Genesis Capital Acquires a 100% Interest in Sieza, a company providing integrated security systems delivery and installation services
Genesis Capital, one of the largest venture capital fund managers in the Czech Republic, has added another acquisition to its investment portfolio. Through its GPEF II fund, it acquired a 100% interest in Sieza, s. r. o.,a leading Czech provider of services connected with supplying and installing integrated security systems.
Sieza is a well-established company with a stable market position, sound financial situation, and highly qualified employees. Siezas quality is continuously supported through reinvestments of a large portion of its income into development, production, and distribution of innovative security systems and control technologies. We want to achieve further growth in the production and supply of security technologies, including their export abroad. We also plan to support the expansion of the offered services through add-on acquisitions in related areas. The development will be achieved in close cooperation with the current management teamthat will continue in the company under the new ownership structure, explains Jan Tauber, Managing Partner of Genesis Capital.
GPEF II acquired the 100% interest in Sieza, which was established in 1991, by purchasing the ownership interests from the companys previous owners.
Sieza features a history of more than twenty years. We have been considering the entry of a new investor for a long time and one of the reasons for the ultimate decision to enter into an agreement with Genesis Capital is the fact that the new owner strives to achieve further development and yet better results while using the companys existing employees and the know-how it has built,says Nad?da Waksmundská, one of the sellers.
The management team, led by the CEO Ferdinand Dvo?ák and the sales director Tomá Kostúr, will stay with the company and is prepared to work on its further development.
The change in ownership is a transformation that will not have any major impact on how Sieza works and where it is headed. It is very important for us that we do not fail to maintain the confidence entrusted in us by our customers. I also believe that this acquisition will help us initiate new processes and services with which we would like to approach our customers in the near future, saysFerdinand Dvo?ák, CEO of Sieza who has been working for the company in various positions since 1992.
Source: Press Release on www.genesis.cz/