Category: Deals and Cases

Cerha Hempel has advised Pierer Mobility on the establishment of an e-bike production joint venture with Maxcom. Reportedly, Noerr advised Pierer as well and Lukanov & Gencheva advised Maxcom on the deal.

According to Cerha Hempel, “the establishment of the joint venture in Bulgaria represents an important step forward for the expansion of the Pierer group’s bicycle and e-bike production capacity in Europe. The total investment amounts to approximately EUR 40 million. A state-of-the-art facility for the production of e-bikes will be constructed on a 130,000 square-meter site where (electric) bicycles will be manufactured exclusively for the Pierer group under the Husqvarna e-Bicycles, R Raymon, and Gasgas e-Bicycles brands.”

Cerha Hempel’s teams in Vienna and Sofia included Partners Bernhard Kofler-Senoner, Boyko Gerginov, and Anna Wolf-Posch, Counsel Michael Mayer, Senior Associates Kalin Bonev and Nadine Leitner, and Associates Polina Westerhoven, Zakar Stepanyan, Agnes Lackenberger, and Philipp Schaubach.

Editor’s Note: This article originally misstated that Roman Hilzensauer and Verena Schneglberger-Grossman were part of Cerha Hempel’s team. They are in fact in-house counsel with Pierer Mobility / KTM AG. The article has been amended to reflect this and we apologize for the error.

After this article was published, Noerr confirmed it had advised Pierer Mobility. The firm’s team included Partner Radoslaw Biedecki and Associate Jerzy Kapitanczuk.

Moskwa Jarmul Haladyj has advised the GI Group on the sale of its quota in Hungarian subsidiary ProHuman, the repayment of the banking consortium – BNP Paribas, PKO BP, Millennium, and Santander – and the completion of the court restructuring arrangement. Wardynski advised the banks on the deal.

According to MJH, “the purchase price for the ProHuman quota amounts to PLN 147.5 million. Additionally, the purchaser, Sun Group, is obliged to take over all GI Group Poland’s liabilities towards ProHuman. The transaction is expected to be closed by April 30, 2022. However, the GI Poland Group’s court restructuring arrangement has already been settled. Thus, the formal financial restructuring of GI Group Poland (former Work Service) has come to an end.”

MJH’s team included Partner Krzysztof Haladyj, Senior Counsels Pawel Cyganik and Iwo Klijewicz, Senior Associate Justyna Wigier, Associate Monika Knothe, and Junior Associate Jan Ambrozy.

Wardynski’s team included Partner Lukasz Szegda, Senior Associates Mateusz Tusznio and Jakub Kokowski, and Junior Associate Filip Kurys.

Eversheds Sutherland has advised Hartenberg Capital on its minority stake divestiture and agreement with CVC Capital Partners for a co-controlling holding in FutureLife.

The transaction remains contingent on regulatory approval.

Established in 2013, Hartenberg Capital is a Prague-based investment company focusing on assets in the Central European region, primarily the Czech Republic, Slovakia, and Poland.

Prague-headquartered FutureLife is a pan-European provider of in vitro fertilization and related genetics services, with a presence across eight European markets including the Czech Republic, Ireland, Netherlands, Finland, the United Kingdom, Romania, Slovakia, and Estonia.

“FutureLife is an exciting story that traces its roots back to an idea in 2013 to build a European IVF leader,” Hartenberg Capital Managing Partner Jozef Janov commented. “FutureLife has since completed 22 acquisitions in eight countries including the recent acquisition of Nij Group in the Netherlands. At this stage in the development of the company and market, we believe it is the right time to take a new partner on board for FutureLife that can work alongside us. We consider CVC to be the right partner with whom we can accelerate towards our goal of becoming the largest and highest quality women’s health platform globally.”

