APIOS (now called Coral Croatia) is an automotive fuel retail company which was founded in 2010 by Vedran Jaksic, entrepreneur with a background in the business. After the retail prices were liberalized in 2013, he managed to sign an OMV brand partnership for retail stations on the territory of Croatia.
Our team member Ivan joined the team in 2017 as CFO and co-owner and helped Vedran and the team propel the business from 11 retail sites and EBITDA of 0.8 mil EUR in 2016 to 26 sites and EBITDA of 6.1 mil EUR in 2020. In January 2021 the company was sold to Coral S.A. (Shell franchise), part of the Motor Oil Group.
This case has proven once again that there are no limits to what a great team, properly motivated and incentivized, is capable of achieving even in such an ‘old-school’, capital intensive business, as automotive fuel retail is. Vedran’s drive, coupled with the teams’ experience and orientation to detail, created significant equity value for all the stakeholders in a relatively short period of time.