Clifford Chance

Clifford Chance advises Česká spořitelna on financing of acquisitions of Schulte and GAF by Genesis Capital

Clifford Chance's Prague office has successfully advised Česká spořitelna on acquisition financings relating to two significant transactions by Genesis Capital Equity in the Czech Republic. The first transaction involved the acquisition of a majority stake in Schulte Group, an established provider of technical building services specialising in HVAC solutions. The second transaction saw Genesis Capital invest in GAF, a reputable manufacturer known for its specialised metal products.

Structuring of both financings has been carefully crafted to accommodate the unique aspects of the deals, such as the founder(s) in both instances retaining significant stakes (i.e., rebuying into the new structure alongside Genesis Capital) and the key managers being newly involved as minority investors. These indicate tailored financing solutions that support the companies' ongoing operations and expansion, while accommodating the new ownership framework.

Genesis Capital, a private equity group with Czech origins, provides growth and development financing to small and medium-sized enterprises in Central Europe. Since its inception in 1999, Genesis Capital has managed six private equity funds with a combined volume of over EUR 350 million, supporting more than 70 companies.

Schulte Group is a renowned group of companies specialising in the comprehensive supply of technological units and technical equipment for industrial, logistics and warehouse facilities as well as for retail parks and commercial buildings.

GAF specializes in complex custom metalworking production. The company 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.

The Clifford Chance team was led by counsel Dominik Vojta, under the supervision of partner Miloš Felgr and with support from junior lawyer Alena Rumlová.