Global equity investor Advent International recently announced the acquisition of two partner companies from the Czech Republic’s Penta Investments. The two companies,TES Vsetín and MezServis, make up what will be called the TES Group. Advent will acquire 100% of the shares of both companies pending the approval of German and Czech authorities.
Penta first purchased TES Vsetín in 2008, adding MezServis two years later. The deal continues a long tradition for Advent which has seen the company investing in the CEE industrial sector for more than 20 years.
TES Vsetín (www.tes.cz)
TES Vsetín is a European leader in designing, manufacturing, and installing electric machines and technology. From small and simple machines for a tool and die company, all the way up to complete design and implementation of hydropower plants and windmills, the company has been providing the finest equipment and service for more than 90 years. Today TES Vsetín is heavily engaged in renewable energy projects and employs a staff of more than 500. Products are exported to various parts of Europe, Asia, and the U.S. TES Vsetín makes its home in the southeastern Czech city of Vsetín.
MezServis a.s. (www.mezservis.cz)
MezServis traces its roots back to 1919 and the well-known inventor/engineer Josef Sousedík. Although Sousedík’s original company was eventually built into a world leader in the electro-motor industry, eventually it went out of business in 1989. MezServis was reborn in 1993 with a new focus centered around manufacturing electric drives, lift switchboards, test beds, and single-purpose electric machines. In addition to manufacturing and installation, the company also now provides support services including maintenance and repair. A staff of nearly 200 works from facilities in Vsetín.