• Home
  •  
    Regions
    • Europe
    • UK & Ireland
    • DACH
    • Nordic
    • France
    • Southern Europe
    • Benelux
    • CEE
    • Asia
  •  
    Deals
    • Buyouts
    • Venture
    • Exits
    • Refinancings
    • Build-up
    • Turnaround
    • Secondaries
    • Advanced deals search
  •  
    Funds
    • Buyout
    • Venture
    • Mezzanine
    • Debt
    • Funds-of-funds
    • Secondaries
    • Fundraising pipelines
    • Advanced funds search
  •  
    GPs & LPs
    • GP profiles
    • LP profiles
    • GP news
    • LP news
    • Sponsors search
    • LPs search
  •  
    Secondaries
    • Deals
    • Funds
    • News
    • Analysis
  •  
    People
    • People moves
    • Analysis
    • In Profile
    • Q&A
    • Videos
    • Comment
  •  
    Analysis
    • In Profile
    • Fundraising
    • Q&A
    • Comment
    • Videos
    • Podcast
    • Reports
    • Data Snapshots
  •  
    Unquote Data
    • Deals search
    • Exits search
    • Funds search
    • Sponsors search
    • Advisers search
    • LPs search
    • League tables
    • Reports
  • Sign in
  • Sign in
    • You are currently accessing unquote.com via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0)203 741 1137

      Email: Georgina.Lawson@acuris.com

      • Sign in
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • Twitter
    • LinkedIn
  • Free Trial
  • Subscribe
Unquote
Unquote
  • Home
  • Regions
  • Deals
  • Funds
  • GPs & LPs
  • Secondaries
  • People
  • Analysis
  • Unquote Data
  • You are currently accessing unquote.com via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0)203 741 1137

    Email: Georgina.Lawson@acuris.com

    • Sign in
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
Unquote
  • Exits

ACP partially exits Spearhead to JTZE

  • Ero Partsakoulaki
  • 11 January 2023
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  

Accession Capital Partners has realized an early partial exit of its investment in data-driven agribusiness Spearhead.

The divestment of the business’s Czech and Slovak operations to Prague-headquartered strategic investor JTZE group (J&T Zemědělství a Ekologie) takes place just one year after ACP (formerly Mezzanine Management) acquired the business, according to a press release.

The divestment provides a strong return for ACP, which will retain a stake in Spearhead’s Polish, Romanian and UK businesses, it said. The Czech and Sovak parts accounted for approximately 40% of the overall business, so ACP remains the majority shareholder in the company, Przemysław Głębocki, managing partner at ACP, told Unquote.

Spearhead

  • DEAL:

    Exit

  • LOCATION:

    Czech Republic & Slovakia

  • SECTOR:

    Food producers

  • VENDOR:

    Accession Capital Partners

The GP was approached by the buyer and decided to proceed with the divestment as JTZE group is a great fit for the Czech and Slovak markets, he said.

The firm originally bought the company from Paine Schwartz Partners in January 2022 via its Accession Mezzanine Capital IV fund as it was strongly positioned to take advantage of the industry trends of food traceability and tightening food specifications, said Głębocki. Following the war in Ukraine, food security only became an even greater issue revealing further growth opportunities, he added.

Fund IV will soon be fully deployed, said Głębocki, without disclosing further information.

Spearhead will continue to work with the Czech and Slovak businesses in terms of know-how and technology as well as client relationships, according to the press release.

ACP held a EUR 90m first close in July 2022 for ACP Credit Fund I, its debut central Europe-focused credit fund and is on the road for Accession Mezzanine Capital V (AMC Capital V). The vehicle was registered with the Luxembourg Registry in February 2022. The fund will follow its predecessor's strategies and provide mezzanine financing to small-cap, mid-market as well as growth businesses in central Europe, according to Unquote Data.

Company
Spearhead is a vertically integrated food and agriculture businesses operating in Europe. The company manages 83,000 hectares of farmland across Poland, the Czech Republic, Slovakia, Romania and the UK, where it company started more than 50 years ago. It is harnessing data it collects through its application of technologies for precision farming. Spearhead specializes in specialty crops catering to food processing businesses in Europe.

People
ACP − Przemysław Głębocki (managing partner).
Spearhead Group − Tomasz Zdziebkowski (CEO).
JTZE − Dusan Palcr (chairman if J&T board)

Advisers
Vendor − Bird & Bird (legal).

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
  • Topics
  • Exits
  • Consumer
  • Technology
  • Czech Republic
  • Slovakia

More on Exits

Public sector software
Partners Group to release IMs for Civica sale in mid-September

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

  • Exits
  • 04 September 2023
Lender taking the keys from a sponsor
Ares Management handed keys to two-thirds of UK sponsor’s portfolio

Lender provided GBP 500m for three of the GP's deals between 2016 and 2019, Debtwire reported

  • Financing
  • 30 August 2023
Luggage and airport services
Actera Group explores strategic options for Celebi Ground Handling

Several investors placed bids for the company in 2022 but mismatch in pricing didn't lead to a deal

  • Exits
  • 30 August 2023
HR software solutions providers
Main Capital’s Assessio to be sold to Pollen Street

Recruitment software company tripled in revenue under Main Capital’s ownership

  • Buyouts
  • 25 August 2023

Latest News

Fund closes in US dollars
  • Funds
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote

  • 05 September 2023
Clinical trials and biotechnology
  • Buyouts
Permira to take Ergomed private for GBP 703m

Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO

  • 04 September 2023
Public sector software
  • Exits
Partners Group to release IMs for Civica sale in mid-September

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

  • 04 September 2023
EMEA Public to Private M&A
  • Investments
Change of mind: Sponsors take to de-listing their own assets

EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater

  • 04 September 2023
Back to Top
  • About Unquote
  • Advertise
  • Contacts
  • About Acuris
  • Terms of Use
  • Privacy Policy
  • Group Disclaimer
  • Twitter
  • LinkedIn

© Merger Market

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE - Company registration number 03879547

Digital publisher of the year 2010 & 2013

Digital publisher of the year 2010 & 2013