GAF specializes in complex custom processing of steel, stainless steel and aluminium. The company's products are characterized by high quality and precision, meeting strict certification criteria, and have a wide market application in the food industry, healthcare, textile or rail transport industries, among others. Genesis Private Equity Fund IV, a private equity fund from the Genesis Capital group, has entered into an agreement to invest in a majority stake in GAF. The founder and current 100% owner, Mr. Luděk Fofoňka, will retain a significant stake in the company. The key managers are investing in the company alongside Genesis and Mr. Fofoňka. At the same time, they take over Mr. Fofoňka's role in the top management and together with the new owner plan to build on the successful development of the company in recent years. The transaction is expected to be completed in April 2024.
"We are delighted to join forces with Mr. Fofoňka and top managers of GAF, who have been with the company professionally for a long time, and to build on GAF's impressive track record of success. Despite the difficult macroeconomic situation, GAF has more than doubled its turnover in the last 4 years and strengthened its market position. GAF has built its growth on a long-standing partnership with its customers, supplying them with high quality products tailored to their specific requirements. We would like to continue this success story and leverage our experience to help further develop the company and ensure a smooth handover of management roles", comments Tatiana Balkovicová, Senior Investment Director at Genesis Capital Equity.
Luděk Fofoňka, co-founder and current CEO of GAF, said: "I have been building the company for more than 30 years and I am proud of how far it has come in that time. Last year we made significant investments into the construction of a new hall and paint shop in Žamberk and in the acquisition of our business partner GAF Dašice. I am pleased that we have found a strong and ambitious partner to help us take GAF even further. I am convinced that my long-time colleagues David Rosenberger and Lukáš Pech will also positively contribute to our further development by moving into senior management roles."
David Rosenberger, GAF's new CEO, added: "I am delighted to have been given the opportunity to lead GAF and build on Mr. Fofoňka's many years of work. I am confident that I can utilize my knowledge and experience and look forward to writing another successful chapter in our company's history with a strong partner at our back."
"The acquisition of a majority stake in GAF is another investment of our funds in the specialised manufacturing sector. It is one of our focus areas in which we have been consistently successful. We are very pleased that we can support further development of GAF", concluded Radan Hanzl, Partner at Genesis Capital Equity.
About Genesis Capital
Genesis Capital is a private equity group that offers growth and development financing to small and medium-sized companies in Central Europe. Since its foundation in 1999, Genesis Capital has advised six private equity funds with a total volume exceeding EUR 350 million. These funds have already supported more than 70 companies.
At present, Genesis funds hold investments in the following companies: Hecht Motors, Borcad CZ, TES Vsetín, XBS Group, PFX Group, STT Servis, AV Media, HP Tronic/Datart, 11 Entertainment Group, Summa Linguae Technologies, Conectart, GTH catering, R2B2, Home Care Promedica, HC Electronics, JP-Prolak and SEA - Chomutov.
For more information, please visit: www.genesis.cz/en
About GAF
GAF was founded in Žamberk in 1993 by the current owner Luděk Fofoňka in partnership with Jaroslav Grus and from its very beginning it was focused on engineering production. Over the years, thanks to significant investments in new technologies and production expansion, the company has developed into a reliable supplier in complex custom metalworking production. Currently, GAF has an annual turnover of almost CZK 400 million and has become a strategic partner in component and equipment supply for many renowned companies in the food, medical and railway industries both in the Czech Republic and abroad.
For more information, please visit: www.gaf.cz/en
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Genesis Capital media representative:
David Vondra, Insighters
E-mail: david.vondra@insighters.cz, tel: +420 776 700 131