Experience
Sell-side Advice
Client
Transaction
Sale of 100% sharesInvestor
Date
2013Capital advisory to the owners in the sale process of Jenox Akumulatory Sp. z o.o. – leading Polish producer of starter batteries for the automotive industry.
Acting on behalf of our customers, owners of Jenox Akumulatory Sp. z o.o. the producer of starter batteries for the automotive industry, we completed the process of finding an investor for the company. The strategic investor is the second largest starter battery manufacturer in Poland (after international corporation Exide Technologies, with its Centra brand in Poland) - ZAP Sznajder Batterien SA.
The transaction was carried out through the takeover of 100% of the existing shares of the company and was financed entirely from own funds of the investor. The transaction value has not been disclosed.
With this acquisition the ZAP Sznajder - Jenox group has increased its production capacity to more than 2 million units of starter batteries per year and will own three brands of batteries Sznajder, ZAP and Jenox. Both ZAP and Jenox are important exporters of their products, but the merged entities plan to strengthen its position in the highly competitive Polish market. This task will be achieved through further joint investments both in modern production technologies as well as in the market itself.
Holon Consultants acted as the advisor to JENOX in the verification of the development strategy and played the advisory role to the owners in the investment process, which included preparation of the investment offer, identification of investors, transactions structuring and its final execution.
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Company information
Jenox Akumulatory Sp. z o.o. was founded in 1989 by private individuals managing it until the transaction with ZAP. Initially, the principal activity of the Company was regeneration and battery assembly of components purchased from external suppliers. In 1994 JENOX began commercial production of batteries based on home manufactured components. In 1998, the Company implemented the production of modern, hybrid batteries of calcium alloy. Then it introduced the new range of fully calcium hybrid batteries JENOX 2000.
JENOX sells more than 110 different types of starter batteries for cars, trucks, tractors and special applications. Currently the Company's production base can produce about 900,000 batteries per year. The company sells about 60% of its production on the Polish market. The remaining 40% is exported mainly to European Union.
JENOX is one of the leading manufacturers of starter batteries for the aftermarket. The company is a major player in the battery designed for agricultural machinery and trucks (26% and 17% market share in Poland). In total JENOX has 12% share of the Polish aftermarket for starter batteries.
JENOX in 2012 generated sales in the amount of PLN 98.5 million and a net profit of EUR 2.6 million. The company has a manufacturing facility in Chodzież and employs more than 160 people.
Investor information
ZAP SZNAJDER BATTERIEN S.A. (www.zap.pl) produces starter batteries since 1925. It combines rich experience of the highest quality and most modern production technology. ZAP brand batteries have a special performance advantages for a wide range of applications and modern design. They are known at home and abroad due to its unmatched quality. Any new arrangements are used only after a thorough and practical check that you are a real improvement of production. Since the beginning of 2002, the company is ranked among the world's leading manufacturers of starter batteries Lead checked by producing expanded metal using the latest technology (expanded metal). High qualifications of the staff helped us get the certifications: ISO 9001, ISO / TS 16949, IS0 14001.
The combination of these elements makes the batteries produced in Piastów reliable and meeting the expectations of the most demanding customers.
ZAP is not only the leading national brand, but also represents the result of Polish engineering and the Polish capital. All batteries can be recycled in accordance with modern requirements of environmental protection.
ZAP SZNAJDER BATTERIEN SA in 2011 generated sales in the amount of PLN 182.6 million and a net profit of EUR 19.2 million.