Jet Investment Marks Historic Exit with TEDOM Sale to Yanmar Group
Deal News | Oct 31, 2024 | Jet Investment
Jet Investment, a Czech private equity firm, has completed the sale of TEDOM, a leading energy-engineering group, to the Japanese-based Yanmar Group, marking one of the largest mergers and acquisitions in the Czech market for the year. After acquiring 100% ownership of TEDOM in 2020, Jet Investment successfully transformed it into a major global player, focusing on comprehensive energy solutions and expanding its presence through strategic acquisitions. The sale yielded a nearly sevenfold return on the original investment for Jet Investment. TEDOM's annual revenues doubled under Jet Investment's ownership with innovative projects including a joint venture in Poland for decarbonization initiatives and acquisition of an Italian company. This marks the first exit from Jet's Jet 2 Fund, as they continue to manage other energy sector investments and prepare for future acquisitions with remaining fund capital.
Sectors
- Private Equity
- Energy Solutions
- Industrial Manufacturing
Geography
- Czech Republic – Jet Investment is based in the Czech Republic and the sale of TEDOM is a significant market event in this country.
- Poland – TEDOM's operations and strategic ventures in Poland are relevant, particularly its joint venture aligned with Polish decarbonization.
- Japan – The buyer, Yanmar Group, is a global entity based in Japan, indicating the article's international scope.
Industry
- Private Equity – Jet Investment is a private equity firm managing industrial investments, making the sale of TEDOM significant within this sector.
- Energy Solutions – TEDOM's business in energy solutions and cogeneration units highlights this sector's relevance to the article.
- Industrial Manufacturing – The transformation of TEDOM into a provider of comprehensive energy solutions aligns with industrial themes present in the article.
Financials
- 6.8x – Return on original investment for the TEDOM sale by Jet Investment.
- 44% – Internal Rate of Return (IRR) per annum achieved by Jet Investment on the TEDOM exit.
- EUR 160 million – Projected annual revenue for TEDOM for the current year following transformations.
- EUR 128 million – Capital available for industrial acquisitions at Jet Investment via its Jet 3 fund.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Jet Investment | Selling Company | Company | A private equity firm based in the Czech Republic, specializing in industrial investments. |
| TEDOM | Target Company | Company | An energy-engineering group providing cogeneration and comprehensive energy solutions. |
| Yanmar Group | Buyer | Company | A global Japanese company acquiring TEDOM, expanding their portfolio. |
| DRV Legal | Legal Advisor | Company | Provided legal advice for the TEDOM divestiture. |
| PwC Czech Republic | Legal Advisor | Company | Provided legal services and advice for the TEDOM transaction. |
| Marek Malk | Partner at Jet Investment | Person | Instrumental in transforming TEDOM and facilitating its sale. |
| Oldich oba | Project Director at TEDOM | Person | Key figure in driving TEDOM's growth during Jet Investment's ownership. |