The Eversheds Sutherland team was led by Czech-based Counsel Michal Hrabovsky and Ireland-based Partner Gavin O’Flaherty and included:

In the Czech Republic, Counsels Marek Bomba and Petra Kratochvilova, Senior Associates Michal Ruzicka and Ondrej Benes, Associates Ondrej Sudoma, Paulina Machacova, Katarina Jendzelovska, and Jiri Brabec, Junior Associates Maros Kandrik, Martina Vodickova, Karolina Rechtorovicova, Barbora Bugova, and Jan Kohl;

In Romania, Managing Partner Cristian Lina, Partner Carolina Baloleanu, Senior Associate Irina Stoicescu, and Lawyer Iulia Maria Moldovan;

In Estonia, Managing Partner Maivi Ots, Senior Associate Kadri Kasepalu, Lawyers Siim Olev and Kristi Joemets, and Associate Marja-Stina Saaliste;

In Slovakia, Managing Partner Bernhard Hager, Counsel Jana Sapakova, Senior Associates Petra Markova, Katarina Brath Liebscherova, and Maria Sadlonova, and Associates Dasa Derevjanikova and Filip Kozon;

In the UK, Partner Steven Hacking, Principal Associates Vanessa Challenger and Philip Crosbie, Senior Associate Rachel Lester, and Associates Meghan Bryson, Harry Taylor, and Aimee Southall;

In Finland, Partner Hannu Rintala, Associates Petra Nieminen and Else Leppanen, Junior Associate Matti Jonkka, and Trainee Fanny Pajuniemi;

And, in Ireland, Corporate Associates Sophie Dudley and Conor Bell, Senior Associate Michelle Stewart, Associates Michael Twomey and David McKeating, and Solicitor Sophie Delaney.

Eversheds Sutherland did not respond to our inquiry on the matter.

Editor’s Note: After this article was published, Bondoc si Asociatii announced that it had advised CVC Capital Partners VIII on Romanian law-related aspects of the acquisition. The firm’s team was led by Partners Lucian Bondoc and Bogdan Bunrau and included Partners Mihaela Bondoc, Viorel Dinu, Monica Iancu, Simona Petrisor, and Raluca Voinescu.

White & Case also announced that it has advised CVC Capital Partners on the deal. The firm’s team was led by Prague-based Partner Jan Andrusko and Abu Dhabi & London-based Partner Steve Worthington and included Prague-based Local Partners Jan Stejskal and Jan Jakoubek and Associates Iva Cechrakova, Monika Sedlackova, and Lukas Pavlik, and London-based Associates Ben von Maur, Elena Ruggiu, Anna Rawlence, and James Charteris-Black.

TGS Baltic has advised business-to-business distributor of business essentials OptiGroup on its sale to the FSN Capital VI fund.

According to TGS Baltic, following the transaction, FSN Capital VI will, in addition to OptiGroup, acquire the Dutch company Hygas and will “create a European Group in the business-to-business distribution industry. FSN Capital VI will be the leading shareholder in the combined Group, and OptiGroup’s current shareholders, Altor Fund II, Triton II Fund, and RoosGruppen AB will remain as minority owners. The transaction is expected to be finalized in the first quarter of 2022.”

According to the firm, “OptiGroup and Hygas, which will have combined revenue of EUR 1.3 billion, complement each other both geographically and in terms of their attractive product offerings to B2B customers across Europe. The Group’s strategy will be to continue driving organic growth and acquisitions, while also driving sustainability in the industry. The combined Group will operate under the name of OptiGroup and have its headquarters in Molndal, Sweden. The Group CEO will be Soren Gaardboe, currently the CEO of OptiGroup.”

OptiGroup is a European distribution Group offering customized supply solutions to B2B customers. OptiGroup companies specialize in supplying customers primarily within cleaning & facility management, hotel & restaurant, healthcare, manufacturing industries, and the graphical sector.

Established in 1999, FSN Capital Partners is a Northern European private equity firm and investment advisor to the FSN Capital Funds, with EUR 4 billion under management.

The Hygas Group is a Benelux supplier of hygiene products, medical disposable, protective equipment and services, and packaging materials for a wide range of industries across 14 offices. 

