Advent International agrees to partial sale of InPost shareholding to PPF Group
London, 26 May 2023 – Advent International (“Advent”), one of the world’s largest and most experienced private equity investors, has agreed to sell part of its shareholding in InPost Group (“InPost” or “the Group”), representing 15% of the Group’s total share capital, for €10 per share to PPF Group (“PPF”), a privately-held international investment company.
Listed on Euronext Amsterdam, InPost is the leading European automated parcel machine (“APM”) service provider. Under the terms of the agreement, Advent will sell the 15% shareholding, with the option for PPF to purchase a further 15% of the Group’s total share capital at an agreed price. Each of Advent and PPF has agreed to a lockup agreement on the remainder of its holding in InPost for a 6 month period (subject to certain customary exceptions with each party being permitted to sell shares equivalent to up to 2.0% of InPost’s share capital during the lock-up period).
On completion of the initial sale, Advent will remain the largest shareholder in the Group with a 30.3% ownership stake.
Since its initial investment in 2017, Advent has invested substantially in InPost to support the management team and facilitate market share expansion across Europe. Since then, the Group has grown to become the leading out-of-home e-commerce delivery company in Europe, providing delivery services through its network of more than 29,000 APMs and operating across 9 European countries. InPost successfully listed on Euronext Amsterdam in January 2021, and was at that time the largest ever tech IPO in Europe. Since then, revenues and EBITDA have more than doubled as the business continues its industry leading expansion.
Investment from PPF marks an important strategic milestone for Advent and InPost, adding further expertise and investment that will support InPost’s continued growth.
Nick Rose, InPost Board member and Managing Director at Advent International, said, “InPost has grown to become Europe’s leading out-of-home e-commerce delivery company, led by a fantastic management team which has put the customer at the heart of their business. During our 6 year partnership with founder Rafal Brzoska, the Company has grown earnings more than fifty fold. That growth momentum continues today and therefore we’re exceptionally pleased to now have PPF, with its strong investment experience, alongside us on the share register.”
Ranjan Sen, InPost Board member and Managing Partner at Advent International, said, “PPF has a strong track record of value creation, across a wide range of sectors in Europe, and we’re delighted that they recognise the quality and future growth opportunities for the business. We are confident that by leveraging our collective expertise we can continue to unlock InPost’s full potential. Our ongoing support highlights the confidence we have in this exciting new chapter for the business.”
Didier Stoessel, Chief Investment Officer of PPF Group, said, “We are pleased to become a shareholder in InPost, a company with significant scope to expand and build upon its market leading position. As an experienced investor in e-commerce and a wide range of other sectors globally, PPF is well placed to help InPost grow its business internationally.”
About Advent International
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has made over 405 investments across 42 countries, and as of December 31, 2022, had €86 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 290 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. For over 35 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.
For more information, please visit www.adventinternational.com
PPF Group operates in 25 countries, investing in multiple sectors, including financial services, telecommunications, media, e-commerce, and other sectors, including real estate, biotechnology and transportation. PPF Group’s reach spans from Europe to North America and across Asia. The Group owns assets to the value of EUR 40.13 billion and employs 70,000 people globally (30 June 2022).
For more information, please visit www.ppf.eu/en
About InPost S.A.
InPost S.A. InPost (Euronext Amsterdam: INPST) has revolutionized e-commerce parcel delivery in Poland and is now one of the leading out-of-home e-commerce enablement platform in Europe. Founded in 1999 by Rafał Brzoska in Poland, InPost provides delivery services through our network of more than 29,000 Automated Parcel Machines (“APMs”) in 9 countries across Europe, as well as to-door courier and fulfilment services to ecommerce merchants. InPost’s Paczkomat® machines provide consumers with a cheaper, flexible, convenient, environmentally friendly, and contactless delivery option.
For more information, please visit www.inpost.eu