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Czech fund Genesis Private Equity Fund IV and Polish fund Avallon MBO Fund III have agreed to acquire 100% of TES Vsetín, a manufacturer of electrical machines and components, from funds managed by Arx Equity Partners. The transaction is expected to close in February 2023, pending antitrust approval.
Genesis Capital has acquired TES Vsetín, a manufacturer of generators and electric motors for the energy industry, from previous owners. The deal value is in the hundreds of millions of Czech crowns.