mexico, China and Switzerland.
- The Car Lock business, which achieved sales of €60m in 2015 and employs approximately 450 people, was sold to the Japanese automotive parts maker ALPHA Corporation after a successful competitive two-stage auction process, which was framed in a challenging state at one of the businesses’ key customers - a large European automotive group.
HAMÉ
- Sector: FMCG
- Client: Nordic Partners
- Year: 2016
- Deal value: EUR 175 mil.
- Our partners from Rothschild, supported by CORPIN, have acted as a financial adviser to the shareholders of Hamé in connection with the sale of 100% equity interest in Hamé to Orkla, one of the leading food conglomerates in Scandinavia. Hamé is the leading food producer based in the Czech Republic.
- The transaction was a result of a complex, competitive tender process run by Rothschild and supported by CORPIN and Rothschild’s Baltic affiliate Porta Finance. Sale of Hamé was affected by several challenging aspects, including the ongoing operational changes among the leading European food conglomerates, pressure on margins and growth of food companies originated by large international retail chains in the Czech and Slovak food markets and significant currency depreciation in Russia, where Hamé has its own production facility. Despite these challenges the sale was finally agreed at satisfactory valuation levels.
- This transaction highlights the importance of generating interest from large strategic investors upon sale of companies in Central Europe, as these types of investors usually demonstrate solid transaction certainty and valuation benchmarks. Interest from strategic buyers is best generated in case of transactions that are very well prepared and where a number of strategic investors are approached by a highly credible international adviser.
INVIA
- Sector: travel industry
- Client: MCI Management S.A. a akcionáři
- Year: 2016
- Deal value: 76 mil. Euro
- Rothschild and CORPIN acted as an exclusive financial advisor to the Polish private equity group MCI Management S.A. in relation to disposal of the online travel agent Invia, leader in the online travel market in CEE, for €76 million.
- Invia is the biggest online agent for travel packages in the Czech Republic, Slovakia and Poland (via its majority-owned subsidiary TravelPlanet.pl), and is the second biggest player in this segment in Hungary.
- Invia Group, which achieved consolidated revenues of c. €30 million and sold travel services (mainly travel packages, its main focus) in the value of c. €260 million to approximately 160,000 customers, was sold to the Prague-based investment company Rockaway Capital after a competitive auction process organized by Rothschild and CORPIN.
- This landmark transaction is the largest deal in online-distributed B2C services in the Czech Republic and Slovakia.MCI’s press release detailing the transaction can be found here.
BENESTRA
- Sector: telecommunications
- Client: Benestra
- Year: 2016
- Deal value: confidential
- Rothschild, supported by CORPIN, acted as the lead financial advisor to the shareholders of BENESTRA (being a consortium of international private equity firms including Innova Capital, Columbia Capital, HarbourVest Partners, M/C Partners, Oak Investment Partners and Bessemer Venture Partners) on the disposal of 100% shares of BENESTRA to Sandberg Capital.
- BENESTRA, formerly GTS Slovakia, is a B2B focused national telecommunications operator that provides a comprehensive portfolio of voice, data, internet, and hosting services. The company entered the Slovak market in 1999 and operated under the BENESTRA brand since 2014.
- The disposal of BENESTRA represented the last step for the company’s shareholders to close their investments in the GTS Central Europe group which was acquired by Deutsche Telekom AG in 2014.
WALMARK
- Sector: pharmaceutical industry
- Client: ATERNUS
- Year: 2015
- Deal value: confidential
- COPRIN acted as exclusive financial advisor to ATERNUS and its shareholders, founders of WALMARK, in relation to disposal of their remaining 50% share on voting rights in WALMARK to the owner of other 50%, fund managed by Mid Europa Partners („MEP“), one of the largest western-type private equity funds focused on Central and Eastern Europe.
- This second mandate from the same client follows successful assignment completed in December 2012, when first 50% was sold to MEP and de facto 50/50 joint venture with MEP was set up.
- After almost three years of cooperation with MEP, founding shareholders of Walmark decided to pursue other investment and life opportunities and important transaction was completed after complex negotiations in mid-2015. More info to be found in press release here.
