JŠK advised private equity funds GENESIS CAPITAL and Avallon MBO Fund on the acquisition of TES VSETÍN, a traditional Czech manufacturer of electrical machines and components.
With more than 100 years history TES Vsetín s.r.o., based in Vsetín, Czech Republic, is an expert in complex engineering and production of its own proprietary electrical machines and related system components.
Genesis Private Equity Fund IV, the private equity fund of Genesis Capital, and Avallon MBO Fund III, a management buyout private equity fund of Avallon, team up with the existing management team of TES to acquire 100% of the Company from funds managed by ARX Equity Partners. The closing of the transaction is expected in February 2023 and is subject to approval by the Czech anti-monopoly authority.
“The investment into TES Vsetín is an opportunity to take over the torch from ARX and support a traditional Czech manufacturer on its commenced journey back to the limelight. CEO Manfred Lerch has gathered an excellent management team with a strong appetite to use TES’ competitive advantage of having a fully vertically integrated production process to turn it into a leading European electric machines and components producer. In addition to an organic way of growth there seem to be also interesting potential add-on opportunities in the region,” comments Martin Viliš, Partner at Genesis Capital Equity.
“It was our pleasure to work with the JŠK team, Tomáš Doležil and Daniel Pospíšil in particular. We appreciate their business-oriented approach and deal-oriented focus,” Pavel Kvíčala, the Legal Partner of Genesis Capital said.
The legal team was led by partner Tomáš Doležil, strongly supported by senior associate Daniel Pospíšil in the role of executive lawyer and other team members Klára Šmídová and Hana Císlerová. Vladěna Svobodová was responsible for competition matters.
“We were more than pleased to support Genesis and Avallon on this quite unique private equity transaction,” Tomáš Doležil said. “It is the first time that Genesis and Arx, as leading institutional private equity funds in the Czech market, transacted with each other.”