Advent International successfully completes tender offer for S.A. and InPost S.A.

Warsaw, 26 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”), have successfully completed the tender offer for S.A (“Integer”) and InPost S.A. (together “the Group”), following the acquisition of 92.88% (62,89 % plus these belonging to Rafał Brzoska) of S.A. shares and 92.44% (34.44% plus these belonging to Integer Inwestycje) of InPost S.A. shares.

Finalising the tender offer today, the Tenderers have acquired all shares of Integer and InPost for which subscriptions have been submitted:

  • 4,883,074 shares of Integer which represents 62.89 % of Integer’s total number of votes at the General Shareholders’ Meeting, at a price of PLN 49 per share. Together with the acquired by Advent and Rafał Brzoska shares the Tenderers have 7 211 458 shares i.e. 92.88% of shares and votes in Integer
  • 3 980 364 shares of InPost which represents 34.44% of InPost’s total number of votes at the General Shareholders’ Meeting, at a price of PLN 11 per share. Together with the acquired by Advent and Integer Inwestycje shares the Tenderers have 10 684 004 shares i.e. 92.44% of shares and votes in InPost.

AIP will now carry out a squeeze-out in order to acquire the remainder of the Group.

Following completion of the transaction, Advent will provide a significant capital injection into the Group. This will help to put Integer on a secure financial footing, by resolving short-term liquidity constraints and forthcoming debt repayments, and to support continued growth.

Advent intends to invest in optimizing Integer’s customer proposition, as well as capturing further growth of the e-commerce market in Poland and internationally. Advent plans to expand the Group’s network by rolling out new Automated Parcel Machines (APMs), increase capacity in existing APMs, and invest in IT and operations improvements in order to ensure the delivery of a market leading service.

Commenting on its plans for the company, Peter Nachtnebel, Director at Advent International said:

“The uncertainty regarding the Group’s financial standing is over and we are now focused on the future. Integer has created a leading international network of parcel lockers, and we look forward to building on this success by providing necessary capital and expertise to support its growth.”

Rafal Brzoska, CEO of Integer Group, also commented:

“Integer’s APM networks have the potential to become the logistics service of choice for e-commerce customers due to their superior convenience, speed of delivery and ease of return function. With the help of Advent, we plan to develop new services that will continue to drive value and convenience for our customers and end users”

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 and InPost S.A. operations include the production and sale of parcel lockers, parcel holding services and management of the Group’s divisions. The company S.A. has been listed on the Warsaw Stock Exchange since 2007. InPost S.A. is a business owned by the 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.

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