Genesis Growth and ADAX funds become new owners of UPS Technology

Both funds specialize in companies with high growth potential and own the same shareholding in UPS Technology. The new owners plan to strengthen the management team, expand critical infrastructure product offering of the company and add experience in expanding into foreign markets.

“The acquisition of UPS Technology marks another step in the execution of our strategy to invest in companies that deliver stable performance but need effective assistance with technology and business development that meets the needs of the current market to fulfil their high growth potential,” said Václav Salač, Executive Director of the ADAX Corporate Succession Fund.

The acquisition of UPS Technology marks the first joint investment for ADAX Fond firemního nástupnictví and Genesis Capital Growth. “Both investors, ADAX and Genesis Growth, complemented each other well during the acquisition process. We very much appreciate this cooperation, it can be the beginning of our long-term cooperation,” says Salač.

Jiří Beneš, Managing Partner of Genesis Capital Growth, added: “We are pleased to announce another investment by GGEF I, a fund focused on investing in companies with strong growth potential and ambitious management teams. We look forward to working with the UPS Technology team and believe the company has significant future growth potential in the uninterruptible power backup market.”

He also thanked the founders of UPS Technology, Dušan Dostál and Jaroslav Davídek, for their effective cooperation, under whose leadership the company has achieved a significant position, especially in the Czech market of backup systems.

Marek Hoščálek, partner of Genesis Capital Growth, also confirmed ambition to support the further growth of UPS Technology. “The founders of UPS Technology have managed to build a stable and successful company, which is one of the major players in its field and which is able to compete internationally on both domestic and foreign markets. We are pleased to support the growth of a company with a strong position in the attractive segment of uninterruptible power supply systems through our fund.”