Less than five years after entry in Servodata, Genesis Private Equity Fund II (GPEF II) sells its share to a new investor – Czech company BDO Advisory which is part of the fifth biggest global network of audit and consultancy companies. During the Fund´s participation, Servodata that started as a family business developed into a strong group offering a broad portfolio of services in the area of information technologies.
The contract on sale of 100% of the Fund´s share in Servodata was signed on 15 April 2016 in Prague. “GPEF II is selling its share being persuaded that we helped Servodata to advance from a family business into a significant independent entity controlled by professional management which is ready to become part of such a global advisory group as BDO. I am persuaded that the entry of a new investor into Servodata is a guarantee of further long-term strategic development”, says Jan Tauber, Managing Partner of Genesis Capital, private equity advisors to Genesis Funds when commenting on the transaction. CN Finance was the financial advisor of the seller.
“Acquisition of Servodata is clearly in line with our strategy of expanding the service portfolio also by services in the area of management consultancy and training”, says Petr Kymlička, partner in BDO Advisory. “Already today, we are offering assistance and support to our clients in directly related areas, such as optimisation of individual processes, activities and technologies as part of the management system”, adds the representative of the new owner who is buying also the share of the minority shareholder in addition to the share held so far by GPEF II.
Servodata, a joint stock company, has been focusing over the long term on the area of corporate infrastructure. GPEF II entered the company with the aim to provide capital for further development and enable expansion of information and communication technology services offered by Servodata both in the Czech Republic and Slovakia.
Genesis acquired the majority share in Servodata in 2011, with Rostislav Jirkal remaining the minority shareholder. Major changes started in 2013 with launching of the company transformation focusing on services and three acquisitions carried out in line with the development plan. Entry into S-COMP Centre CZ allowed Servodata to expand its portfolio by services in the area of Microsoft technologies training and operation. The acquisition of DoxoLogic and recent acquisition of Enlogit expanded the offer of services and solutions in the area of corporate systems (portals and integration solutions) specialising on Open Source.
“I perceive the transaction as the culmination of the successful transformation of Servodata group – the aim of which was to provide strategic and complex services and solutions with added value and competitive advantage to its clients. The new strategic owner is fully aligned with our long-term strategy and this connection brings about numerous business and factual synergies to us and our clients. When selecting the partner, we wanted to ensure a compatible portfolio of services and the two companies had similar approach to HR and corporate culture as well as professional standards”, says Jiří Vytlačil, CEO and head of the Board of Directors of Servodata Group when commenting on the transaction. He joined the group in 2013 with the aim of developing a new focus on services and assisting in the transformation as such.