Polish steel producer Zlomrex has divested itself from troubled Croatian subsidiary Zeljezara Split, selling its 95.86% stake to British firm Carlson Private Equity Limited. The deal was signed by both parties earlier in the month transferring more than 220,000 shares of stock to Carlson.
Zeljezara Split (www.zst.hr)
Zeljezara Split is a steel producing operation based in the southern Croatian city of Split. The company consists of three factories: a steel works plant, a rolling mill, and a cold treatment plant. The three operations combined produce a variety of steel products including steel beams, wire, doors, nets, and discs.
Zlomrex (www.zlomrex.pl)
Founded in 1990 as a one-man scrap metal business, Zlomrex SA is now Poland’s largest scrap metal dealer as well as a leader in the nation’s metallurgical industry.
Zlomrex is a producer of steel and its associated products both in Poland and Central & Eastern Europe. The company is based in Poraj, in west-central Poland.
Carlson Private Equity (www.carlsonfunds.co.uk)
Founded in 2003, Carlson Private Equity seeks out distressed companies involved in what it terms the “traditional economy” in Europe and Asia. The company offers equity financing for financial restructuring, company turnarounds, and special situations not normally taken on by standard PE firms.
Carlson operates offices in four European cities as well as Cyprus and the British Virgin Islands.
September 22, 2009
Central & Eastern Europe, Investment, Poland