BROKER CONSULTING / MBANK
- Sector: financial services
- Client: Broker Consulting
- Year: 2015
- CORPIN provided advisory support to its long-term client Broker Consulting in relation to establishment of a strategic commercial alliance with the internet bank mBank. This partnership brings a new element to the Czech market of retail financial services – a mutually advantageous partnership between a traditional network of independent financial advisers of Broker Consulting and a progressive internet bank. mBank is Poland-based bank, majority-owned by German-based Commerzbank.
- CORPIN has led an advisory support to Broker Consulting throughout the whole time, starting with a series of discussion with various banks operating in the Czech market. As a result of this process mBank was identified to have the optimal mix of advantages, including, based on their experience in markets outside of the Czech Republic, a solution that does not compromise Broker Consulting’s position as an independent, multi-provider of financial advise. More information can be found in press announcement here (in Czech only).
- This transaction is another successful step in a long-term advisory partnership between CORPIN and Broker Consulting, which included also another unique innovation in the Czech market back in 2013 – a life insurance product „OK Double“, which fully utilizes advantages of the single European financial services market, as the product is provided by a German life insurance company and fully underwritten by the world’s largest life reinsurance company, SCOR, without any participation of Czech-based insurance providers.
GGE
- Sector: energy
- Client: GGE and its shareholders
- Year: 2015
- Deal value: confidential
- Infracapital, the infrastructure investment arm of M&G Investments, has acquired 100% interest in Slovak utility company GGE a.s. (“GGE”),
- GGE operates within the energy sector in Central and South‐Eastern Europe. Its principle business activities include the production and distribution of heat and electricity, gas and electricity supply and energy construction services. GGE operates power plants with a total capacity of 303MW, including a state-of-art natural gas-fuelled Combined Heat and Power (CHP) plant in Považská Bystrica, and distribution networks in Slovakia. The company enjoys a strong market position in Slovakia, operating within a stable regulatory framework, and has substantial growth opportunities in the region.
- Infracapital is the infrastructure investment arm of Prudential. Infracapital has over £2.4 billion funds under management, and a team of 25 investment professionals with investment, management and operational expertise. Infracapital’s approach to investment offers long-term value through the acquisition and active management of a diversified portfolio of core European infrastructure assets. Target sectors include utilities, essential transportation, renewables and communications infrastructure.
- CORPIN is exclusive financial adviser to the shareholders of GGE.
- Infracapital’s press release is available here.
ARCELORMITTAL OSTRAVA
- Sector: energy
- Client: ArcelorMittal Ostrava
- Year: 2015
- Deal value: confidential
- Advising on strategic options of ArcelorMittal Energy Ostrava and the foundation of JV with TAURON Polska Energia. More information can be found here.
HAMPDEN INVESTMENTS
- Sector: telecommunications
- Client: Hampden Investments
- Year: 2014
- Deal value: confidential
- Macquarie European Infrastructure Fund 4 (MEIF4) acquired 100 per cent of Slovak communications infrastructure business Towercom a.s. (Towercom). MEIF4’s third investment, Towercom owns and operates a comprehensive asset base of 685 tower sites in Slovakia, providing nationwide television and radio broadcast coverage across the country, under long-term contracts with public and commercial broadcasters. In addition, its satellite division provides uplinking services to most Slovak television channels, and its mobile site rental business hosts the country’s largest mobile operators.
- MEIF4 is the latest in a family of European Infrastructure Funds managed by Macquarie Infrastructure and Real Assets (MIRA). Headquartered in London, MIRA is the world’s largest private manager of infrastructure investment, managing funds on behalf of pension funds, insurance companies, governments and other long-sighted investors who invest in MIRA-managed funds. MEIF 4 acquired Towercom from Hampden Investments Limited.
