Pamplona Capital Partners has sold its entire 43.3% stake in Pegas Nonwovens, via accelerated bookbuilding, to a group of qualified investors for a price of CZK 780 per share. The U.K.-based investment group had announced last week it was interested in selling its stake in the Czech nonwovens maker following the expiration of its lock-up period in mid June.
Pamplona purchased Pegas in early 2006 and then listed it as an initial public offering on he Prague Stock Exchange in December of that year.
The Czech Republic’s largest producer of nonwovens, Pegas produces spunmelt nonwovens on seven lines. Last year, its sales increased 10% to reach €121 million thanks to an increased focus on specialty hygiene products.