The Penta private equity group will become a new owner of the energy and engineering company, TES VSETÍN, s.r.o.

The transaction, which will be reviewed in the next few days by the Czech Anti-Monopoly Office, will be completed by the half of this year. The purchase price of the one hundred percent interest will not be disclosed upon agreement of both parties.

TES VSETÍN, s.r.o., is a producer of generators and electric motors as well as a supplier of parts and subassemblies of electric machines for important world producers from the sector of energy and electrical engendering. The company’s annual turnover exceeds 1 billion Crowns and belongs, with approximately 600 employees, to the most significant employers in the region.

"Current results of TES VSETÍN have convinced us to continue in cooperation with the existing management. We want to focus ourselves on a further growth of the company’s value by improving internal processes of the company, increasing the labour productivity and production capacity, and searching for new opportunities in the energy engineering sector," Václav Brož, Penta´s investment manager, who has prepared the transaction, says.

"In the energy engineering sector, it concerns one of the most important acquisitions of the last era in Central Europe. Even though negotiations with parties interested in our company have not been easy, thanks to advisors from TPA Horwath, who have helped us find a financially powerful investor, we are satisfied with the transaction conditions and result. The new owner, the Penta group, represents a guarantee of a further successful development of TES VSETÍN," Petr Dušek, Director of TES VSETÍN, stated.

Penta is a Slovak – Czech private equity company, established in 1994. It devotes itself to acquisitions of large and medium companies, LBO, LBI, restructuring projects and since 2005, also to development. So far, Penta has invested most investment projects in, Bohemia, Slovakia, and Poland. The amount of Penta´s assets exceeds Euro 860 million and more than twenty thousand people work for in portfolio companies.

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