VARS BRNO
- Sector: IT
- Client: VARS Brno
- Year: 2014
- CORPIN was adviser to Mr Tomáš Miniberger with respect to his disposal of 70% in VARS Brno to VINCI Energies group. Mr Miniberger established the company with his wife in the early 1990s based on a technology company, that he acquired within the Czech privatization process. VARS is a progressive IT company that has developed as a leading Czech expert on GIS and CAD software, into the Czech leader in ITS (Intelligent Transport Systems). VARS is also engaged in the Big Data business via its division that focuses on engaged in digitalization of the public infrastructure asset management.
- 30% in VARS was transferred to a company under the control of Mr Miniberger jr., who has been company’s CEO for many years. CORPIN managed the advisory work related to the choice of optimal transaction structure, minority rights protection and setting up rights related to the future sale of the 30% to the VINCI Energies group.
- Finding VINCI Energies as a suitable investor was preceded by a thorough international tender process and negotiation with various strategic investors, under the advisory leadership of CORPIN.
- See more in the press release here.
COMMUNICORP
- Sector: media
- Client: Communicorp Group Ltd.
- Year: 2013
- Deal value: confidential
- Together with Rothschild, CORPIN acted as the exclusive financial adviser to the leading Irish media company Communicorp Group Ltd. on disposal of its radio business in the Czech Republic that includes radios Kiss, Beat, Country, Radio 1, Spin and Jizera.
- The radio network of Communicorp Group had almost 11% radio listenership market share in 2012. The acquirer is a Czech group GES, that already operates Czech multi-regional radio network Hey! with market share of 1.5% and owns 50% in TV Prima, a nationwide commercial television. Thanks to the acquisition, GES has significantly enlarged its business influence on the Czech media market.
ALPHA MEDICAL
- Sector: healthcare industry
- Client: Penta Investments
- Year: 2012
- Deal value: confidential
- Under Rothschild’s leadership CORPIN acted as the exclusive financial adviser to Penta Investments in its successful disposal of its in-vitro human laboratory diagnostic business trading under the Alpha Medical and Aeskulab brands in Slovakia, the Czech Republic and Poland.
- In 2011/2012 Penta reviewed its significant equity investment in the healthcare sector and decided to offer to investors its matured in-vitro diagnostic business. Rothschild/ CORPIN was selected to organize competitive tender process, based primarily on Rothschild’s extensive global experience in the healthcare sector and particularly in the diagnostic services.
- Accelerated sale process that we have organized with Rothschild has resulted in several offers from various investors and it was preceded by a thorough preparatory process, which included vendor due diligence. The Alpha Medical group was eventually acquired by funds from the MEP group towards the end of 2012.
- Successful conclusion of this transaction meant not only a financial gain for our client Penta Investments, but also fulfilment of its ultimate strategic objective – reorganization of their healthcare interests and possibility to focus on areas with better development potential in healthcare.
- See more in the press release here.
WALMARK
- Sector: healthcare
- Client: Walmark
- Year: 2012
- Deal value: confidential
- Together with Rothschild CORPIN acted as the exclusive financial adviser to WALMARK, a.s. and its shareholders (Czech private individuals) in the process of defining new overall ownership strategy of the company. Within this search for new strategy WALMARK has conducted informal discussions with various strategic and financial investors, which led to the partial equity investment in WALMARK by one of the most significant private-equity investors in Central and Eastern Europe, the MEP funds.
- Partnership between the founding shareholders of WALMARK and MEP is expected to bring WALMARK to the next level of its development by combining entrepreneurial approach of the founding WALMARK shareholders with the skills of the new financial partner – namely new capital, skills in managing and steering large companies and new fresh view on company’s market strategy, with the objective to provide all shareholders an opportunity for an optimal exit in several years time, or opportunity to the partners to acquire changed company from the fellow shareholders.
- CORPIN played a crucial role in all phases of this project, notably in negotiation of specific terms of the partnership with MEP, in due diligence and in interaction with other investors, which were also interested in a transaction with WALMARK.
- See more in the press releasehere.
SKYLINK
- Sector: telecommunications
- Client: Menghem Equity Limited
- Year: 2012
- Deal value: confidential
- CORPIN supported by Rothschild have advised Menghem Equity Limited on disposal of Trade and Technology a.s., a Czech provider of DTH-Satellite services in the Czech and Slovak Republics operating under the brand name Skylink (“Skylink”), to Luxembourg based M77 Group S.A. (“M77”).
