Expandia

Expandia is the only owner of the company JITONA a.s.

Expandia is a private company that deals, in cooperation with its subsidiaries with investments into risk capital projects in the Czech Republic and Central Europe. Expandia invests financial means in particular into joint-stock capital of medium-sized and small companies without limiting itself to one field. Attractive investment opportunities can be identified both in newly established companies and in existing and dynamically developing companies. The company also examines the possibilities of cooperation in transactions such as management-buy-in, management-buy-out, recapitalization, revitalization, sales of parts of enterprises or sets of assets.
The usual project sizes Expandia is preferably interested in is involvement ranging from about CZK 50 to 120 million for a period of 3 to 7 years. The companies Expandia invests in are often owned primarily by Expandia at least during the first stage of investment. Oour company representatives participate in the management of each project, and mostly as members of the statutory bodies.
Expandia became the majority shareholder of JITONA a.s. in 1996 when the revitalization programme of the then indebted company started. Under the management of the Expandia company, the number of production plants was reduced, costs were reduced and a new information system was implemented. The company rapidly improved its cash-flow and reduced the loan burden.
Considering in particular the positive development in JITONA and the management of the restructuring process, the Czech government approved Jitona as the future strategic partner of another significant Czech furniture-manufacturing company Tusculum a.s. within the scope of the curative programme to solve the situation of insolvent companies In 2003 the successful management of this acquisition process resulted in the creation of the largest local furniture group, JITONA | Tusculum that had the preconditions to access the most demanding Europe markets on a long-term basis. In January 2007, the merger of JITONA a.s. and Tusculum a.s. was accomplished and both companies have been acting under a single common name, JITONA a.s. since 1 February 2007. The merger formally confirmed the effected structural and organizational changes both companies had gone through since Expandia had entered them.