In reference to the current reports Nos 25/2024 of 14 June 2024, 31/2024 of 18 July 2024, and 35/2024 of 21 August 2024, the Management Board of Grupa Kęty S.A. (hereinafter referred to as the Issuer) informs that on 2 September 2024 it entered into a committed agreement (hereinafter referred to as the Agreement) with two natural persons with regard to the sale of 211 815 shares in SELT Sp. z o.o. (hereinafter referred to as Company), representing 100% of the share capital and the total number of votes in the General Meeting of the Company.
The final sales price of the Company shares amounted to PLN 394.9 million and was fully paid on the date of the Agreement. At the moment of crediting the bank accounts of the sellers, the rights to the shares in the Company were transferred to the Issuer and the transaction was closed. The shares purchase was financed from the Issuer’s own fund and a bank loan about which the Issuer informed in the current report No. 36/2024 of 28 August 2024.
SELT Sp. z o.o. is one of the leaders on the Polish market of sun protection systems manufacturing, with annual revenue of roughly PLN 280 million. It offers external blinds, pergolas, awnings, sunbreakers, and reflex screens, which respond to market demand, including the trends related to thermal performance improvement of the existing buildings, passive buildings, energy saving and protection against extreme weather conditions.
In the opinion of the Issuer’s Management Board, the take-over of the Company will enable the Issuer to extend the value chain, and the product portfolio of the Group in that promising market area, where the Issuer’s presence has not been significant so far. It will also result in a number of synergies, for example in purchasing, sales and customer service areas.
The Company acquisition fits the Strategy of development of the Capital Group of Grupa Kęty S.A. for the years 2021-2025, providing for the possibility of acquiring other entities in the area related to the basic operations of the Issuer.
