Posted Wed, 24/02/2010 - 19:54
Innova Capital Purchases Tarmac's Libet Subsidiary
Anglo American plc has
announced the sale of Polish concrete products manufacturer, Libet, to
Innova Capital. The acquisition was made through Innova's fourth fund,
Innova/4, and gives the firm 100% ownership.
Prior to the sale Libet was part of Tarmac, a British mining and mineral
company, which is in turn part of Anglo American. The sale of Libet
coincides with a separate transaction which saw the sale of Tarmac's
construction aggregates holdings in four European countries to the Vinci
Group's Eurovia subsidiary.
Tarmac (www.tarmac.co.uk)
Tarmac is a U.K.-based mining and quarry operation in business since 1903.
Tarmac products are used primarily in construction applications including
asphalt and concrete products. The company operates 135 quarries, 172
concrete plants, and 73 asphalt plants, as well as recycling operations
which reclaim nearly 2 million tonnes of construction waste annually.
Libet S.A. (www.libet.pl)
Former Polish subsidiary, Libet S.A., produces concrete pavers, slabs, road
elements, and cobblestone products. The Warsaw-based company markets its
products to construction companies and distributors throughout the region
and maintains 12 production plants. Libet's 500 employees created a turnover
of PLN 250 million in 2009.
Innova Capital (www.innovacap.com)
Based in Warsaw, Innova Capital is a private equity firm active in Central
and Eastern Europe with an emphasis on investments in Poland, the Czech
Republic, and Hungary. Preferring opportunities in the financial services,
media, manufacturing, and telecom sectors, Innova typically invests €5
million to €15 million per project with a horizon of 3-5 years. Innova/4,
the fund which closed in 2006 at €225 million, received commitments from
institutional and corporate investors in both Europe and America
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Innova to take over Libet 01/02/2010
Private equity fund Innova Capital plans to take over cobblestone
manufacturer Libet, which is one of the biggest players in the Polish market
with annual revenue of about zl.250 million (EUR 62.5mn).
Libet is now apart of the Tarmac group, which is wholly owned by Anglo
American.
The Tarmac parent has now decided to sell the Wroclaw-based cobblestone
maker, which comprises 12 factories and 22 production lines.
Libet president Robert Napieral declined to comment. Wroclaw authorities
said in summer that the company is profitable.
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LIBET | Libet cobblestones | Warsaw, 31 May 2006
The Libet S.A. company is a leader in the Polish
cobblestones market and specializes in the production of a premium
assortment.
The Libet S.A. company is the part of an international concern, Tarmac,
owned by the largest worldwide group in the mining industry, Anglo-American.
Libet S.A. offers over thirty different types of cobblestones in three
product groups: premium, standard and industrial one. It specializes in
premium products - represented by the Libet Decco product line, based on the
highest quality raw materials and high-grade aggregates. Libet has operated
in the market for 16 years and held a leading position as regards the sales
volume. The company manages nine production plants.
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kostka brukowa libet
