2022 was undoubtedly a year of challenges for BORCAD. After 32 years since the establishment of the company, its founder and owner Ivan Boruta decided to sell it. The new owners are private equity funds Genesis Capital and Integral Venture Partners from the Czech Republic and Hungary. “The decision to look for new partners for Borcad matured in me already in 2021, and I am very happy that I finally chose these from several interested parties. In them, I found capital-strong partners who believe in Borcad’s vision, can support and develop it, and thus ensure a stable environment for the company’s growth in these difficult times,” says Ivan Boruta.
Over the past two years, BORCAD has doubled its turnover and stabilized production at 45,000 seats per year. Ivan Boruta remains in the company as an advisor and member of the supervisory board, the new CEO is Helena Radkovská, the current manager of the company’s sales and purchasing department, as of 1 November 2022. “I started at BORCAD five years ago in the sales department and now I got the opportunity to manage this great company from the position of CEO. I admit that I feel both joy and great respect. I am very lucky to be able to do work that I enjoy, to be able to work with people that I respect very much. I’ve said it several times, and I’ll say it again: the railway will grab you… and won’t let you go,” comments Helena on her new role in the company.
The management team remains unchanged and BORCAD is now working with great enthusiasm on new projects and requests. On the other hand, we are currently struggling with an extreme increase in energy, which is starting to manifest itself very significantly mainly in the prices of subcontracts, which fundamentally affects the economics of already running projects (this has already been written about several times in ACRI news). Due to the current situation in Ukraine, we immediately “stopped” all deliveries ending in the Russian market, which for the company means the long-term loss of one of our export markets. The Russian branch is no longer owned by the company, so BORCAD is looking for and will look for new markets for its products.