The price of the "Class A" investment share as of 30 June 2026 was CZK 1.5595.
Assets under management (AUM) of the fund as of 30 June 2026 totalled CZK 724 million.
Press Release:
MAM Private Equity Fund has acquired telecommunications supplier Raycom; a new, strong group is being formed.
The investment fund MAM Private Equity Fund SICAV a.s. has acquired Raycom for its MAM Private Equity sub-fund. Raycom distributes equipment for the construction and maintenance of telecommunications networks in the Czech, Slovak, and Polish markets. For the fund, this acquisition is the first step toward building a new, strong group that will serve the telecommunications and data center sectors. The field is promising, partly due to the rollout of 5G networks.
Raycom includes the Czech companies Raycom s.r.o. and Telco VNT s.r.o., as well as branches in Bratislava and Warsaw. In all three markets, Raycom distributes materials from two of the world's most significant manufacturers of materials for telecommunications networks. Raycom's customers include all major telecommunications operators, energy companies, and railways.
Based in Vestec, Raycom has been on the market for over 30 years and reached revenues exceeding 250 million CZK last year.
The fund's founders have been investing in companies and projects in industry, trade, real estate, energy, and receivables for over 25 years. This acquisition is an important step for the MAM Private Equity Fund toward fulfilling its ambition to build a strong group that will distribute components and provide installation services for telecommunications and data centers in the CEE region.
"For the companies under Raycom, the MAM Private Equity Fund will be a partner that helps with further business development in a promising field, supported not only by the rollout of 5G networks and new technologies but also by increased pressure for quality, faster data transmission, and the demand for data centers. The planned group will create conditions for fully leveraging synergies between Raycom and other firms," said Raycom Director Tomáš Sutnar.
"Raycom is the first investment of our newly formed fund, which focuses on mid-sized, profitable companies in the CEE region. We are entering the company as a long-term partner and want to help Raycom in its further development. We view the telecommunications segment as stable and aim to offer our investors attractive future returns through our fund. We are building a segment-diversified fund, and further acquisitions will be added later this year," stated Jan Novák, representative of the MAM Private Equity Fund.
The Raycom group attracted interest from both financial and strategic investors. "In the end, the decision came down to several potential buyers. Ultimately, the seller chose the buyer who offered the best prospects for the further development of the company and its employees," said Ján Slavíček of KPMG, which served as the financial and legal advisor to the seller. "The number of Czech private equity funds focusing on the domestic corporate market is on the rise, and we expect them to form an increasingly strong group of buyers in the future," he added.
Press Release:
The investment fund MAM Private Equity Fund SICAV a.s. has completed the acquisition of COMGUARD a.s., a leading value-added distributor in the B2B cybersecurity market, for its sub-fund MAM Private Equity.
In addition to distributing technology products from leading global manufacturers such as Trellix, Sophos, Wallix, and Rapid7, the company provides a wide range of value-added services. It assists with the entire process of preparing and executing demanding IT projects—from initial analysis of the current technology landscape and designing the most suitable solutions based on the actual needs and requirements of its business partners' end customers, to implementation into production, follow-up service, and subsequent managed outsourcing or administrator training.
COMGUARD was founded in 2006 and quickly established itself as one of the significant providers of cybersecurity services and products in the Czech Republic and Slovakia. Thanks to a team of experienced experts and custom-tailored security solutions delivered to clients across various industrial sectors, it has achieved significant growth in recent years.
Jan Novák, partner at MAM Private Equity, stated regarding the transaction:
"The acquisition of COMGUARD represents a significant step forward in our strategy to expand into the IT sector, among others, where we want to support and develop medium-sized enterprises in both local and global markets. We believe that the deep knowledge and expertise of the team, as well as COMGUARD's excellent reputation, are the perfect foundation for further organic and acquisition-led growth. The cybersecurity segment, in which COMGUARD operates, has been growing at a double-digit rate in recent years. We are therefore pleased to be entering such an attractive market through this strong and established company."
COMGUARD will continue to operate under its existing management and remain an independent entity. The acquisition will provide COMGUARD with a stable foundation and the support of a strong financial partner, with the goal of supporting strategic leadership and development in areas such as international expansion, additional acquisitions, ESG, and talent management.
