The company Pervanovo, owned by Darko Pervan, has acquired a majority stake in Spin Valis, confirmed to us by a well-informed source. He did not wish to disclose the transaction amount, but stated that, to his knowledge, it is the largest transaction in the domestic wood industry.
The largest shareholders Zdravko Jelčić, Miljenko Katranček, Marko Žmire, and Vinko Pisarović sold their shares (a total of 67.95 percent according to Poslovna Hrvatska). After the contract is signed, the AZTN must give the green light, but as our source says, there should not be any problems since the wood industry is generally dispersed, so there is no threat of concentration. Once the AZTN approves the transaction, payment to the accounts of the previous shareholders is expected in the first half of December. The advisory part of the deal for the sellers was handled by the consulting firm Caper.
As we learn, Pervanovo plans to acquire the remaining shares in the company, as well as to introduce its well-known click technology, applied to floor production, to Spin Valis’s already prepared new furniture products.
Whether there will be a change in the management of Spin Valis remains to be seen. Previous practice has shown that Pervanovo usually appoints new managers to the leading positions of companies after an acquisition. The current CEO of Spin Valis is Marko Žmire, and the members are Zdravko Jelčić and Miljenko Katranček.
Lider received information last week that negotiations are underway regarding the sale between Pervanovo and the owners of Spin Valis, but the company from Požega did not respond to our inquiry, while Pervanovo stated that they do not wish to comment. There was significant interest in acquiring Spin Valis from both domestic and foreign companies, but Pervanovo was the most concrete.
