Natland acquires stake in Příbram Heating Plant and finances its transformation
Prague, 1/7/2019 – Natland Investment Group acquired a 33 % stake in Mincom Company which newly owns and manages the heating plant in Příbram, central Bohemian city. Natland also provided financing for Mincom’s acquisition of the plant and its subsequent modernization.
On the last day of June 2018, Mincom completed its acquisition of 100 % of shares of Příbramská Teplárenská Company from the bankruptcy administrator, and of the heat distribution infrastructure from the City of Příbram. The twenty year uncertainty about the company’s future are therefore at an end.
The consultancy Patria Corporate Finance and the auction house Naxos advised the sellers. It was a complicated transaction involving two sellers – the City of Příbram and the creditors of the bankrupt heating plant company.
Natland acted on the buyer’s side; Mincom Company is an SPV of the EnergoFuture Group. Natland provided financing of this transaction and became a shareholder of one third of the venture.
Upon the acquisition, the heating plant immediately began adapting a part of its productive capacity from burning coal to burning wood chip biomass. This investment will cost approx. EUR 4 million. In addition to heat, the plant will also generate electricity with installed output of 40 MW.
The link between ecology and economy of operations is to be found not only in lower emissions and new cogeneration of electricity, but also in better use of the energy source. The furnaces rebuilt for wood chips will have a one-sixth higher energy efficiency (83%).
In order to complete the transformation before the beginning of the heating season, quick action was necessary. This was aided by the quality of technical blueprints by the current team in the heating plant and the EnergoFuture team. On the legal side, Natland was counselled by Dentons, EnergoFuture was supported by the Strnad, Joch, Lokajíček Solicitors.
Natland Investment Group concentrates on private equity projects with specialisation in distressed assets, and on real estate development primarily on Czech and Slovak markets. It is a partner sought by company managements for MBO transactions. The Group is dedicated to hands-on approach to investments and is actively engaged in project management. Net profit exceeded EUR 25 million in 2018, with total assets in projects in excess of EUR 200 million. The Group was founded in 2002 by Tomáš Raška and currently has 3 other Partners - Jana Sečkářová, Karel Týc and David Manych.