Genesis Capital, a leading private equity firm in the Czech Republic, acquired a majority stake in the company Servodata, an established Central European supplier of information and communication solutions. The investment via the GPEF II fund will become the foundation for a further development of Servodata primarily on the Czech and Slovak markets.
The Company’s CEO Rostislav Jirkal remains a significant shareholder with decision-making powers. Servodata will continue to be managed by its present management and the Fund’s representatives assumed seats in the Supervisory Board. The changes will not affect Servodata’s present business activities.
“Servodata has all the right prerequisites for a further successful growth on the Czech and broader Central-European market. It holds a strong position in terms of the supply of corporate ICT solutions, supported by the growing interest of companies in technologies that yield efficiency and savings. The Company has wide established customer base and is governed by an experienced and motivated management team,” explained Jan Tauber, Managing Director of Genesis Capital.
Rostislav Jirkal, the CEO of Servodata, added: “I am proud that following the thorough due diligence carried out by a reputable accounting and audit company, GPEF II confirmed its interest in a capital participation in Servodata. The Fund’s investor composition guarantees preservance of the high standards that are applied on the Fund´s portfolio companies. For Servodata, it is a further confirmation of the fact that we are a company that features not only top-level expertise in information technologies, but also highly professional management that meets the most demanding criteria. The development plan presented to the Fund’s representatives envisages dynamic growth and I look forward to the upcoming years, when our common vision will be realised.”
The transaction is subject to approval by the Antimonopoly Authority (the Czech Office for the Protection of Competition). The closing is expected by the end of September 2011.
About Genesis Capital
For more than ten years, Genesis Capital has been offering financing to small and midsize companies in the Czech Republic and Slovakia, to support their growth and development. Via its private equity funds, Genesis Capital has already supported more than twenty dynamic Czech and Slovak businesses, many of which have become cutting edge in their chosen field, thanks to their relationship with Genesis Capital. In total, Genesis Capital has provided more than 2 billion Czech crowns in growth capital for companies in the Czech Republic and Slovakia.
Since its inception in 1999, Genesis Capital has managed three private equity funds with a total volume of almost € 100 million. The first two funds have already fully committed their capital. At present, Genesis Private Equity Fund II, with a volume of € 40 million, is open and available to finance prospective investments. The companies into which Genesis Capital has invested include AB Facility, pietro filipi, CCS, ETARGET, Gumotex, Energetické strojírny Brno, Roltechnik, Profimedia, Vydis, GTH CATERING, and others.
In the present environment, marked by difficult access to standard bank financing for small and medium-sized enterprises, Genesis Capital funds provide an advantageous alternative for acquiring the required capital for companies with growth potential; the funds also focus on buy-out financing. Their investors include the European Bank for Reconstruction and Development, Česká spořitelna, and the Belgian investment company Gimv.
Servodata has a long-term specialisation in the company infrastructure sphere. Its portfolio includes storage products and components for data storage, security technologies, and infrastructure software, including licence administration. With consolidated revenues of CZK 1.01 bn, Servodata is among the top thirty ICT companies on the Czech and Slovak markets. Servodata’s dynamically expanding network of business partners includes more than 500 companies.
The company has been certified under the ISO 9001:2000 Quality Management System and the ISO 27001:2005 Information Security Management System, and it has obtained the “SECRET” certification awarded by the National Security Authority. Servodata has a direct relationship to producers and cooperates with partner networks of suppliers of solutions, system integrators, and vendors. Since its establishment in 1991, it has operated in the EMEA region, with its head office in Prague and a branch office in Bratislava.
For more information, see the website www.servodata.net.