THE LARGEST WINDOW MANUFACTURER IN THE CZECH REPUBLIC
“We managed to turn debt into capital, expand production, and increase annual revenue. By 2023, we had successfully stabilized the company and sold it to the current management with a profit.”
Marcel Hrošovský, Investment Analyst
Since 2015, ICP Group has been the majority shareholder of Window Holding, formed through the merger of three of the leading window manufacturers in the Czech Republic: Vekra, OTHERM, and TWW. This made it the largest window manufacturer in the country. “We also invested in additional acquisitions, including a majority stake in Incon, a Slovak window manufacturer based in Prievidza,” adds Marcel Hrošovský. After this acquisition, the company operated four manufacturing plants in Lázně Toušeň, Velké Meziříčí, Husinec, and Zašová, employing 850 people.
We entered the company at a time when it was struggling with financial issues caused by excessive bank loans. We successfully converted the debt into capital, significantly reducing costs related to principal and interest repayments. This provided Window Holding the time needed to properly implement its acquisitions and planned improvements, leading to a revenue increase from CZK 1.567 billion in 2015 to CZK 2.303 billion in 2022.
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