Iskra, Slovenia’s largest producer of electro technical products, acquires the shipyard operations of NCP Group, a producer of special catamarans and provider of maintenance services for yachts, navy ships, and other vessels. Iskra has bought the NCP shipyard in Croatia’s Šibenik for what one of the owners, Dušan Šešok, said was less than €5 M. NCP Shipyard was in bankruptcy procedure since late 2017, however all business operations continued and were carried through NCP Group. SORTIS’ partner in the Globalscope M&A Advisors network, GRUBISIC & Partners acted as financial advisor to the management of NCP. GRUBISIC & Partners focuses on financial advisory, M&A, capital raising, due diligence services, and financial restructuring.
In October 2018, Iskra signed an agreement with NCP’s largest creditor on redemption of its claims, including a pledge over concession and other shipyard’s assets. Iskra would continue and complete all commenced tasks contracted by the NCP and would further develop the shipyard and refurbishment company’s activities. In a statement to the newspaper Finance, Dušan Šešok, owner of Iskra, commented “The new company Iskra Brodogradilište 1 will generate €20 M in revenue and €1 M in net profit this year.”
NCP Shipyard produces special catamarans and provides refit and maintenance services for yachts, navy ships, and other vessels. The company mainly builds aluminum fishing boats and its biggest clients include companies from Norway who use the boats to supply salmon. NCP also provides maintenance for Croatian ferry company Jadrolinija and the Croatian navy. It generated €16 M in revenue last year.
Iskra is a provider of intelligent industrial solutions and cutting-edge electro technical products. The company specializes in the areas of improving existing applications and introducing new technologies within variety of sectors: energy, electro technical components, installations, traffic, telecommunications, and facility management.
