Genesis Capital exits JRC Czech

The exit comes nearly three years after Genesis wholly acquired JRC through its GPEF II Fund in a carve-out from Britain's Game Group. The transaction was part of restructuring efforts for the struggling group.

Between the 2012 deal and the 2015 exit, a minority stake in JRC was acquired by its original founder Slavomír Pavlíček, who exited alongside the GP.

The sale of JRC marks the third exit for Genesis's GPEF II Fund, which sold central European photo bank Profimedia and marketing technology and materials provider HSW Signall in January 2014.

Genesis is currently preparing to launch its third fund, Genesis Private Equity Fund III, which will follow in the footsteps of its predecessor vehicle and focus on backing SMEs in the Czech Republic and Slovakia.

Company
JRC is a retailer of videogames software and hardware with 30 shops in the Czech Republic and 10 in Slovakia, as well as an online offering.

The company was re-established as an independent company in a 2012 carve-out, having previously been acquired by Game Group, and bolted on the Slovakian Brloh games retailer the same year.

JRC generated revenues of around CZK 500m last year.

People
Tomáš Čása is an investment manager at Genesis. Marek Měrka is the CEO of JRC.

Advisers
Vendor – CN Finance (Corporate finance); Havel Holásek & Partners (Legal).

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