Genesis buys 11 Entertainment Group

It is the eighth investment from Genesis Private Equity Fund III, which was closed on its hard-cap of CZK 2.2bn (€82m) in 2016. Unquote understands that GPEF III is still in its investment period and expects several more deals over the next year. The fund typically acquires majority stakes in Czech and Slovakian companies valued in the €8-16m range, providing equity tickets of €4-8m.

Unquote has learned that the investment did not include debt financing. Bank loans will be used in the future to co-finance the expansion plan.

A fourth fund is expected to be launched during the latter part of 2019.

Genesis will support the company's international growth in neighbouring countries.

11 Entertainment's management team has also been strengthened, and further capital has been earmarked by the founder and the new backer to support the growth plan.

The founder, Stefan Fritsch, has retained a minority stake in the business and remains in charge of day-to-day operations.

Company
11 Entertainment group is headquartered in Slovakia, with key operations currently in Hungary. It was founded in 2009 and is an indoor leisure entertainment provider, with five entertainment centres in Hungary offering activities such as trampolining, soft play and laser tag. The company's turnover is around €5m, Unquote understands. Its parks attracted 500,000 visitors in 2018.

11 Entertainment employs 45 people.

People
Genesis Capital – Tatiana Balkovicová (investment director), Radan Hanzl (partner).
11 Entertainment Group – Stefan Fritsch, Réka Kovács (co-founders).

Advisers
Vendor – Absolvo Consulting (corporate finance); Baker McKenzie (legal).
Equity – Kinstellar (legal); Deloitte (corporate finance).

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• Topics
• Buyouts
• CEE
• Consumer
• Hungary
• Genesis Capital
• Slovakia