Genesis buys majority stake in R2B2

The company's founders, Martin Čelikovský and Kamil Foltin, will retain minority stakes in the business.

Unquote sister publication Mergermarket reported in February 2020 that R2B2 was in talks with an unnamed investor who planned to assist the company with expansion abroad and to acquire a majority stake.

The GP deployed equity via Genesis Growth Equity Fund I, which held a first close on €31m in October 2019. The vehicle is targeting €40m and had raised €35m as of July 2020. The fund deploys equity tickets of €1-4m and focuses on investing in smaller companies than the firm's core private equity strategy. The fund targets businesses in the Czech Republic and Slovakia with revenues of up to €15m and EBITDA of up to €2m.

R2B2 is the first investment from the GP's debut growth fund.

Click here to view a GP Profile of Genesis Capital on Unquote.

Company
Founded in 2009, R2B2 is a digital advertising business that allows publishers to monetise their online advertising space. Its client base comprises 100 publishers and TV stations that sell placements to advertising agencies and direct advertisers, according to a statement. The company is based in Prague and also operates in Slovakia. R2B2 reported revenues of $9.1m in 2019 and has 25 employees.

People
Genesis Capital – Marek Hoščálek (partner); Jiří Beneš (managing partner).
R2B2 – Kamil Foltin (chief technology officer); Martin Čelikovský (CEO).

Advisers
Equity – Kinstellar (legal); PwC (financial due diligence, tax).
Company – Samak Business Advisory (M&A).

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• Topics
• Buyouts
• CEE
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• Czech Republic
• Genesis Capital