Genesis, Avallon acquire Triton-backed Eqos Energie operations

Nicole Tovstiga
15 February 2018

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Poland-based Avallon and Czech Republic-based Genesis Capital have together acquired the Polish and Czech operations of Eqos Energie, which is backed by Triton Private Equity.

The deal was made via Avallon MBO Fund II and Genesis Private Equity Fund III (GPEF III). Both Energie Polska and Energie Česko are part of the Eqos Energie Group, which provides installation and speciality services for railway, energy and communication technology infrastructure across Europe.

Once the deal has closed, the Czech and Polish companies will operate under the new brand Stangl Technik.

For Genesis, the transaction marks the first deal in Poland (and sixth investment overall) for its third fund, which held a final close on €82m in September 2016.

The private equity firm partnered with Avallon for the first time to ink this deal. The transaction is subject to approval by the Polish anti-monopoly authority.

The decision to exit from the Czech and Polish markets is part of Eqos Energie's long-term strategy to focus on its core business, which includes energy, telecommunications and transport infrastructures.

In comparison, the group's divisions in the Czech Republic and Poland were historically fully concentrated on technical building services in their respective geographical markets.

Previous funding
Triton wholly acquired Austrian energy firm Alpine-Energie Holding from Spanish group Fomento de Construcciones y Contratas (FCC) in August 2013. Although financial details were not disclosed, press reports put the purchase price at close to €100m.

As part of the acquisition, the firm was rebranded to Eqos Energie in 2014. Triton said it intended to drive the firm's sales and operational processes and structures. Particular focus would be given to the improvement of project planning and process control to drive the profitability of Alpine-Energie's core business.

Company
Founded in 1920 and headquartered in Foetz, Luxembourg, Eqos is a service company specialising in communication technology, railways, energy technology and overhead lines. The company was founded as Energie Gesellschaft für Elektrische und Industrielle Unternehmungen, with original headquarters in Stuttgart.

The company employs a staff of 1,400 employees across 20 sites in four countries.

People
Genesis Capital – Alexander Kosovský (investment manager).
Avallon MBO – Piotr Miller (partner).
Eqos Energie – Eric Mendel (CEO).