TGS Baltic’s team included Estonia-based Partner Kadri Kallas and Junior Counsel Mirko Kikkamagi, Latvia-based Partner Andra Rubene, Associate Kaspars Treilibs, and Lawyer Toms Tidemanis, and Lithuania-based Partner Dalia Tamasauskaite-Ziliene and Associate Rimante Varapnicke.

TGS Baltic did not reply to our inquiry on the matter.

Dorda has advised the Netrisk Group on its acquisition of Durchblicker. Szecskay Attorneys at Law reportedly advised the Netrisk Group on Hungarian law-related matters.

Closing is expected in the first quarter of 2022, pending regulatory approval.

According to Dorda, “with the acquisition of Durchblicker, Austria’s independent and market-leading online rate comparison portal, Durchblicker becomes part of a fast-growing alliance of online price comparison platforms that already includes Netrisk.hu, Biztositas.hu, Klik.cz, Porovnej24.cz, Klik.sk, Netfinancie.sk, and Edrauda.lt.”

The Netrisk Group is a Budapest-headquartered online price comparison services provider in Europe, operating in Austria, the Czech Republic, Hungary, Lithuania, and Slovakia.

Durchblicker is Austria’s online portal providing tariff comparison services for insurance, electricity and gas, finance, and internet and mobile phones prices.

Durchblicker “offers comparison services for insurance, telecommunications, utilities, and financial products in a very user-friendly way,” Netrisk announced. “Durchblicker joins Netrisk Group’s growing family with the same purpose: to save money for customers and offer a comparison.”

The Dorda team was led by Partner Christian Ritschka and included Partners Heinrich Kuhnert, Bernhard Rieder, Andreas Zahradnik, and Tibor Varga, Attorneys Patricia Backhausen, Alexandra Ciarnau, Christian Richter-Scholler, and Gunther Posch, and Associates Mike Schaunig, Alona Klammer, Sarah Pichler, Valerie Fandl, Markus Buchleitner, Mirko Marjanovic, and Safiye Unuvar.

CMS has advised Slovakia’s Nafta International on the buyout of its joint venture partner Cub Energy to become the sole owner of the Ukrainian company holding a license for the exploration and production of hydrocarbons near Uzhhorod.

According to CMS, “the Uzhhorod license, covering 300 square kilometers, is a geological continuation of much-explored areas in eastern Slovakia and is on trend with discoveries in Slovakia.”

Nafta International is a Slovak oil and gas exploration, production, and storage company. In addition to Slovakia, the company is present in the Czech Republic, Germany, Great Britain, Austria, and Ukraine.

The CMS team was led by Partners Vitaliy Radchenko, Tetyana Dovgan, and Olga Belyakova and included Ukraine-based Senior Associates Louise Cakar, Mariana Saienko, and Mykola Heletiy, Lawyers Denys Hatseniuk and Oleksandr Sytnyk, Associates Ihor Pavliukov, Anatolii Doludenko, and Ivan Pshyk, and UK-based Senior Associates William Anderson and Rory Thomson.

CMS did not respond to our inquiry on the matter.

DLA Piper has advised Michelin on its acquisition of Cemat. Havel & Partners advised Cemat on the deal.

Cemat is a sales-focused company that offers accessories for handling equipment and construction machinery on the Czech and Slovak markets. 

According to DLA Piper, “with this acquisition, Michelin will strengthen its footprint and service operation in the Czech Republic and Slovakia, while Cemat will be joining a leader in mobility, strengthening its access to the market.”

DLA Piper’s team in the Czech Republic was led by Country Managing Partner Miroslav Dubovsky and included Associates Jan Rataj, Jan Metelka, and Valeria Kolarova; the firm’s team in Slovakia was led by Country Managing Partner Michaela Stessl and Senior Associate Eva Skottke.

The Havel & Partners team included Partners Jan Koval and Petr Dohnal and Senior Associate Ivo Skolil.

