Category: Deals and Cases

RTPR and Allen & Overy have advised Innova Capital on the acquisition of a majority stake in EMI Equipement Maintenance Industrie from Morphosis Capital, Belemi, and founder Jerome France.

Innova Capital and Morphosis Capital are private equity funds.

According to RTPR, “market leader in industrial access systems EMI provides integrated consulting, design, manufacturing, installation, maintenance, and service solutions for industrial access solutions across various sectors. EMI operates assembly facilities in Romania and Slovakia and service and maintenance capabilities in Romania and Belgium.”

“I am incredibly proud of the development of EMI and the milestones we have achieved thus far,” said EMI CEO and Founder Jerome France. “Today, EMI stands as a truly European player, with international shareholding uniting four nationalities, with facilities in three countries and a strong presence across Europe. The capital injection from Innova Capital marks an exciting new chapter for us, as we embark on a more ambitious growth trajectory through mergers and acquisitions. As part of this expansion, we are dedicated to involving the founders of the companies we acquire, integrating their expertise and experience into our operations.”

Earlier in 2023, RTPR advised Innova Capital on its investment in Netopia (as reported by CEE Legal Matters on May 30, 2023), while, back in 2021, RTPR had also advised on the initial sale of a 51% stake in EMI to Morphosis Capital Fund I (as reported by CEE Legal Matters on October 12, 2021).

The RTPR team included Partners Alina Stavaru and Roxana Ionescu, Managing Associates Cezara Urzica, Codrina Simionescu, and Andrei Tosa, Senior Associate Ana Maria Barbu, Associate Serban Halmagean, and Junior Associates Filip Marinau, Flavia Mincu, Maria Luca and Irina Marinescu.

The Allen & Overy team included Warsaw Managing Partner Jaroslaw Iwanicki, Counsel Maciej Skoczynski, and Senior Associate Antoni Roszkowski.

The firms did not respond to our inquiry on the matter.

Esquires has helped Platipus Trading and Platipus SRL obtain a gaming supply license from the Malta Gaming Authority and the Romanian National Gambling Office.

Platipus is a game development studio. According to Esquires, “since its inception in 2014, Platipus has built a platform providing high-quality, pioneering HTML5 slots and table games in extremely competitive markets.”

The Esquires team included Partner Bogdan Prysyazhnyuk and Senior Associate Mykyta Veresotsky.

E+H and Wardynski & Partners have advised Coveris on its acquisition of Polish packaging film company D.K. Lamin. SSW Pragmatic Solutions advised the sellers.

Coveris is a packaging company. D.K. Lamin is a manufacturer of flexible packaging laminated films and converted products.

According to E+H, “acquiring D.K. Lamin is a further, critical step in Coveris’ expansion in the CEE region. The transaction will enable Coveris to strengthen its market presence in Poland […] and to expand its production capacities. D.K. Lamin’s focus on food, pet food, household and personal care products, and medical packaging perfectly complements Coveris’ existing portfolio and supports its growth strategy in pet food in particular.”

Back in 2020, E+H also advised Coveris on its acquisition of Plasztik-Tranzit (as reported by CEE Legal Matters on March 11, 2020).

The E+H team included Partners Clemens Lanschuetzer and Judith Feldner and Associates Alexander Moser and Wolfgang Koefer.

The Wardynski & Partners team included Partners Jakub Lerner, Lena Marcinoska-Boulange, Joanna Prokurat, and Marcin Wujczyk, and Attorneys at Law Piotr Zabkiewicz, Waldemar Orynski, Marcin Rzysko, Karolina Romanowska, and Adrianna Ogonowska.

The SSW Pragmatic Solutions team included Partner Mateusz Rogozinski, Associate Aleksander Nicalek, and Legal Intern Maciej Gajda.

Cobalt has advised AS Toode majority shareholder Amber Trust II SCA on the sale of its shares to Kingspan Group company Joris Ide NV.

According to Cobalt, Toode is a production company producing, selling, and installing steel roofs, rainwater systems, and roof accessories in Estonia, Latvia, Lithuania, and the wider European market. Last year’s turnover was EUR 65 million, and the operating profit was close to EUR 7.4 million. The company’s production facilities are located in Saue, Tartu, and Narva, with a subsidiary in Finland. Last year, the average number of employees of AS  Toode was 195.

The Kingspan Group is a global construction solutions provider. Its shares are listed on the Euronext Dublin stock exchange. Last year, the group earned EUR 784 million in operating profit with sales revenue of EUR 8.4 billion.

The Cobalt team included Estonia-based Partner Martin Simovart and Managing Associate Jesse Kivisaari, Latvia-based Partner Guntars Zile and Senior Associate Martins Tarlaps, and Lithuania-based Managing Partner Irmantas Norkus and Managing Associate Deimante Pagiriene.

Cobalt was unable to disclose further information on the deal.

