Alexey Melnikov sold 25% in F Plus Equipment and Development, the parent structure of the Fplus holding. The owner of 19% was the investment company “X 2”, another 6% was received by the former top manager of one of the Interros structures, Alexander Sinyak. The parties do not disclose the details of the transaction; market participants estimate the share at approximately 10 billion rubles. Mr. Melnikov himself only recently consolidated 100% of the company. The resale of a quarter of it, market participants and experts believe, may be due to a lack of funds and the difficulty of attracting external financing, including for the initial consolidation of Fplus.
“Kommersant” noticed that the founders of F Plus Equipment and Development LLC (the parent structure of the Fplus IT holding) included new faces: 19% was received by the investment company “X 2” (71% from Oleg Barabanov, 25% from Alena Baendaeva and 4% from Andrey Ivoilov), another 6% from Alexander Sinyak. Data about this appeared in SPARK-Interfax on November 16. A message on the X-2 website states that the company became one of the founders of the holding.
Previously, F Plus Equipment and Development LLC was 100% owned by Alexey Melnikov; he consolidated the company in October, purchasing 50% from Vladimir Kornev, Cnews reported.
Managing partner of X-2 Oleg Barabanov explained that the company is “actively investing” in the industrial sector and the development of information technology: “These areas are our priority now, which is why the deal was concluded with Fplus.” The parties did not disclose the parameters of the deal.
Fplus was created on the basis of Marvel Distribution, founded in 1991 by Sergei Girdin. The holding includes structures involved in the distribution of consumer electronics, servers and data storage systems, the development of automated workstations (Getmobit), software developers, etc. Financial indicators are not disclosed. According to TAdviser, in 2022 Fplus’s revenue amounted to 215 billion rubles.
“X 2” includes the RRT auto holding, the developer “IMS”, the valve manufacturer JSC “Zamya Truda Plant”, etc. “X 2” estimates its revenue at the end of 2022 at 2.8 billion rubles. The shares of all participants in X-2, according to SPARK-Interfax, are pledged to the Bank of St. Petersburg. Mr. Barabanov held the position of adviser to the chairman of the board from 2017 to 2020.
All that is known about Alexander Sinyak is that until 2012 he headed Lesnaya Skazka LLC, owned by Vladimir Potanin’s Interros. Mr. Sinyak did not answer Kommersant’s calls.
The general director of the electronics manufacturer Beshtau, Oleg Osipov, believes that the transaction amount did not exceed 10 billion rubles. A Kommersant source in a large electronics manufacturer gives a similar assessment. According to Mr. Osipov, the main reason for the sale of the stake could be “the problem of lack of investment and working capital.”
One of Kommersant’s interlocutors believes that X 2 has access to “cheap foreign loans that Fplus now needs.” Another Kommersant source adds that we may also talk about financing on attractive terms from Bank St. Petersburg.
According to a Kommersant source in one of the large electronics manufacturers, Mr. Melnikov might need funds to close his own deal to consolidate the company. Moreover, Kommersant’s interlocutor does not mean the relatively recent buyout of Mr. Kornev’s share, but the settlements with Sergei Girdin, which allegedly occurred only in 2022.