Czechoslovak Group a.s., the ammunition and defense industry manufacturer that acquired Vista Outdoors’ Kinetics Group in 2024, has completed an initial public offering (IPO) and the admission to trading of shares of CSG N.V. on the regulated market of Euronext Amsterdam as of January 23, 2026.

The offering reportedly raised total gross proceeds of €3.80 billion, representing 15.2 percent of issued share capital post-settlement. This comprised a primary offering of newly issued shares raising €750 million and a secondary offering of existing shares totaling €2.55 billion by CSG FIN a.s.

As a result, CSG N.V., a public limited liability company incorporated in the Netherlands and headquartered in Amsterdam, became the listed parent entity of the CSG Group.

Following the IPO, the company said that CSG N.V. adopted a one-tier board structure governed by Dutch law. In this structure, both executive and supervisory responsibilities are combined within a single Board of Directors, which is composed of two parts: Executive Directors manage the Group’s daily operations, while independent Non-Executive Directors supervise and monitor strategy, leadership performance, risk management, and long-term value creation.

The executive leadership of CSG is comprised of:

  • Michal Strnad, Chairman and CEO
  • David Chour, Chief Operating Officer
  • Ladislav Štorek, General Counsel
  • Petr Formánek, Director of Acquisitions
  • Zdeněk Jurák, CFO

In connection with the listing, the company’s board appointed four independent non-executive directors, including:

  • General (Ret.) John Nicholson, Senior Independent Director
  • Lynn Fordham
  • Susanne Wiegand
  • Virginie Banet

Since the IPO, Moody’s upgraded CSG’s backed senior secured debt in February 2026 from Ba1 to Baa3, citing improved governance, a simplified capital structure, and a more conservative financial strategy. Additionally, Fitch Ratings affirmed CSG at BBB- with a Stable Outlook.

Image courtesy CSG N.V.