Advent International to acquire more than 90% of shares in Integer.pl S.A. as a result of its tender offer
Warsaw, 24 April 2017 – AI Prime (Luxembourg) Bidco S.a. r.l. (“AIP”), a company wholly owned by funds managed by Advent International (“Advent”), one of the largest global private equity investors, and Rafał Brzoska (together with AIP the “Tenderers”), today announce that more than 90% of the total value of shares in the tender offer for the shares of Integer.pl S.A. (“Integer”) have been submitted for sale, including those held by Rafał Brzoska. Consequently, the terms of the tender offer have therefore been fulfilled and AI Prime, as the sole acquirer, intends to buy all the shares for which subscriptions have been submitted as part of the tender offer, and subsequently carry out a squeeze-out in order to take the whole group private.
Following the successful tender offer, the Tenderers will work together to implement the Group’s strategic plans and are committed to supporting Integer’s further growth and development as a private company. On 20 April 2017, the Tenderers received unconditional consent from the antitrust authorities to acquire shares in the tender offer for Integer.pl and InPost S.A. (“InPost”).
As the successful completion of the tender offer for Integer’s shares was a condition upon which the tender offer for InPost’s shares (announced by the Tenderers on 24 February 2017) could be effected, the Tenderers will tomorrow, 25 April 2017, announce if the condition regarding the tender offer for InPost’s shares has been fulfilled. Further information on the completion of both tender offers will be available after an official announcement on the number of shares purchased by AIP as a result of the both tender offers, scheduled for Wednesday, 26 April 2017.
Commenting on the result of the tender offer, Peter Nachtnebel, Director at Advent International said:
“We are delighted that the tender offer has been successful. Our focus moving forward will be on supporting the future growth of the Company by building out the leading parcel locker network in Europe and providing a unique and compelling service for Integer’s customers”.
About Advent International
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in more than 320 private equity transactions in 40 countries and, as of 30 September 2016, it had $42 billion in assets under management. With offices on four continents, Advent has established a globally integrated team of over 190 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology, media and telecom. After more than 30 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies. Advent has been active in Poland for more than 20 years and is committed to supporting and creating value in companies in the Polish market.
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About Integer.pl and InPost
Integer.pl S.A. operations include the production and sale of parcel lockers, parcel holding services and management of the Group’s divisions. The company Integer.pl S.A. has been listed on the Warsaw Stock Exchange since 2007. InPost S.A. is a business owned by the Integer.pl Group. InPost S.A. provides services for the e-commerce sector and logistics services for the delivery of parcels and courier APM’s. InPost S.A.’s debut on the Warsaw Stock Exchange was in October 2015.