- The transaction was closed on 30 September 2011 i.e. in less than five months from launch of the competitive process. We have acted as exclusive financial adviser to Menghem on this transaction.
- Skylink is the largest Direct to Home – Satellite TV (DTH) operator in terms of number of customers in the Czech and Slovak Republics, where it currently has more than 1.5 million customers.
- M77 is a M7 Group affiliate. M7 Group owns following satellite players: Canal Digitaal (the Netherlands); TV Vlaanderen (Belgium); TeleSAT (Belgium and Luxembourg); and AustriaSAT (Austria).
- The acquisition of Skylink by M77 follows the acquisition of CS Link - active in the same countries - earlier this year. The platforms of CS Link and Skylink jointly serve over 2.1 million TV households, with an ever increasing number of HD customers.
GENESIS PRIVATE EQUITY
- Sector: engineering
- Client: Genesis Private Equity
- Year: 2011
- Deal value: confidential
- CORPIN acted as exclusive financial adviser to Genesis Private Equity Fund in its disposal of one of the five Czech leading electrical switchboard producers, ESB Rozvaděče. The new owner, ESB Elektro, a.s. was established by the current and previous management of Energetické strojírny Brno, accompanied by a sector investor. In 2010 ESB Rozvaděče achieved sales of CZK301m and EBIT of CZK15.4m.
- This transaction represents another successful exit by Genesis from part of its investment into Energetické strojírny Brno, which was acquired in 2006. The electrical switchboard production was historically operated as a division of Energetické strojírny and later in October 2007 separated into the new legal entity – ESB Rozvaděče, a.s.
MCBRIDE
- Sector: FMCG
- Client: McBride plc
- Year: 2010
- Deal value: CZK 240 mil.
- COPRIN acted as financial advisor of McBride plc on the acquisition of Dermacol, a.s., Czech leader in manufacturing of skincare products. McBride is one of the largest European manufacturers of household products which focuses on “private label” solutions for its major retail clients.
- CORPIN identified this opportunity for McBride among other acquisition opportunities which we presented to the top management of McBride together with our partners from Rothschild.
- Due to our knowledge of the market CORPIN identified strategic synergy between: (i) McBride, which obtains a high quality skincare manufacturing facility, which is a segment with high growth potential of private label products in Europe, and (ii) the seller, significant Czech commercial firm Alphaduct, which will focus now on development of Dermacol brand whose ownership will remain with Alphaduct and the Dermacol brand production will continue under the new experienced manufacturer McBride. Thanks to this acquisition McBride obtains not only a modern production facility in Brno but also attractive cosmetic product formulas which fully fits with McBride’s strategy to become a European leader in the segment of manufacturing of cosmetic and other skincare products. Brno-based Dermacol a.s. has a potential to become a significant supplier of skincare products for the whole Europe.
- McBride acquired 70% in Dermacol for a total consideration of approx. CZK240m (the consideration is split and subject to financial performance), while the remaining 30% in Dermacol will be acquired in 2018, for a price which is also subject to a financial performance.
- McBride plc is UK listed company, manufacturer and supplier of household and personal care products (MCB:LSE).
- McBride plc is UK listed company, manufacturer and supplier of household and personal care products (MCB:LSE).The press release is available here.
EUROPASTA
- Sector: food industry
- Client: Europasta
- Year: 2010
- Deal value: confidential
- 50:50 joint-venture between Europasta and privately owned food companies Gallo (Spain) and Cerealis (Portugal), structured as a sale of a half of existing equity ownership interests held by the former Czech shareholders. Gallo and Cerealis belong to the leading Western European producers of pasta as well as wheat and other cereal-based products. The objective of the transaction is to strengthen Europasta’s know-how in marketing and product development as well as to support acquisition growth in Central and Eastern Europe to become a leading pasta producer in the CEE.
GENESIS PRIVATE EQUITY
- Sector: energy
- Client: Genesis Private Equity
- Year: 2010
- Deal value: CZK 149 mil.
