JSK has advised Genesis Capital and the Avallon MBO Fund on their acquisition of TES Vsetin. CMS reportedly advised ARX Equity Partners on the sale.
The transaction remains contingent on regulatory approval.
According to JSK, “with more than 100 years of history, TES Vsetin, based in Vsetin, the Czech Republic, is an expert in complex engineering and production of its own proprietary electrical machines and related system components.”
Genesis Capital and Avallon MBO are private equity funds. According to JSK, they have teamed up “with the existing management team of TES to acquire 100% of the company from funds managed by ARX Equity Partners.” ARX had initially acquired TES Vsetin back in 2019 (as reported by CEE Legal Matters on October 17, 2019).
“The investment into TES Vsetin is an opportunity to take over the torch from ARX and support a traditional Czech manufacturer on its commenced journey back to the limelight,” commented Genesis Capital Equity Partner Martin Vilis. “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.”
JSK’s team included Partner Tomas Dolezil, Senior Associate Daniel Pospisil, and Associates Klara Smidova, Hana Cislerova, and Vladena Svobodova.
Editor’s Note: After this article was published, DLA Piper informed CEE Legal Matters it had advised Avallon MBO on the deal as well. The firm’s team included Poland-based Counsel Piotr Miller, Senior Associate Michal Sowinski, and Associate Jakub Niemiec.