Genesis Capital, a private equity firm, and Avallon, an investment company, completed the acquisition of TES Vsetin, a Czech electro-mechanical engineering company, from ARX Equity Partners, a Central Europe-focused private equity firm. Financial terms were not disclosed. Headquartered in Vsetin, Czech Republic, TES is involved primarily in the manufacturing of system components related to electrical machines in addition to the design and manufacturing of its own proprietary electric machines, such as generators and electric motors. TES supplies components and machines to several blue-chip customers across multiple industries.