Paksoy, working with Gowling WLG, has advised UK-listed Volex on its acquisition of Turkish complex wire harness manufacturer Murat Ticaret Kablo for a total consideration of up to approximately EUR 178.1 million. Kinstellar and its Turkish affiliate Gen Temizer Ozer advised the Gora family on the sale of 100% of their shares in Murat Ticaret.

Volex Plc is, according to Paksoy, “a global supplier of critical power and data transmission products,” producing power cords and electric vehicle charging cables, among others. 

Established in 1969, “Murat Ticaret Kablo Sanayi A.S. is a leading Turkish manufacturer of cable harnesses and high-voltage battery cables for the agricultural, commercial, and industrial vehicle markets,” Gen Temizer Ozer reported. 

According to Gen Temizer Ozer, the transaction involved “a total consideration of up to approximately EUR 178.1 million, together with a placing and retail offer to raise gross proceeds of approximately GBP 60 million in aggregate. As part of the consideration, the Gora family will be entitled to receive ordinary shares of Volex.”

The Paksoy team included Partners Elvan Aziz, Serdar Ildirar, and Togan Turan, Senior Associate Tugcan Akalin, and Associate Gamze Boran.

The Gen Temizer Ozer team included Partners Baran Gen and Edmund Emre Ozer, Managing Associate Dila Topuz, and Associates Sila Ozge Sayli and Osman Tugberk Cakirca.

Editor’s Note: After this article was published, Karanovic & Partners announced it had worked in cooperation with local lawyers to advise Volex on the North Macedonian law aspects of the transaction. The acquisition “is in line with Volex’s strategy of organic growth and represents a significant step in achieving its five-year plan. This includes broadening its product offering and customer base, as well as expanding its manufacturing footprint,” the firm reported. 

The Karanovic & Partners in cooperation with local lawyers team was led by Partner Veton Qoku and Senior Associate Bojana Paneva and included Associates Martina Andelkovic Apostoloska and Vlatko Tokarev and Legal Assistant Sanja Lambershek.

Hogan Lovells and its Hungarian affiliate Partos & Noblet have advised Nissan on the sale of its Polish business – Nissan Sales Central & Eastern Europe Korlatolt Felelossegu Tarsasag – to Astara Mobility subsidiary Astara NIP Poland. Domanski Zakrzewski Palinka, working with Cuatrecasas, advised Astara.

The target business involves the sale and distribution of car and car parts for Nissan cars in Poland and related services. According to DZP, “the separation of the organization and the transfer of part of the business to Astara is the result of the implementation of Nissan Next’s medium-term plan to allow the brand to increase profitability in Poland and better meet the needs of customers and business partners. The acquisition means that […] Astara will become Nissan’s official distributor in Poland.”

The Astara Group operates in 19 countries and offers a range of personal mobility and automotive solutions, with broad experience in automotive distribution in Europe.

Back in 2022, Nissan also sold its Austrian dealer and sales network to Spanish mobility provider Astara Mobility (as reported by CEE Legal Matters on January 11, 2022).

The Hogan Lovells team was led by Counsel Tomasz Zak and Senior Associate Piotr Kwasiborski and included Counsel Piotr Skurzynski, Senior Associates Agnieszka Szczodra-Hajduk and Bartlomiej Wyjatek, and Associate Leonart Szanajca-Kossakowski.

The Partos & Noblet team included Partner Laszlo Partos, Senior Associates Andras Multas and Zoltan Molnar, and Associate Barbara Boross.

The DZP team included Partner Joanna Wierzejska, Counsel Maciej Ciszkiewicz, Senior Tax Manager Tomasz Leszczewski, Senior Associate Paulina Janas, and Associate Grzegorz Policht.

Dentons has advised Farmak on a series of acquisitions from a portfolio company of private equity house Novator. 

According to Dentons, “Farmak acquired pharmaceutical marketing companies in the Czech Republic and Slovakia, together with the relevant IP rights and trademarks, and in a separate transaction, a Ukrainian business owning a product portfolio, selected assets, and IP rights and trademarks.”

Farmak is a Ukrainian pharmaceutical company with a 6% market share. According to Dentons, “through this transaction, Farmak will increase its presence in the European Union while strengthening its position in the cardiology and cough and cold segments.”

The Dentons team included Prague-based Partner Petr Zakoucky, Counsel Lukas Vymola, and Associates Petr Mueller, Adam Prerovsky, Stepanka Havlikova, Blanka Crhakova, Jan Tyls, Tomas Jonas, and Michael Mracek, Bratislava-based Partner Juraj Gyarfas and Associates Jan Dulovic, Alen Gondek, Gabriel Kulik, Michal Distler, and Tatiana Jevcakova, Kyiv-based Partners Adam Mycyk and Maksym Sysoiev, Counsels Anna Tkachenko, Oksana Horban, and Evgenia Prudko, and Associates Volodymyr Omelchenko, Victor Marchan, and Roman Mehedynyuk, and Budapest-based Partner Rob Irving.

