23. 1. 2023

Annoucement of ownership change of TES VSETÍN s.r.o.

We would like to inform you, that 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 TES Vsetín s.r.o. from funds managed by ARX Equity Partners. The closing of the transaction is expected to take place in February 2023 and is subject to approval by the Czech anti-monopoly authority.

The aim of the new shareholder is to further develop business activities in our current market segments, means production of electric motors and generators, production of electric machines components and automation with a focus on the development of relations with our current customers and partners as well as with further strategic development.