Genesis acquires majority stake in Sanborn

The CEE-focused GP acquired the firm via its €82m Genesis Private Equity Fund III, marking the fourth investment from the vehicle this year.

Genesis has taken a majority stake, while senior management and financial co-investor BDO Investment retain a minority stake, managing partner Jan Tauber told unquote".

In addition, the firm has hired new CEO Aleš Tichý to head the management team.

With the fresh capital, Sanborn intends to grow organically and expand its customer base in new markets.

The deal was signed at the end of November, and the closing is planned for the beginning of December 2017.

Company
Established in the 1920s and nationalised in 1948, the company was re-privatised in 1992 when Sanborn International became the majority shareholder.

The company produces and supplies components for manufacturers of generators and turbines, energy companies, heating plants and diesel engines. Customers include Siemens, Alstom, Dresser-Rand and MAN Group.

Sanborn exports around 40% to North America, 40% to the EU and the remaining 20% is distributed across the globe. The company's production site is located in Velké Meziříčí.

The firm posted revenues of around CZK 437m in 2016 and employs 200 employees.

People
Genesis Capital – Jan Tauber (managing partner).
Sanborn – Aleš Tichý (CEO).

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