Our portfolio - ICP Investments
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Our portfolio

We diversify across multiple dimensions.

Portfolio

ICP Capital Partners currently manages ICP Capital Investments and ICP Group,
both solely holding companies with assets of tens of millions of EUR.

Na Rybníčku 6

ICP Capital Partners announced the successful acquisition of the property Na Rybníčku from a private Irish investor in 2017.

Na Rybníčku is a 2,400 sqm office building located in a beautiful quiet park in the center of Prague. It represents an outstanding architectural connection of both a modern and an historical building from the 17th century.

Marek Klaus, Partner at ICP Capital Partners, said: “Demand for office space in Prague is probably at its highest level in the last decade. Furthermore, due to Na Rybníčku’s specific location, its long-term tenant and the building’s potential, we perceive this project as a low risk exposure yet with a very stable return.”

Ondřej David, Partner at ICP Capital Partners said: “A peaceful location next to St. Štepán’s church with splendid views right in the busy centre of Prague will never go out of fashion.”

Vinohradská Property

ICP Capital Partners is pleased to announce the successful acquisition of Vinohradská 37 unique historic property with underground garages from a private foreign investor.

Vinohradská 37 is an eight-storey house from the 90s of the 19th century in the lower part of Vinohradská třída. It is a building with a lettable area of ​​approx. 2,000 m2 and 30 underground parking spaces. It offers office and retail space for rent.

The building underwent a complete reconstruction in 1997-1998 when an underground garage with a loader was built in the courtyard, a new roof with steel roof trusses were constructed and the ceilings and floors in the building were completely replaced, together with the renovation of the technical distribution. Today, however, the interior does not meet the demands of modern office space and the facade also needs revitalization. ICP Capital Partners is particularly interested in creative work in this project, linking historic architecture to a modern design work environment.

Ondřej David, a partner at ICP Capital Partners, said: “We consider the project and the location so exceptional that there are considerations today to move there our own companies – the law firm DBK Partners and ICP Capital Partners.”

Marek Klaus, a partner at ICP Capital Partners, said: “An excellent location with such parking capacity gives us a wide range of uses and capital appreciation. Revitalizing of the office space with a possible conversion to flats in the future is one of the options. “

Technopark Office Centrum

ICP Capital Partners is pleased to announce the successful acquisition of the Technopark real estate in Prague 5 at the border of Stodůlky and Jinonice. The exact acquisition price was not disclosed, but it is estimated at just over 10 million euros.

ICP Capital Partners identified the opportunity to acquire real estate under attractive conditions due to its unused potential. The building, after departure of the largest tenant, had a lower occupancy rate (about 65%) for the last two years. The objective of ICP is to achieve maximum occupancy through active asset management and targeted marketing – in particular by changing the strategy of focusing on small and medium-sized Czech companies that are expanding and looking for high-quality offices with good accessibility at an attractive price.

Technopark is an A class administrative building of 8.633 square meters. It was built in 2003 with a sufficient capacity of 153 parking spaces both outdoor and in the underground garage. Its technical parameters and stable low operating costs confirm the sophisticated design and use of high quality materials with great emphasis on the high quality of the work done. Large opening windows provide plenty of light, user comfort and offer very nice views of the surrounding greenery.

The building is located on the street Pekařská, 7 minutes walk from the metro station Nové Butovice in Prague 5. During the last few years a large number of apartment buildings have been built in  the area, which represent potential for possible conversion of a part of the ground floor to civic amenities / retail.

At the same time, the building is located near Rozvadovská spojka – the connector to D5 motorway. Its location is therefore an ideal location for headquarters or branch offices with a focus on Germany and Western Bohemia.

Marek Klaus, a partner at ICP Capital Partners, says: “The under-average occupancy of office space, the unused ground floor potential and the excellent technical condition of the building offer a lucrative opportunity with the potential for premium income realized through active asset management.”

WINDOW HOLDING

The ICP Group has been the majority shareholder of Window Holding, the largest Czech window maker since 2015. Window Holding was formed by the merger and legal merger of the three most important producers in the Czech Republic, Vekra, OTHERM and TWW, thus becoming the largest window maker on the Czech market.

In a short period, Window Holding managed to increase its market share in the domestic market. Today it has four production plants in Lázně Toušeň, Velké Meziříčí, Husinec and Zašová and employs 850 people.

