Category: Deals and Cases

Eversheds Sutherland has advised the shareholders of SWS on the full sale of the company – including subsidiaries Entec Solutions and SWS International in Slovakia – to Also Holding.

The transaction remains contingent on regulatory approval.

SWS is a Czech ICT distributor.

Also Holding is a Swiss technology company operating in 30 countries in Europe. It provides IT services on a transactional basis as well as on an as-a-service basis. It also offers digital platform services such as IoT, artificial intelligence, virtualization, and cybersecurity.

“We are looking forward to a period full of challenges and new opportunities that will open up by joining one of the world’s leading IT providers,” SWS Managing Director Martina Vlckova commented. “Thanks to this step, we can better compete in a competitive environment, gain a stronger market position, access to new technologies, and expand our reach.”

The Eversheds Sutherland team included Managing Partner Borivoj Libal and Associate Marek Poloni.

Eversheds Sutherland could not disclose further information on the matter.

Editor’s Note: After this article was published, Noerr announced that it advised Also Holding on its acquisition of SWS. The firm’s team included Partner Barbara Kusak, Counsel Michal Janicek, Senior Associate Lucia Luptakova, and Attorney at Law Tereza Mare.

Wolf Theiss and Cobalt have advised Accession Capital Partners Credit on a EUR 10 million credit facility granted to Mogo IFN.

ACP Credit is a group of investment funds based in Luxembourg.

Mogo IFN is a subsidiary of the Eleving Group, a Latvian-based non-bank lender. In Romania, Mogo offers car purchase financing plans with effective annual interest rates starting at 55%.

According to Wolf Theiss, the credit facility will serve to finance Eleving Group’s expansion in Romania. “The transaction also involved coordination with the Eleving Group’s Latvian-based office with regard to the guarantees offered by the group Mogo IFN is a part of.”

The Wolf Theiss team included Partner Claudia Chiper, Senior Associate Smaranda Vacaru, and Associate Ana Florea.

The Cobalt team included Specialist Counsel Andrejs Lielkalns and Senior Associate Inga Tenisa.

Wolf Theiss and Balicki Czekanski Gryglewski Lewczuk have advised MidEuropa Partners and Accel-KKR portfolio company Symfonia on its acquisition of Softeh Plus. PwC Legal Romanian affiliate D&B David and Baias advised the shareholders of the Romanian software company.

The transaction closed on December 31, 2023.

According to Wolf Theiss, Softeh Plus is a company specializing in ERP software solutions for healthcare businesses, as well as the major technology enabler for many Romanian private medical services providers and the largest pharmacy networks.

Symfonia is a provider of ERP software to accounting offices and small and medium-sized enterprises in Poland, including financial management, payroll, HCM solutions, as well dedicated industry solutions. Backed by MidEuropa Partners and Accel-KKR, it plans to become a regional leader.

According to BCGL, “the acquisition of Softeh marks the first international and sixth in total acquisition carried out by Symfonia in the last few years. Through this acquisition, Symfonia has entered the Romanian market which is the second largest in this part of Europe, right after Poland, and is rapidly digitalizing. This transaction is yet another milestone in Symfonia’s development towards becoming a leading ERP software provider for SMEs in the CEE region.”

The Wolf Theiss team was led by Partner Ileana Glodeanu and Counsel Mihai Coada and included Partner Anca Jurcovan, Counsels Flavius Florea and Dana Toma, Senior Associate Andreea Tudorache, and Associates Nina Lazar, Ioana Iacob, Madalina Paladi, Vlad Catana, and Maria Popescu.

The BCGL team was led by Partner Jacek Balicki.

The D&B David and Baias team included Partner Anda Rojanschi and Senior Lawyer Mihaela Papandreia.

Crido has advised Duna Aszfalt on its acquisition of Mota Engil Central Europe. DLA Piper advised the sellers. Cerha Hempel reportedly advised Duna Aszfalt as well.

Duna Aszfalt and Mota Engil Central Europe are road construction companies.

