Entrea Capital advised Prista Oil Group in the acquisition of a Chevron Corporation subsidiary

Entrea Capital advised Prista Oil Group in the acquisition of a Chevron Corporation subsidiary

Entrea Capital advised Prista Oil Group in the acquisition of a Chevron Corporation subsidiary

Client: Prista Oil Group BV
Status: Private
Sector: Lubricants & Batteries
Revenue: €375m
Web: www.prista-oil.com/en
Seller: Chevron Corporation (USA)
Status: NYSE listed
Sector: Oil & Gas
Revenue: c.€180bn
Web: www.chevron.com

Client: Prista Oil Group BV

  • Prista Oil Group is a Bulgarian conglomerate, operating in over 20 countries  
  • The Group is active in two main business segments – production of automotive and industrial lubricants (through Prista Oil), and production of car batteries and recycling of lead (through Monbat Plc)

 

Seller: Chevron Corporation

  • Chevron is an American multinational energy corporation active in 180 countries across the globe
  • Chevron is engaged in every aspect of the oil, gas, and geothermal energy industries, including exploration and production; refining, marketing and transport; chemicals manufacturing and sales; and power generation
  • Chevron is one of the world's six "supermajor" oil companies

 

Situation Overview & Solution

  • Prista Oil Group has been pursuing focused regional expansion strategy through both organic and inorganic means in the last several years. The Group established presence across Central and Eastern Europe as well as Central Asia
  • The Group has a long established business relationship with Chevron by being major distributor of Chevron’s premium automotive lubricants on several CEE markets
  • In 20102, Chevron initiated strategic restructuring of its downstream activities resulting in a decision to exit from the lubricants business in certain markets. Prista Oil took advantage of this reorganization opportunity and decided to acquire Chevron’s lubricant oil subsidiary in the Czech Republic and Romania

 

Entrea Capital’s Role and Value Added

Entrea Capital provided the following value-added services to the Board of Directors of Prista Oil Group:

  • Financial model and valuation of the target’s business indicating fair price range
  • Support in the drafting of the non-binding offer outlining key terms of the transaction
  • Expert adhoc financial advice to members of the Board of Directors