Darko Pervan to buy Croatian Spacva and plans huge investments
June 3, 2021 – Darko Pervan, who is a Swedish-Croatian investor well known throughout the country for his trade moves and various acquisitions, will be the one to take over the Croatian company Spacva.
As Novac / Jozo Vrdoljak writes, Quaestus Private Equity has sold 75.8 of its shares in Croatian company Spacva to Swedish-Croatian investor Darko Pervan and his Croatian company Pervanovo, and the plans are now quite ambitious.
Until recently, Polish flooring manufacturer Barlinek was the most serious investor in Croatian company Spacva. But after that company abandoned the business, Darko Pervan’s Pervanovo came into play. Representatives of the Quaestus Private Equity Kapital II fund were in Sweden about a year ago and spoke personally with Darko Pervan, who is considered one of the lumber industry’s most desirable investors, but Pervan has always kept things close to his chest. .
Now, it can be seen that Pervan’s move was indeed a brilliant strategic move, and the lion’s share of the takeover was carried out by Stjepan Vojnic.
The process of finding a strategic investor for the Croatian company Spacva began in September 2020, at a very difficult time given the epidemiological situation.
During the process, talks were held with the most important and reputable European timber industries and several investment funds. The entire lumber industry has been operating very successfully since last summer and with surprisingly good results given the situation, but the uncertainty and limitations in normal business and travel have made it much more difficult to implement the process entirely led by Quaestus.
In the second step of the process, interested investors conducted an in-depth survey of the Croatian company Spacva. Corporate governance and transparency of operations have been at the center of Quaestus and Spacva’s concerns since the very first day of the takeover, and a thorough review has only been the formal confirmation of many years of good practice. The transaction was finalized during the month of May and a transition period will now follow until the meeting is held.
We are satisfied with the result because satisfactory conditions have been met for our investors, but the sustainability of Spacva is also assured. Thus, the two objectives of the economic cooperation funds have been achieved. The Croatian company Spacva is in an extremely good financial position with fully organized business processes, and Darko Pervan and the Bjelin group companies have all the resources, knowledge and vision to transform Spacva from a simple Croatian leader to a leader. in the timber industry, ”said Mario Popic of Quaestus Private Equity.
Quaestus also initially took over Spacva in 2013, after falling into a serious crisis.
An investment of 200 million euros
Stjepan Vojnic, the director of the companies Pervanovo and Bjelin, recently revealed that in this round, the companies owned by Darko Pervan headquartered here in Croatia intend to invest 200 million euros. Bjelin, Pervan’s second company in Croatia, operates flooring production plants in Bjelovar and Ogulin, and has owned the Furnir company in Otok for over two years now.
In addition to the strength of the brand and its implicit tradition, the enormous value of the company and its contract with the Croatian forests (Hrvatske sume) is also significant. A quota of 45,000 cubic meters of oak per year for a decade has been agreed.
The geostrategic position of the Croatian company Spacva is also valuable as the Vinkovci region still has a sufficient number of interested workers trained to work in the timber industry in this country. In the first quarter of 2021, Spacva recorded 65 million kuna in revenue and 3.4 million kuna in profit, and its inventory was worth 81 million kuna as of March 31.
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