Editor’s Note: After this article was published, CEE Legal Matters learned that Asters advised Farmak as well. The firm’s team included Partners Vadym Samoilenko and Julia Semeniy, Counsel Oles Kvyat, and Senior Associates Bohdana Marchuk and Olena Kozhokar.

Subsequently, we learned that Prague’s Siroky Zrzavecky advised Novator and Xantis Pharma on the deal. The firm’s team included Partner Jan Zrzavecky and Attorney at Law Pavel Vejmola.

B2RLaw has advised UK-based construction equipment supplier CMT Group on the supply contract and the separate donation contract with the Polish Government Agency for Strategic Reserves for humanitarian aid to Ukraine in the form of power generators. The EUR 27 million contract was financed under the EU’s Civil Protection Mechanism.

The CMT Group was founded in 2010 and offers a comprehensive range of construction equipment. It also operates globally with over ten locations worldwide and supplies a variety of industries.

The European Commission’s Humanitarian Aid and Civil Protection Department provides relief in all major crisis zones around the world including Syria, South Sudan, Yemen, and Ukraine.

“As part of the EU Civil Protection & Humanitarian Aid grant and in cooperation with the Polish Government Agency for Strategic Reserves, we are proud to support Ukraine with energy assistance, including free-of-charge donations,” the CMT Group announced. “Power generators are a vital resource in the current conflict, with many Ukrainians struggling without electricity, running water, and heat. Power generators are also essential to save lives in hospitals.”

The B2RLaw team was led by Partner Roman Iwanski and included Partner Bogdan Duda, Counels Filip Badziak and Piotr Leonarski, Senior Associate Paulina Milewska, and Junior Associate Boguslaw Dlugowolski.

Bagzibagli Erdem & Sahin has advised Octovan Mobil Teknoloji on its financing round with Vinci Venture Capital, Arz Portfoy, and several private investors. Kilinc Law & Consulting advised Arz Portfoy on its convertible loan and capital increase investment. 

“Within the framework of the final investment tour which has been held on March 31, 2023, a total of 22 domestic, foreign, individual, and corporate shareholders have been integrated into the company,” Kilinc Law reported. The total value of the round was USD 8 million.

Founded in March 2017, Octovan is an online platform that connects movers and customers to provide fixed-price home and partial moving services, among others. 

According to Kilinc Law, “on the B2C side, Octovan offers safe transportation services, a digitalized transportation experience, and highly rated carriers with goods, office moving, and home moving services. On the B2B side, Octovan Express is a same-day delivery-oriented logistics transportation service that provides transportation support for products over 30 decimeters.”

The Bagzibagli Erdem & Sahin team was led by Partner Orhan Erdem and included Attorney Ilayda Goktas.

The Kilinc Law team was led by Senior Associate Gulenay Capkinoglu.

Editor’s Note: After this article was published, Turunc confirmed it had advised Vinci on its follow-on investment in Octovan. The firm had also advised Vinci on its initial investment into the target four years ago (as reported by CEE Legal Matters on April 30, 2019). The Turunc team included Managing Partner Kerem Turunc, Partner Yasemin Erden, and Associates Naz Esen, Ovgu Kopal, and Baran Ezeli.

Dentons has advised the shareholders of the Meopta Group on the sale of the company to Carlyle. White & Case and, reportedly, Linklaters and Latham & Watkins advised Carlyle.

Financial details were not disclosed.

The Meopta Group is a manufacturer of optical, opto-mechanical, and opto-electronic solutions. Carlyle is an investment firm.

According to Dentons, “with the acquisition of Meopta, Carlyle will seek to support the company’s growth in partnership with its management team by diversifying its mix of end markets and customers, capturing the opportunity in more advanced built-to-spec use cases through an increased focus on R&D, capitalizing on attractive opportunities in a diverse range of end markets and expanding its international presence through the creation of a direct sales network, and improving its operations.”

The Dentons team included Budapest-based Partner Rob Irving, Counsel Kamran Pirani, Senior Associate Ekaterina Dorkhova, and Associates Sebastian Ishiguro and Aliz Wulcz; Prague-based Managing Partner Petr Zakoucky, Partners Evan Lazar, Zdenek Kucera, and Petr Kotab, Counsel Lukas Vymola, Senior Associate Adam Prerovsky, and Associates Petr Mueller, Tomas Pavelka, Michal Vik, Katerina Kucerova, Matej Pavlik, Tomas Jonas, and Jan Sedlak; and additional lawyers from the firm’s London, New York, Short Hills, and Frankfurt offices.

The White & Case team included Prague-based Partner Jonathan Weinberg, Local Partner Jan Jakoubek, Counsel Jan Parik, and Associates Lukas Pavlik, Monika Sedlackova, Katerina Hudeckova, Vinh Ngo The, Milan Horak, Tadeas Matys, and Magdalena Lajdova, as well as further team members in London.