- CORPIN acted as exclusive financial adviser to Genesis Private Equity Fund in its disposal of 100% equity ownership in JM-montáže to GA Energo technik. This transaction represents very successful exit by Genesis from part of its investment into Energetické strojírny Brno, an electrical engineering firm based in Brno, Czech Republic. JM-Montáže will enable GA Energo technik to substantially expand its market share in construction and servicing of all levels of electrical current transmission equipment in the Czech Republic. German-based GA Energo has turnover equal to EUR3bn and is part of Alpiq Holding, company quoted on a Swiss stock exchange.
- Genesis is a private equity and venture capital fund operating in the Czech and Slovak Republics.
HERBACOS-BOFARMA
- Sector: pharmaceutical industry
- Client: Herbacos-Bofarma
- Year: 2009
- Deal value: EUR 19 mil.
- CORPIN with Rothschild advised Bochemie a.s. and other shareholders of Herbacos-Bofarma, s.r.o., during the disposal to the Italian pharmaceutical company Recordati SpA. Herbacos-Bofarma is a pharmaceutical company with a portfolio of leading generic and OTC drugs marketed in the Czech and Slovak markets.
- The whole project was organised by the CORPIN and Rothschild at the time of the deepest economic and financial crisis of late 2008 and 2009 in the standard competitive sales process.
ZENTIVA
- Sector: pharmaceutical industry
- Client: Zentiva
- Year: 2009
- Deal value: EUR 2.3 bil.
- As part of Rothschild’s team CORPIN provided independent advisory services to non-executive directors of ZENTIVA N.V., leading CEE pharmaceutical company, in connection with a public market offer, made in 2008 which led ultimately to the acquisition of the company by Sanofi-Aventis.
- This transaction was unique in the Czech capital market, as it was the first real public market takeover offer made for a large company, listed on the Prague Stock Exchange and the first, which was carried out under revised Czech law on capital market. Acquisition of Zentiva by Sanofi-Aventis has been recognised as the transaction of a year by Emea.
EUROPASTA
- Sector: food industry
- Client: Europasta
- Year: 2008
- Deal value: confidential
- CORPIN provided advisory to Europasta B.V., leading Central European producer of pasta, with respect to the disposal of its non-core bakery operation Pekast to Penam (Agrofert Group) and subsequent acquisition of the pasta division from Penam.
- As a result of this transaction both Europasta and Penam strategically reinforced their core businesses and disposed of non-core business activities in a mutually beneficial transaction.
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Rothschild & Co is a global group focused on M&A, strategy and financing advisory, with more than 200 years long history. Rothschild & Co is a commercial partner of CORPIN since its foundation in 2007.
Rothschild & Co belongs to the most successful independent financial advisory groups on a global scale.
- More than 2400 announced transactions globally in the total value of USD 1.6 billion since January 2010
- #1 European M&A adviser by the number of completed transactions in every year since 2010
- Ca. 900 bankers and advisors in 40 countries, out of which 690 in Europe
The Rothschild family’s activities date back to its first major business undertaking in the region, the acquisition of the Vítkovice Steelworks in 1842. This was followed by a number of financial investments, many connected to the development of the Nordbahn railway network, for which the Rothschilds had been granted the concession in 1832. Since the early 1990s Rothschild Global Advisory has been active in early privatisations, inward and outward M&A, and financings across a number of sectors including financial services, telecommunications, media and technology, consumer, healthcare and wider infrastructure.
More information about the Rothschild & Co can be found at
www.rothschildandco.com
Trophées Leaders de la Finance 2016 Best Bank for Private Equity
The Banker Investment Banking Awards 2016 Most Innovative Independent Investment Bank
The Banker Deal of the Year 2016 European M&A Deal of the Year: €60bn merger of Lafarge and Holcim 2016
Mergermarket 2016 European Mid-Market M&A Financial Adviser of the Year
IFR 2016 Capital Markets Adviser of the Year
Euromoney Awards for Excellence 2019 Best M&A House in Central & Eastern Europe