Aleš Nosek, CEO of COMGUARD, adds:
"Partnering with a strong player like MAM Private Equity opens up new opportunities for organic and inorganic expansion in the field of cybersecurity. This collaboration will allow us to accelerate our activities related to the company's dynamic growth and continue to expand our range of technological infrastructure and expert services for our business partners and their end customers."
Press Release:
MAM Private Equity Fund, BHS Private Equity Fund, and the Versute Investments group are acquiring the paper packaging manufacturer Van de Velde Packaging Unipap a.s. from Býšť near Pardubice (hereinafter UNIPAP Packaging) from the Belgian group P. Van de Velde N.V. for their portfolios.
MAM Private Equity Fund will thus be a 50% owner, with the other half acquired by BHS Private Equity Fund together with the Versute Investments group. The transaction took place over the summer and is subject to approval by the Office for the Protection of Competition (ÚOHS), upon which the funds will become new shareholders and expand their existing portfolios.
UNIPAP Packaging has been operating on the market for over 30 years and is one of the most significant players in the packaging field in both the Czech Republic and Central European countries. It has its own packaging development and production facilities for three-, five-, and seven-layer corrugated cardboard. Corrugated cardboard packaging is used primarily for transport, storage, and sales. It operates within a B2B business model and supplies its products to customers from various sectors, including construction, industrial manufacturing, electronics, the automotive industry, e-commerce, logistics, food and beverage, the chemical industry, glassmaking, furniture, the pharmaceutical industry, and the clothing industry. UNIPAP Packaging employs 140 people; its revenue reached nearly 550 million CZK last year, with an EBITDA of 90 million CZK. The price of the transaction has not been disclosed.
"For us, UNIPAP Packaging is an example of a company built on honest craftsmanship, stable relationships, and long-term product quality. Its position in the packaging materials market is strong – and we believe it has the potential to improve that position even further," says Jan Novák, one of the founding and managing partners of MAM Private Equity Fund, adding: "We are entering UNIPAP Packaging with respect for what has been built so far, and at the same time with a vision for how to develop it further. We do not want to change its DNA, but to help it grow."
From a wide range of standard products, UNIPAP Packaging dominates the market primarily with large-format cardboard packaging and fully recyclable, custom-made packaging solutions tailored to exact client specifications. It also offers solutions that combine cardboard with other materials, such as foam, plastic, or wood, which allows for the safe transport of even very fragile goods. Modern production facilities enable the simultaneous stitching and gluing of cardboard packaging parts, the combination of high-resolution flexographic printing with digital printing, and the application of impregnation to increase the moisture resistance of the packaging.
Nothing changes for employees. The new shareholders intend to retain existing jobs, including the company's current management, and believe that through new investments, innovation, and the development of business relationships, they will be able to secure further jobs in the future. "It is crucial for us that the new owners identify with the presented vision for the company's development and are interested in moving the firm forward while respecting what we have built here over the years. The partners from MAM Private Equity Fund and Versute Investments bring enthusiasm, capital, and a vision for growth. During the negotiations, it was clear that the new shareholders care not only about the numbers but also about the employees and the corporate culture," says Petr Sádovský, Director of UNIPAP Packaging.
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Press Release:
ME Logistics Holding, backed by the investment groups MAM Private Equity Fund and EDTI Group, has completed the acquisition of a 100% stake in PJ EXPEDIS and MUFF Logistics. The original owner, Martin Jeřábek, will remain part of the ownership structure, holding a 32% stake in the holding company through his firm, MJL Solutions. The new partnership structure combines the capital and management experience of the investors with Martin Jeřábek's know-how, creating a solid long-term foundation for further growth, service development, and strengthening the market position of both companies.
PJ EXPEDIS and MUFF Logistics are among the significant providers of logistics and service solutions for the telecommunications sector in the Czech Republic and Slovakia.
Jan Novák, managing partner of MAM Private Equity Fund, commented on this, the fund's 4th acquisition:
"We view PJ EXPEDIS and MUFF Logistics as high-quality companies with a long history, a strong market position, and an experienced management team. Our goal is not to change what works, but to be a stable and long-term strategic partner for these companies. Together with EDTI Group, we want to create a calm ownership environment that will allow the firms to continue growing and developing their services and business opportunities."
