Prague, March XX 2023: Investment company Central Europe Industry Partners (CEIP) has become the new majority owner of Kosyka, a company dedicated to the industrial production of wire harnesses and connectors for leading machine manufacturers, medical devices and automotive suppliers in Germany, Switzerland and the Czech Republic. The company bought a 90 percent share of the business into its private equity fund Central Europe Industry Partners II, while the remaining 10 percent belongs to co-investor Hoffmann Investments. The new owner intends to support Kosyka in further corporate growth both in terms of the number of customers and through new acquisitions of other cable harness manufacturers in the Czech Republic and Slovakia.
“Through our investment funds, our company helps to develop other companies based in the region of Central Europe. We made our first contact with Kosyka company approximately four years ago, which means that it is one of our long-term acquisition opportunities. Our several-year partnership with its owner, Martin Saitl, who continues to be company’s chief executive officer and will proactively help us with the smooth and safe transition, was a crucial part of the whole arrangement,” says Ondřej Benáček, the Managing Director of CEIP.
Kosyka company, which is based in the city of Jihlava, entered the market in 1995. It specializes in the construction of connectors and the manufacturing of wiring harnesses designed for consumer-oriented electronics, automobiles and other industrial branches. Its target customers are primarily leading manufacturers of industrial machinery, medical devices and automotive suppliers not only in the Czech Republic, but also in Germany and Switzerland. In 2022, the company generated sales in the amount of CZK 290 million. Experienced manager Radovan Putna was named a new CEO of the company.
The successful transaction was overseen by Martin Šubrt and Vladimír Hejduk from Rowan Legal law office. They were responsible for the complex legal and tax counseling. The means of financing, which include both the subsequent recapitalization loan and the operational financing, were provided by UniCredit Bank.
Kosyka is the second company that CEIP has bought into the private equity fund Central Europe Industry Partners II since its inception in December 2022. The first one was AMiT, which develops and manufactures electronics for trains and trams, as well as control systems and electronics for industrial, transport and building automation. The fund currently governs over resources of CZK 1 billion and intends to increase this amount to CZK 1,75 billion till the end of the year and close the fund to investors.
About Central Europe Industry Partners (CEIP)
Central Europe Industry Partner (CEIP) is a private equity fund (CEIP I and CEIP II) focused on industrial and technological enterprises, manufacturing and B2B services in the Czech Republic and Slovakia. Since 2017, CEIP has been a reliable and in-demand partner for enterprise founders in search of a new responsible owner for their companies, as well as a unique tool for investors looking to tap into the industrial, engineering and business potential of the Czech Republic and Slovakia. CEIP is led by skilled and stable management team with many years of experience in governance and development of local and international industrial companies. The value of assets under management of the first fund corresponds to CZK 1.6 billion (as of 31 December 2022).
