Genesis Capital Invests in Slovakia-based 3070 Group, Acquires Czech Republic-based Swell (CEE and CIS)
Source: Genesis Capital, Unquote.com | Author(s): Kenny Wastell
Czech Republic- and Slovakia-focused private equity fund manager Genesis Capital has acquired a 51 percent stake in 3070 Group, a Slovakia-based retail design consultancy company. The investment will allow 3070 to enter the financial services, fashion and automobile markets, with plans to expand the business in Europe in the next five years. Separately, Genesis Capital has acquired a 100 percent stake in Czech Republic-based automotive research and development company Swell from the company’s two former founders and owners. Commercial bank Komercni Banka provided debt to support the buyout. Financial details of the two transactions, which were structured through Genesis Private Equity Fund II, were not disclosed.