Natland sells its stake in Energo Příbram. The buyer is Veolia ČR

10.7.2025

After five years of intensive transformation and growth, Energo Příbram is now in the hands of a long-term strategic investor.

Natland Energo Holding of the Natland investment group has agreed to sell 100% of its stake in Energo Příbram. The transaction marks the completion of a five-year investment cycle, during which this energy asset has been modernised, developed and significantly appreciated. The buyer is the Czech subsidiary of the multinational Veolia Group together with its minority partner ENPO Core Investments. The transaction is subject to the approval of the Office for the Protection of Competition.

The Natland Group transformed the originally indebted and technologically outdated operation into a stable, modern and environmentally friendly energy company, which today supplies heat to more than ten thousand households, schools, hospitals and industrial enterprises.
“We have done an honest job on the Energo Příbram project. Since our entry into the company, we have invested tens of millions of crowns in the modernisation of operations and technologies, we have switched to biomass combustion as one of the first in the Czech Republic, and we have also maintained a backup for gas heat production. We have expanded operations to include power balance services and streamlined the entire business. The company produces both heat and electricity from renewable sources and is ready for further development under the leadership of a strong strategic partner, ” says David Manych, Natland Group Partner for Private Equity & Investments.

The transformation brought strong value: return on capital reached double digits, confirming the success of the chosen strategy and the effective execution of change management. Over the years, a number of key investments have been made, such as the construction of a photovoltaic power plant, a small waste incinerator project under the EIA regime, the connection of the municipal water park to the CZT network, and the preparation of the expansion of the heat network in cooperation with the city.

“Energo Příbram is an example of a successful turnaround – an ownership stake that we have rehabilitated and significantly appreciated. Today the company is on solid foundations, generates EBITDA of around CZK 100 million, has a net profit that has doubled year-on-year and has revenues of over CZK 400 million. We believe that the new owner will build on this development,” adds Manych.

Natland entered the project in 2019 together with investment partner Maidavale when it took over Mincom – the owner of Příbramská teplárenská. The company’s installed thermal capacity is 138 MWt, and installed electrical capacity is 45 MWe. Thanks to its own infrastructure of almost 20 kilometres, Energo Příbram supplies approximately 400 customer sites – from households to industrial enterprises and utilities.

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Natland Investment Group is a financial investor operating primarily in the Czech and Slovak markets. It invests its capital in the strategic segments of Private Equity, Real Estate and Financial Services mainly in medium-sized companies. It manages assets through investment funds. He is an expert in crisis management of companies in complex situations. Natland was founded in 2002 by Tomas Raska.

Media contact:
Hana Filipová
Head of Marketing & Communication
hana.filipova@natland.cz
+420739500844

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