Norton Rose Fulbright, Krehic & Partners, and Magnusson have advised Inter Cars on the extension, increase, and reorganization of senior facilities in the aggregate amount of PLN 1.84 billion. Clifford Chance advised the financing consortium.

As part of the transaction, Santander Bank Polska was onboarded as a new consortium member. The other members include Bank Pekao, mBank, BNP Paribas Bank Polska, Caixa Bank, ING Bank Slaski, Bank Handlowy w Warszawie, and DNB Bank Polska.

Inter Cars is a Polish automobile parts distributor, operating in Central and Eastern Europe.

NRF’s team in Warsaw included Partner Grzegorz Dyczkowski, Senior Associate Krzysztof Gorzelak, Associate Oskar Arben Sula, and Lawyer Michal Rutkowski, with a further team in Frankfurt.

The Clifford Chance team included Poland-based Partner Andrzej Stosio, Of Counsel Nick Fletcher, Senior Associate Kacper Bardan, and Junior Associates Artur Gladysz and Aleksander Smakosz; Romania-based Managing Partner Daniel Badea, Counsel Cosmin Anghel, and Associates Mihai Dolhescu, Dana Mirea, and Dorin Giurgi; Czech-based Partner Milos Felgr and Associate Tereza Rehorova; Slovak-based Senior Associate Stanislav Holec and Junior Lawyer Andrej Havko; and a further team in Germany.

Krehic & Partners’ team included Managing Partner Tarja Krehic and Partner Ivan Zornada.

Magnusson’s team in Lithuania included Managing Partner Ligita Ramanauskaite and Associate Roma Morkunaite.

Sorainen has advised Gjensidige on the SEK 1.4 billion acquisition of Falck Roadside Assistance from Falck Investment Sverige. Gernandt & Danielsson advised the seller.

Closing is expected in the first quarter of 2022, pending regulatory approval.

According to the firm, “the acquisition is in line with Gjensidige’s strategy of taking a holistic approach to answering customers’ needs and complements Gjensidige’s products and services in the Nordic mobility space.”

​​Falck Nordic and Baltics is a roadside assistance provider with nationwide franchise networks in Sweden, Norway, Finland, Estonia, and Lithuania. The company offers roadside assistance and call center services including emergency repairs, tire replacements, battery and bulb changes, and battery boosters as well as general towing services.

“Our key priority over the next years is to maintain and further strengthen our direct customer relationship and become an even better and more relevant partner for our customers,” Gjensidige CEO Helge Leiro Baastad commented. “Falck Nordic & Baltics’ road assistance services is a very good strategic fit for us and provide a natural complement to our offerings in the mobility space, with a focus on convenience for our customers.”

The Sorainen team was led by Estonia-based Partner Toomas Prangli and Counsel Lauri Liivat and included Counsels Piibe Lehtsaar and Pirkko-Liis Harkmaa, Associates Kirsi Johanna Koistinen, Nele Suurmets, and Vladislav Leiri, as well as Lithuania-based Counsel Monika Malisauskaite-Vaupsiene, Senior Associates Edita Dauksiene, Aurelija Daubaraite, Svetlana Rudaja, and Mindaugas Dominykas Baniulis, and Associate Auridas Litvinas.

Havel & Partners has advised Credo Ventures and Earlybird Digital East Fund as well as Slovak start-up Photoneo on its USD 21 million investment round.

According to Havel & Partners, “apart from Credo Ventures and Earlybird Digital East Fund, other investors that participated in the investment round included IPM Group, a global asset manager focusing on technology companies, together with the Venture to Future Fund, and other funds.”

Photoneo specializes in R&D activities in 3D sensing technology and vision-guided robotics and focuses on new comprehensive solutions for fully automated distribution centers.

Havel & Partners’ team included Partner Vaclav Audes, Senior Associate Tomas Navratil, Associate Ivana Gajdosova, and Junior Associate Kristina Ocenasova.