We are pleased to announce that on 30 August 2019, the shareholders of Euroklimat sold a total of 76% of shares in the aforesaid company to an entity belonging to one of the largest electricity conglomerates in Europe, the Czech Group CEZ. As part of the transaction, Grant Thornton’s team of transaction advisors provided Euroklimat shareholders with a comprehensive support in the financial, legal and tax areas, in particular in regard to determining the key business terms of the transaction, as well as developing and negotiating the share purchase agreement and other elements of transaction documentation.
Euroklimat is one of the leading entrepreneurs on the Polish market providing installation, maintenance and design services in the field of all kinds of heating, ventilation and air conditioning (HVAC) and sanitary installations. The business, which has been developing for over 20 years, employs about 220 people. In 2018 Euroklimat achieved a turnover of about PLN 250 million. The investment in Euroklimat is one of the steps on the path of implementing the CEZ Group development strategy, for which Poland remains one of the most promising, fast-growing markets. As a result of the transaction, Euroklimat in turn acquired an international and reputable partner with adequate resources, which will enable to increase the potential of the company and continue its dynamic growth”.
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