Genesis exits Swell in trade sale

With the company's management also selling its minority stake, Altran becomes the sole owner of Swell.

During Genesis's tenure, Swell expanded its board of directors and executive management. The GP claims that during its ownership the company's sales volume has increased and its range of services offered has broadened, while the head count increased from 120 to 160.

Since Swell's acquisition two years ago, Genesis has raised its third buyout fund, for which it held the final closing on €82m in September 2016. The vehicle's first and only portfolio company so far is also active in the field of research, Czech healthcare research and regulatory service Quinta-Analytica.

Previous funding
Genesis acquired Swell in June 2014 as the original founders sold their shares. Capital for the transaction was drawn from the €40m GPEF II fund, which was launched in 2009 with a €60m target. Komercni Banka provided debt to support the buyout.

Company
Founded in 1993 and based in Hořice, Swell is an applied research and development business for the automotive industry. The range of its services includes construction, numerical simulations, development and special components testing, car bodywork prototypes and production stamping tools.

The business employs 160 people and has customers in 15 countries. They include Škoda Auto, Magna, Hella, Continental, Bosch, Honeywell and Iveco.

People
Genesis Capital – Jan Tauber (managing partner).
Swell – Petr Havlík (managing director).

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