According to Crido, the transaction stands to be finalized in the second quarter of 2024, “after obtaining the relevant approvals of local authorities and financial institutions. The transaction will also include Mota-Engil Real Estate, an entity operating in the property development segment. The acquired company will continue to perform existing contracts, such as production at the Gorka Sobocka mine, and will be actively securing further contracts, developing the Bitumen Mixing Plant and the machine park, and implementing investment and modernization plans.”

The Crido team included Partners Przemyslaw Furmaga, Jakub Ziolek, and Edyta Defanska-Czujko, Senior Associates Andrzej Dunikowski, Tomasz Artaszewicz-Zawisza, and Karolina Kalinowska, Associates Michal Tokarz, Filip Sobocinski, Magdalena Augustyniak, Adrian Lakowski, and Kacper Krolikowski, and Junior Associates Iga Klukowska, Julia Dziubinska, Katarzyna Przysucha, and Ewa Malinowska.

The DLA Piper team included Partners Jakub Marcinkowski and Katarzyna Waclawek, Counsels Izabela Gebal and Michal Orzechowski, Senior Associates Rafal Dostatni, Agnieszka Staszek, and Wojciech Sulimierski, Associates Arkadiusz Karwala and Alicja Ciebiera, Junior Associates Weronika Kulpa and Aleksander Stanek, and Legal Intern Aleksandra Wojcik.

Kinstellar, working with Linklaters’ Madrid office, has advised a consortium of lenders on their EUR 800 million financing for AmRest. Uria Menendez reportedly advised AmRest.

AmRest is a fast-food operator. The company operates restaurants under franchise brands such as KFC, Starbucks, Pizza Hut, and Burger King, as well as under private labels such as La Tagliatella, Sushi Shop, Bacoa, and Blue Frog.

The banking consortium included agent Banco Santander and lenders Bank Polska Kasa Opieki, Powszechna Kasa Oszczednosci Bank Polski, Ceska Sporitelna, ING Bank Slaski, Banco Bilbao Vizcaya Argentaria, Banco Santander, Banco Santander Poland, BNP Paribas Poland, and Rabobank.

The Kinstellar team included Bucharest-based Special Counsel Magdalena Raducanu, Managing Associate Razvan Constantinescu, and Associates Adelina Seserman and Cosmin Mitrica; Prague-based Counsel Martina Brezinova and Junior Associate Dominik Ctvrtnicek; and Budapest-based Partner Levente Hegedus and Junior Associates Veronika Heiszer and Kinga Farkas.

Cobalt has advised Warmeston on its EUR 32 million acquisition of the Broceni cogeneration plant and pellet factory in Latvia from Enefit Green. TGS Baltic advised Enefit Green.

Warmeston is an Estonian wood pellet producer.

According to Cobalt, as part of the EUR 32 million transaction, Warmeston will acquire a biomass cogeneration plant and a production facility that produces approximately 155 tons of wood pellets per year. “These two plants employ 39 people. The electricity produced is sold in the Latvian market, and the heat is used for the pellet plant. The wood pellets are sold to energy companies, wholesalers, and other consumers.”

The Cobalt team included Estonia-based Partners Aivar Taro and Marina Kotkas, Specialist Counsels Madis Reppo and Mart Blondal, and Senior Associate Christine Magi as well as Latvia-based Partners Gatis Flinters and Sandija Novicka and Senior Associates Diana Zepa and Martins Tarlaps.

The TGS Baltic team included Partners Kadri Kallas, Triin Kaurov, Andra Rubene, and Agnese Hartpenga, Associate Partner Triinu Jarviste, Senior Associates Mirko Kikkamagi, Vitali Sipilov, Mari Anne Rohtla, Anna Vaivade, Mara Stabulniece, and Dita Busa, and Associates Elina Lesnicenoka, Evija Abele, and Toms Tidemanis.

Wolf Theiss has advised the shareholders of Romania’s DRIM Daniel FMCG on the sale of their majority stake in the company to Polish retail company Zabka, part of CVC Capital Partners. DLA Piper advised buyer Zabka Polska.

The transaction remains contingent on regulatory approval.

DRIM Daniel FMCG is a Romanian distribution sector family business established in 1994. It employs over 500 people and uses a fleet of approximately 380 cars and trucks to supply goods to 10,000 stores every month via 24-hour delivery.

