Zetkama, the listed fittings producer from Klodzko,
has for long been controlled by Riverside funds. They are going to withdraw.
Avallon MBO is interested in Zetkama.
“Avallon is a financial investor but I
treat the group as an investor from the same sector because it has in its
portfolio companies which are very similar to ours: Kuznia Polska or Srubena”,
Leszek Jurasz, Zetkama CEO said.
Kuznia might deliver some elements to
Zetkama while Srubena could install Zetkama’s products.
“That’s why our
company would suit the metal group. I’m for this strategy of development. It
would help Zetkama improve effectiveness and results”, Leszek Jurasz
said.
Zetkama is currently shifting its facilities and its capacity will be
15-20 percent lower for several months.
Avallon wants to buy over 64 percent
of Zetkama. In the tender call, it will buy the stock from Riverside at PLN 16
(EUR 4.2) a share. For the other shareholders, the price amounts to PLN 17.95.
The subscription will be held from May 9-23rd.
(PLN 1 = EUR 0.264)