ICP Capital Partners entered the company at a time when it faced financial problems caused by excessive bank loans for the planned expansion. High financial costs caused a cash deficit.

ICP Capital Partners has transformed its debt into equity, so the cost of principal and interest payments has significantly reduced. The company has gained the time to properly implement the acquisitions and their planned valorization. It can focus more on operations and increasing the turnover and EBITDA. ICP Capital Partners believes in the importance of proper management motivation, so it has divided a quarter of shares among senior executives.

“We see Window Holding as a medium-term, strategic investment. We want to develop it, invest in technologies and business networks both in the Czech Republic and abroad, “said Ondřej David, a partner at ICP Capital Partners.

OPTIKA ČIVICE

Since 2014, ICP Group has been the majority investor of Optika Čivice, the largest Czech manufacturer and supplier of spectacle lenses. The remaining 25% owner is also the company’s CEO and respected specialist Petr Vrubel.

Optika Čivice is a purely Czech, dynamically developing company that quickly gains and continues to strengthen the position of one of the most important suppliers of spectacle optics in the Czech Republic. The company has a long history and tradition – the original state enterprise Oční Optika was privatized in 2002.

The company, as the only Czech lens manufacturer, has faced a large competitive pressure from multinational corporations and holds a steady 15-20% market share. The main product is the production and delivery of optical lenses, by-products are specialized devices, small tools and spectacle frames.

Optika Čivice builds its brand on long-term and stable customer relationships and product quality. Thanks to this, it supplies over 800 independent optics across the Czech Republic.

ICP believes in a combination of the growing economy, the growing glass lenses market, the reputation and quality of Optika Čivice. At the same time, companies provide a high-quality and strong investor base to further develop the company in today’s competitive market.

BENEŠOVSKÁ 38

The ICP Group is the owner of the land in an exceptional location in the residential area of Vinohrady. A land of approximately 1,500 m2 is a site for the future development of small to medium multifunctional buildings.

Today, an original villa is located on the land. The villa does not meet the static requirements and the reconstruction is not suitable. The project Benešovská is considered as a brownfield for the realization of a smaller office building.

In the future, the new office building will offer over 2 thousand square meters of office space with sufficient parking space. The project will offer future tenants a modern office with parking and good public transport access.

Jihlava 2 development

Jihlava 2 is development project of industrial halls. ICP Group acquired 90 000 m2 of a land located in southern part of Jihlava in the immediate vicinity of D1 highway and the outlets to Znojmo and Vídeň.

Our plan is to build two modern production or logistics halls in a high standard with total roughly area of 15 000 m2 with the headroom of 7-10 m in the first phase of the project. The halls will include administrative and social facilities. Inner layouts will be customized to the tenant’s requirements. We will offer modern premises in the unique location.

Appartment buildings Olomouc and Jabkenice

The ICP Group, from the position of the investor, financed the restructuring and reconstruction of three older apartment buildings in Olomouc and Jabkenice. The properties consist of 97 appartment units. ICP Group sold the project in 1Q18 with an approximate IRR of 15%.

The ICP Group financed its partner in buying three apartment buildings in Olomouc and Jabkenice. The project consisted of auctioning the real estate in 2015, subsequent refinancing and transformation into housing cooperatives.

This strategy enabled the successive sale of residential units to both current and new tenants. Cooperative housing allows tenants to own a share of real estate while paying similar repayments as the original rent. In addition, co-operatives are motivated to repay co-operative shares and convert their housing unit into personal ownership.

As the remaining cooperative shares were sold to investors with a long investment horizon in the first quarter of 2018, successful pilot projects are recognized.

Dolnis

In 2015 ICP Group purchased from Sberbank receivables secured by a 13,000 m² multipurpose area in Prague. The area is very well situated between the highway and Jižní spojka. Today, the entire site generates a stable operating profit and offers the possibility of future development for light industry or warehouses.

The ICP Group won a competition to buy problematic receivables from Sberbank worth tens of millions. Our team subsequently suspended the ongoing insolvency proceedings and agreed with the borrowers to restructure the debt. Today the project is financially stabilized.

ICP considers the future use of the site, as the current and proposed metropolitan plans allow for the expansion of existing built-up areas. Due to the very attractive and accessible location, this is a project with high added value. ICP considers tailored development for a potential long-term tenant.