On February 8, 2008, the Bridgepoint fund and the current owner of CTL Logistics, Jarosław Pawluk, finalized the transaction for the sale of a 75 percent stake in the Polish carrier. In this way, the British private equity fund acquired a majority stake in CTL Logistics.
The agreement for the sale of a 75 percent stake in CTL Logistics was concluded back in November of last year, but due to its scale, it required the completion of a number of formalities before being finalized. The last of these was the approval that had to be granted for the purchase by the President of the Office of Competition and Consumer Protection (UOKiK). On January 22, the President of UOKiK issued a decision approving the acquisition of a majority stake in the Polish carrier.
– When deciding on the company’s sales path and then on the choice of investor, the owner took into account to a large extent the value that a potential investor would bring to the company. From our point of view, Bridgepoint was the optimal solution because, on the one hand, a powerful, experienced, and respected investor was entering the company, and on the other, it guaranteed that CTL would continue to remain an independent operator and maintain a dynamic pace of development – says Krzysztof Sędzikowski, Managing Director, Member of the Management Board of CTL Logistics.
– CTL Logistics is a company with great development potential and operates in a very interesting market. We decided that this is an investment worth having in our portfolio. One of the key elements in making the decision was the company’s long-term strategy and its ambitious investment plans. I am convinced that by consistently following the path set out in this way, it will prove to be an investment that will bring us very tangible profits – says Wojciech Napiórkowski, Director of Bridgepoint Capital in Poland.
In accordance with the arrangements between the parties, changes were also made to the company’s Management Board. The current owner, Mr. Jarosław Pawluk, who served as President of CTL, will remain on the company’s Supervisory Board, while the position of President of the Management Board has been taken over by the current Managing Director, Mr. Krzysztof Sędzikowski.
– In this way, full continuity of CTL’s management has been maintained. The people who created the company’s success remain in it, and importantly, the new President is not someone from the outside, but the current Managing Director, i.e., the person responsible until now for the overall operational activities of the company – summarized Wojciech Napiórkowski.