Zabka is a retailer operating small to medium-sized convenience stores in Poland.

The Wolf Theiss team included Partner Ileana Glodeanu and Senior Associate Andreea Carare.

The DLA Piper team included Warsaw-based Partner Jakub Marcinkowski and Senior Associate Michal Sowinski and Bucharest-based Partners Oana Dutu-Buzura and Alina Lacatus, Counsel Razvan Pele, and Managing Associate Denisa Achim-Postea.

Schoenherr has advised Ceres Pharma on the acquisition of the Hungarian pharmaceutical companies VitaPlus and Innopharm, including their Innopharm Austrian subsidiary.

Ceres Pharma is a Belgium-based pharmaceutical company founded in 2017 by Mario Debel and Alychlo and acquired in 2021 by Naxicap Partners. It is active in the development and distribution of drugs, medical devices, biocides, cosmetics, food supplements, and pharmaceutical preparations in Benelux, Italy, and Central and Eastern Europe.

VitaPlus is a Hungarian pharmaceutical company active in the development and distribution of food supplements and medical devices in Hungary and beyond.

The Schoenherr team included Hungary-based Partner Kinga Hetenyi, Attorneys at Law Adrian Menczelesz, Aron Hegyi, and Mark Kovacs, and Associates Akos Kovacs, Zsofia Rideg, and Noemi Csiki and Austria-based Counsel Teresa Waidmann, Attorneys at Law Alfred Amann and Alexander Pabst, and Associate Verena Krikler.

Squire Patton Boggs and 42Law have advised Inven Capital on co-leading the EUR 8.5 million series A investment round of Hydrogrid, alongside Karma Ventures. Cobalt advised Karma Ventures. Herbst Kinsky advised Hydrogrid.

Inven Capital is a EUR 500 million venture capital fund focused on later-stage climate tech investments in Europe, backed by the CEZ Group and the European Investment Bank.

Hydrogrid is an Austrian developer of software for the hydropower industry. 

According to Squire, “the funding round, co-led with Karma Ventures and with contributions from existing investors CNB Capital and SET Ventures, will enable Hydrogrid to continue its rapid growth and expand into new markets, supporting the transition towards a zero-carbon future.”

The Squire Patton Boggs team included Prague-based Partner Radek Janecek, Senior Associate Marek Hrubes, and Associate Jakub Nemecek. 

The 42Law team included Partner Christof Strasser and Associates Bernhard Lichtneger and Florentina Klaffenbock.

The Cobalt team included Partner Kristel Raidla-Talur, Specialist Counsel Greete Kristiine-Kuru, Senior Associate Marten Amjarv, and Assistant Lawyer Paul Schifrin.

The Herbst Kinsky team included Partner Philipp Kinsky, Attorney at Law Angelika Kurz, and Associate Barbara Ring.

White & Case has advised SigmaRoc on the acquisition of CRH’s European lime businesses for a total deal value of approximately EUR 1 billion. SSW Pragmatic Solutions reportedly advised the lenders.

According to White & Case, “SigmaRoc has entered into three separate transactions, with the first being the acquisition of CRH’s German, Czech, and Irish lime businesses. SigmaRoc has also entered into separate call options to acquire CRH’s UK and Polish lime operations, subject to each of those businesses being carved out of the CRH Group.”

SigmaRoc is a London Stock Exchange AIM-listed specialist quarried materials group with a market cap of approximately GBP 350 million. The transaction will constitute a reverse takeover for SigmaRoc and is accordingly subject to shareholder approval.

CRH is an international group of diversified building materials businesses listed on the New York Stock Exchange with a market cap of approximately GBP 35 billion.

The White & Case team included Warsaw-based Partner Marek Sawicki, Local Partner Jakub Gubanski, and Associates Malgorzata Herda, Damian Lubocki, and Iwo Malobecki; Prague-based Partner Jonathan Weinberg and Associates Iva Cechrakova, Kamila Dankova, Radek Kraus, Monika Sedlackova, and Lucie Zanaskova; and further team members in London and Frankfurt.