What is the value of the transaction?
Private equity group Penta and the company J 23 a.s. yesterday reached an agreement on the sale of the ADAST a.s., a manufacturer of printing presses based in Adamov, Czech Republic. J 23, a company with a significant interest in machinery manufacturing, is purchasing 100 % of the shares in ADAST. The value of the transaction has not been disclosed. The new owner plans to keep the polygraphic manufacturing activities at ADAST.
Penta purchased ADAST out of bankruptcy in 2003. The company was in poor condition and it was having a hard time surviving in the highly competitive international market for printing equipment. In ADAST Penta invested primarily in the areas of production optimization, R&D and innovations. Although ADAST retained its existing production, it increasingly started to focus on cooperative arrangements. The company will continue these trends after its change of ownership.