Czech private equity firm Genesis Capital has acquired a 47% stake in Prague-based advertising business POS Media Group.
The GP bought its stake in the business with capital from Genesis Private Equity Fund III, an €82m buyout fund that held its final close in September 2016. POS is the second investment by the fund, following the buyout of pharmaceuticals company Quinta-Analytica in June of last year.
Genesis acquired its stake from POS's founder and CEO Richard van het Bolscher, who remains the controlling shareholder after the private equity investment. The group's top management will also hold a stake in the business, and is expected to remain in place.
The CEO said in a statement that POS plans to grow organically for the foreseeable future, focusing on expansion of current portfolio products and services, as well as possibly exploring new markets.
Headquartered in Prague, POS is a provider of point-of-sale and in-store advertising products.
The company was founded in 1998 as International Media Ideas Group and operates across the Czech Republic, Hungary, Slovakia, Poland, Russia and Ukraine.
It had revenues of €29m in 2016 and employs a staff of 170.
Genesis Capital – Jan Tauber (managing partner).
Equity – Deloitte (financial due diligence); Kinstellar (legal).
Transaction will allow 72 stores to continue to operate as normal, saving 800 jobs in the process
Ardian will continue its strategy of external growth in the European food industry through the acquisition
Heikki Westerlund had taken up his position in 2013 and will stay on until a replacement is appointed
GP sold around 70% of the UK-based teleradiology business after a four-year tenure