NCP Shipyard had a concession on maritime good and together with its related company NCP Group have been producing special catamarans and providing refit and maintenance services for yachts, navy ships, and other vessels. NCP Shipyard was in bankruptcy procedure since late 2017, however all business operations continued and were carried through NCP Group.
ISKRA is a globally recognized (and largest Slovenian) provider of intelligent industrial solutions and cutting-edge electro technical products. The company aims at improving existing applications and introducing new technologies within variety of sectors, but with particular emphasis on energy, electro technical components, installations, traffic, telecommunications, and facility management.
In October 2018 ISKRA has signed an agreement with NPC's largest creditor on redemption of its claims from NCP including a pledge over concession and other shipyard's assets. In late January 2019 Croatian Government has approved transfer of concession to ISKRA Shipyard 1 Ltd., which was a condition precedent for closing. As part of the overall transaction ISKRA is taking over all operating assets of NCP Shipyard and employees and contracts of NCP Group allowing for undisturbed continuation of core business activities.
GRUBISIC & Partners acted as an exclusive financial advisor to the management of NCP, which included financial analysis, simulation of various scenarios and preparation of a bankruptcy plan, transaction structuring and evaluation of appropriate models for transfer of business operations and NCP’s assets to ISKRA.