Original co-owner Martin Jeřábek remains part of the new ownership structure through MJL Solutions, having increased his stake to 32%. His continued role as a co-owner and manager ensures continuity in the management and professional know-how of both companies.
The new owners see significant potential for further development, particularly in areas known as 4PL (Fourth Party Logistics), which involves the comprehensive management of a customer's logistics processes. In addition to traditional logistics services, they intend to focus on expanding value-added services, supply chain coordination, optimization of warehousing and distribution processes, digitalization of logistics operations, and supporting the development of telecommunications infrastructure in the region.
The acquisition is part of the long-term investment strategy of the MAM Private Equity Fund, which focuses on developing promising Czech and Slovak companies, and represents the fund's fourth investment to date. The fund holds a 36% stake in ME Logistics Holding.
The founders and managing partners of the Fund have 30 years of experience in project management and active asset management. Turbulent times offer opportunities that we, as a team, are able to evaluate and capitalize on thanks to our knowledge and experience.
Collaboration with the owners and existing management of the companies we acquire is an important component for us when structuring our entry into a company. We create a diversified portfolio of investments that will bring stable investment appreciation.
We invest in trading and manufacturing companies in the Czech, Slovak, and Central European markets with the aim of strengthening their competitiveness. We target companies that have an established market position and potential for further development.
We build on the values and employees of the companies we acquire and wish to continue developing. One of our main pillars when deciding on an investment is its long-term nature and sustainability, as well as further strategic development and the employees of the given companies.
We aim to complete 2 investments per year. Within two years, we want to reach a net asset value (NAV) of at least CZK 1 billion. This will ensure an optimal cost structure and capacity to manage our portfolio of companies.
We have invested more than CZK 100 million in the Sub-fund. We manage our own funds alongside yours, meaning we are directly invested in the outcome.
We have many years of experience in managing our own investments and in the world of corporate finance. We are a partner to our portfolio companies and actively help them in their further growth.
We create a diversified portfolio that will bring stability to the appreciation of our joint investments. We support the development of our portfolio companies and the utilization of potential synergies.
We work with the best in the market, who oversee our investment plans and our financial management. As a fund for qualified investors, we comply with all legislative requirements and are supervised by the Czech National Bank.
5% tax on the Sub-fund's profits; 0% tax for individual shareholders on redemption after holding investment shares for 3 years.
We are a team of top experts with 30 years of experience in Private Equity, corporate management, consulting, and asset management.
Our goal is to achieve long-term and attractive appreciation of invested capital through investments in medium-sized profitable companies.
- We are led by our founders, who have invested CZK 100 million in the Fund.
- We believe in our high-quality investment process and are confident in the overall success of the Fund.
- We have successfully completed dozens of transactions worth several billion Czech crowns.
- Throughout our entrepreneurial history, we have gained extensive experience across various fields and industries, ranging from automation, energy, the chemical industry, mechanical engineering, metal processing, and banking, to development, debt management, consulting, M&A advisory, and business development.
- We view the constantly changing market environment as an opportunity.
Thanks to our professional know-how and deep knowledge of companies and industries, we manage both our own capital and the funds you entrust to us with professional care, aiming for attractive returns.
Fund Administrator:
QI investiční společnost a.s.
(Conseq Group)
Fund Depository:
UniCredit Bank Czech Republic and Slovakia, a.s.
Fund Manager:
WOOPE investiční společnost a.s.
Investment Advisor:
MA Management, a.s.
Fund Auditor:
PKF APOGEO Audit, s.r.o
Fund Valuation:
Ernst & Young, s.r.o.
MAM Private Equity Fund SICAV a.s. is a fund for qualified investors pursuant to Act No. 240/2013 Coll., on Investment Companies and Investment Funds; only a qualified investor pursuant to Section 272 of this Act may become a shareholder.
The fund advises investors that the value of an investment in the fund may fluctuate and the return of the originally invested amount is not guaranteed. Past performance of the fund does not guarantee the same or higher performance in the future. Investment in the fund is intended to generate returns over a medium- to long-term holding period and is therefore not suitable for short-term speculation. Potential investors should, in particular, consider the specific risks that may arise from the fund's investment objectives as set out in its statute. Investment objectives are reflected in the recommended investment horizon, as well as in the fund's fees and costs.