Arx buys TES Vsetin from Advent

Arx drew equity from its ARX IV fund, which closed on €95m in 2017. The vehicle invests equity for majority stakes in lower-mid-cap companies mainly in the Czech Republic. TES represents the fourth investment from the fund.

As part of the transaction, Arx has agreed to partner with the company's existing management team, who will lead its future development.

Advent wholly acquired TES Vsetin via its €6.6bn fund GPE VI in May 2011 from buyout house Penta, according to Unquote Data.

Company
Founded in 1919 and headquartered in Vsetin, TES is an engineering company active primarily in the manufacturing of system components relating to electrical machinery, in addition to both the design and manufacturing of generators and electric motors. The company generated revenues of €60m in 2018 and currently employs 600 staff.

People
Arx Equity Partners – Michal Aron (partner).

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