M&A Deal Summary

Advent International and Syntaxis Capital Acquire TES

On May 2, 2011, private equity firm Advent International and mezzanine finance firm Syntaxis Capital acquired electrical equipment company TES from Penta Investments

Acquisition Highlights
  • This is Advent International’s 1st and Syntaxis Capital’s 1st transaction in the Electrical Equipment sector.
  • This is Advent International’s 5th and Syntaxis Capital’s 1st transaction in Czech Republic.
Investment Fate
  • TES was sold to a consortium of financial buyers in 2019.
  • TES was sold to a consortium of financial buyers in 2023.

M&A Deal Summary

Date 2011-05-02
Target TES
Sector Electrical Equipment
Buyer(s) Advent International
Syntaxis Capital
Sellers(s) Penta Investments
Deal Type Secondary Buyout

Target

TES

Vsetin, Czech Republic
TES Vsetin is a manufacturer of generators and electric motors and supplies parts and assemblies to leading global energy and electrical engineering companies. TES was founded in 1919 and is based in Vsetín, Czech Republic.

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Buyer(S) 2

Buyer

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 91.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 186 of 353
Sector: Electrical Equipment M&A 1 of 2
Type: Secondary Buyout M&A Deals 14 of 58
Country: Czech Republic M&A 5 of 6
Year: 2011 M&A 6 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-02 Mezservis s.r.o.

Vsetín, Czech Republic

MEZSERVIS focuses on production, installation and repairs of electric machines and devices, especially electric drives and lift technologies.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-10 Synventive Molding Solutions

Peabody, Massachusetts, United States

Synventive Molding Solutions, Inc. is a solutions provider to the injection molding industry. Synventive is a designers, manufacturers and suppliers of hot runner systems and related components to the automotive, electronics, healthcare, and consumer packaging industries. Hot runner systems channel molten plastic from injection molding machines into molds. These systems are used in the molding of a variety of plastic products ranging from small medical devices to large automobile parts.

Sell -
Buyer

Syntaxis Capital

Vienna, Austria

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2006
PE ASSETS 250M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Syntaxis Capital is a private debt investor dedicated to providing long term capital to fast-growing medium-sized companies in Central Europe. It looks to invests in companies with an enterprise value of €50 - €300 million. Types of transactions include buyouts, growth capital, and consolidations. Syntaxis Capital was formed in 2006 and is based in Vienna, Austria with additional office in Warsaw, Guernsey.


DEAL STATS #
Overall 8 of 17
Sector: Electrical Equipment M&A 1 of 1
Type: Secondary Buyout M&A Deals 2 of 3
Country: Czech Republic M&A 1 of 1
Year: 2011 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-11 AXTONE Sp. z o.o.

Kanczuga, Poland

AXTONE Sp. z o.o. is a manufacturer of buffers and draw-gear devices for all types of rail vehicles.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-01 INFO-TV-OPERATOR Sp. z o.o.

Zamość, Poland

INFO-TV-OPERATOR Sp. z o.o. is a provider of radio and television broadcasting services in Poland.

Buy -

Seller(S) 1

SELLER

Penta Investments

Prague, Czech Republic

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 10.4B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Penta Investments Ltd. is a private investment firm focused on private equity and real estate. firm specializing in buy-outs and start ups transactions. Penta seeks to invest across Central Europe including Slovakia, Poland, and Czechoslovakia. The Firm targets companies with an average enterprise value of €150 million. Areas of interest includes facility management, aerospace, banking, energy, engineering, entertainment, financing, food processing, healthcare, insurance, investment fund, manufacturing, metal, refinery, retail, telecommunications, textile industry, transportation, wholesale and utilities. Penta Investments Ltd. was formed in 1994 and is based in Prague.


DEAL STATS #
Overall 18 of 34
Sector: Electrical Equipment M&A 1 of 1
Type: Secondary Buyout M&A Deals 5 of 7
Country: Czech Republic M&A 7 of 10
Year: 2011 M&A 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-02 Mezservis s.r.o.

Vsetín, Czech Republic

MEZSERVIS focuses on production, installation and repairs of electric machines and devices, especially electric drives and lift technologies.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-08 Fabryka Lin i Drutu Drumet Sp. z o.o.

Włocławek, Poland

Drumet is a steel wires, ropes and staple bands producer.

Sell -