News

RSM TACOMA Completed Unique Acquisition for TEDOM in Australia

17.04.2012
Company: Amcham

Client: TEDOM a.s. Target Company: GridX Power Pty Ltd. TEDOM, a significant Czech manufacturer of cogeneration units, accomplished the acquisition of Australian company GridX, which runs a unique project – supplying and operating a trigeneration plant which provides electricity and chilled and hot water to Quantas, a significant Australian company. TEDOM acquired a substantial share in GridX, thus becoming a major supplier for the whole project. The project is based directly in the main Sydney airport, with a total capacity of 11.6 MW. The total investment costs have been calculated at AUD 23 mil.

Having performed this transaction, TEDOM now ranks among the most significant of Czech businesses investing abroad and co-operating with international companies. The aim of TEDOM is to present itself as an investor capable of completing and operating energy projects in various foreign markets.

RSM TACOMA, the sole adviser to TEDOM, assisted in the acquisition process by organizing and managing the entire transaction.
TEDOM a.s. is a Czech-based company dealing with the production of cogeneration units.

The company has been active in the cogeneration market for 20 years. TEDOM ranks among the top European producers of cogeneration units, having installed 2,600 of such units so far. Currently TEDOM employs approximately 600 employees and in the past few years the company has reached a profit of more than CZK 2 bn.

Qantas Airways is a national Australian airline. The company´s hub as well as the headquarters are situated in Sydney. Established in 1920, Qantas is the biggest airline in Australia and second biggest airline in the world. Qantas Airways operates both domestic and international flights. In 2011 the company operated a total of 142 aircrafts. Qantas flies to 18 Australian and 21 International destinations in 14 countries worldwide, (mainly in the USA and Europe). Together with China Eastern, the company is about to launch a low cost airline in order to strengthen its presence in Asia.

Ing. Josef Jeleček, the Chairman of the Board of TEDOM, comments on co-operation with RSM TACOMA:

“I have to admit that RSM TACOMA helped us significantly, providing the service necessary for successful accomplishment of the acquisition. During the transaction we had to deal with a number of legal and financial issues. Therefore it was necessary to consult specialists, which the advisers from RSM TACOMA definitely are. Thanks to this transaction, TEDOM gained a significant international client and therefore a prestigious position in the Australian market as the acquisition was closely followed by Australian media. I would like to use this opportunity to express my thanks to RSM TACOMA for their assistance in the project.”

Ondřej Štěpánek, M&A Manager at RSM TACOMA, said the following:

“This transaction was rather specific especially due to the location of the target company and its situation before the acquisition. We got involved in the process at the stage when all the opportunities to finance the project had failed and it seemed that the company would have to cancel the project. Thanks to our co-operation, we managed to save the project, maintain the relationship with Qantas and persuade current shareholders that TEDOM was not only interested in acquiring the share in the project but it was also capable of completing and funding the project. Sometimes, the negotiations were difficult and at some points we seemed to be far from reaching an agreement. Nevertheless, we managed to accomplish the task successfully and we are happy to see continuous development of the project.”


RSM TACOMA is a member of the global network of consultancy firms RSM International. Having entered the global network, we can share with you our global perspective, business experience, opportunities and know-how. RSM International is the sixth largest consulting network in the world with 714 branches in 83 countries and 32,551 employees, including 3,113 Partners.For more information on RSM TACOMA and RSM International, visit www.rsm-tacoma.cz and www.rsmi.com.



For further information on this transaction, please contact:

Marek Rosenbaum
Partner
+420 603 419 837

Ondřej Štěpánek
M&A Manager
+420 739 343 392