LINET Group rejects financial investor. Shareholders will maintain active management and control of the companyIn the last two years, LINET Group has received tender offers from a number of global players. In the end, however, shareholders and management decided not to sell. On the contrary – they declared their personal determination to continue driving the growth and successful development at LINET Group.
’We’re closing a period in which we worked intensively on the rapid growth of the company by taking a financial investor on board. In the end, the shareholders decided not to sell. LINET Group is growing organically at a much faster pace than the global market. We have enough financial resources and determination to use and optimise our potential. We’ll continue building Linet in the years to come,’ explains Zbyněk Frolík, CEO and shareholder of LINET Group.
Bernhard Ebel, board member of LINET Group SE in the Netherlands, takes a similar view: ’As one alternative, we looked for a partner who can actively support the further development and next growth phase in LINET Group; however, there was no suitable strategic partner. LINET has very successfully demonstrated its ability to grow internally and externally in world markets and will continue doing so without taking that step.’
LINET Group achieved sales of over 250 million euros in 2017 and 287 million euros in the last fiscal year 2018 and is on target to exceed 315 million euros this year.
|SALES||> 250 M€||287 M€|
|Growth Rate – CAGR||-||14 %|
Approximately two years ago, LINET Group entrusted JP Morgan with identifying a financial partner to accelerate expansion in international markets. The goal was to increase sales to 500 million euros.
More than 30 companies worldwide expressed interest in investing in LINET Group, among them the most respected private equity groups in the world. From the management and shareholder perspective it is important to uphold the spirit and dynamic attitude of LINET Group. ’Despite not reaching an agreement, we have no regrets. The experience moved us forward and affirmed that we’ve succeeded in building a player of global importance. The management and shareholders agree that we’re highly motivated to continue building and expanding LINET Group together,’ adds Mr Frolík.