Category: Deals and Cases

Wolf Theiss, working with Hughes Hubbard & Reed and Plesner Advokatpartnerselskab, has advised Standard Motor Products on its acquisition of AX V Nissens III APS for approximately USD 388 million in cash from Nordic private equity firm Axcel and the Nissen family.

The transaction remains contingent on regulatory approval.

Standard Motor Products is an automotive parts manufacturer and distributor.

According to Wolf Theiss, “the transaction values Nissens at approximately USD 388 million, representing approximately 7.5x adjusted EBITDA after factoring in estimated run-rate cost synergies at the mid-point of USD 10 million.”

The Wolf Theiss team included Poland-based Partners Izabela Zielinska-Barlozek and Maciej Szewczyk and Associate Michal Pypka, Hungary-based Partner Janos Toth and Senior Associate Peter Ihasz, and Slovakia-based Partner Bruno Stefanik.

Wolf Theiss did not respond to our inquiry on the matter.

Binder Groesswang has advised NKMS Holding on the acquisition of Austrian and Czech subsidiaries of the German-based Gienanth Group. Baker McKenzie advised Gienanth Group.

The transaction remains contingent on regulatory approval

NMKS Holding operates several companies in the metal industry and is based in Vienna. According to Binder Groesswang, “Gienanth Steyr Guss and its subsidiaries Gienanth Steyr MBA, based in Steyr, Austria, and Gienanth Czechia, based in Kaplice, Czech Republic, are being transferred. The integration of the foundries in Steyr and the further processing in Kaplice is an excellent strategic fit with the existing foundry and manufacturing activities of NKMS Holding.”

The Gienanth Group was founded in 1795 as a hammer mill. Today, the Gienanth Group is a foundry group specializing in the production and finishing of iron castings using machine and hand molding processes. 

The Binder Groesswang team included Partners Andreas Hable, Horst Lukanec, Christian Wimpissinger, and Christine Dietz, Counsels Sabine Apfl-Trompeter and Johannes Bammer, Senior Associates Simona Chwala and Max Danzinger, and Associates Roman Zaufl and Larissa Wagner.

The Baker McKenzie team included Counsel Philipp Stanek, Senior Associates Sophie Schubert, Andrea Haiden, and Nina Lenhard, and Associates Max Felbermayr, Valentin Polla, and Filip Peric.

Wolf Theiss, working with Ropes & Gray, has advised American Industrial Partners on its investment in Austin Powder. Jones Day reportedly advised Austin Powder.

American Industrial Partners is an investment firm managing approximately USD 16 billion in assets.

Austin Powder is a provider of industrial explosives and engineered blasting solutions.

The Wolf Theiss team included Austria-based Partners Horst Ebhardt, Kurt Retter, Matthias Unterrieder, Ralf Peschek, Birgit Kraml, and Robert Wagner, Counsels Doris Buxbaum, Harald Strahberger, and Markus Taufner, Senior Associate Magdalena Ziembicka, and Associates Klemens Kendler, Sang Wha Lee, and Sarah Haubmann, Poland-based Partners Anna Dabrowska and Bartosz Kuras, Counsel Jakub Pietrasik, Senior Associate Michal Zajaczkowski, and Associates Jan Kazmierczak, Julia Dolna, and Paulina Wojtkowska, Czech Republic-based Counsels Tereza Naucova, Ondrej Benes, and Tomas Kren, Senior Associates Barbora Malimankova and Michal Matous, and Associates Anna Bilanova, Dan Schneeweiss, Maros Kandrik, and Tereza Mrazkova, Slovakia-based Partner Bruno Stefanik, Counsel Zuzana Hodonova, Senior Associate Vladimir Simkovic, and Associates Kristina Semanska and Peter Dibala, and Hungary-based Partner Janos Toth and Associate Bence Andras Kiraly.

Dentons and Greek-based MSTR Law have advised the Greencells Group on obtaining EUR 65 million in development financing for its solar plant portfolio across seven jurisdictions. Bernitsas and, reportedly, Hogan Lovells advised Kommunalkredit – the structuring bank and sole lender.

Greencells Group is a renewable project developer.

According to Dentons, “the financing will enable Greencells to fund the further development and expansion of its pan-European photovoltaic and battery storage portfolio and is based on a borrowing base approach with an option to increase the total financing to EUR 100 million.”

The Dentons team included Poland-based Partner Piotr Nerwinski, Counsel Joanna Swiostek, Senior Associate Aleksandra Czyz, and Junior Associate Aleksandra Grzeskowiak alongside further team members in Germany, Italy, Spain, France, UAE, and the Netherlands.

The MSTR team included Partner Dirk Reinhardt, Senior Associates Xanthi Kourti, Anastasia Nikolakopoulou, and Thodoris Kriarakis, and Associate Dimitra Georgaki.

Bernitsas’ team included Partner Athanasia Tsene and Associate Sildia Fotopoulou.

CMS has advised Austria-based Rail Cargo Group on creating a joint venture with Serbia-based Transfera.

OBB subsidiary Rail Cargo Group is a European rail logistics provider.

Transfera is Serbia’s second-largest transport and logistics provider. 

According to CMS, “RCG will own 51% and Transfera 49% of the new company, which will be headquartered in Belgrade. The joint venture will initially focus on developing intermodal logistics solutions, aiming to integrate Serbian railways into the European transport network and promote environmentally friendly transport solutions.”

The CMS team included Belgrade-baesd Partner Marija Tesic, Counsel Srdjan Jankovic, and Attorney at Law Mila Drljevic, Vienna-based Partner Dieter Zandler, and Warsaw-based Partner Malgorzata Urbanska.

CMS did not respond to our inquiry on the matter.

Schoenherr, working with Rutgers & Posch, has advised the shareholders of Resalta on the disposal of a controlling stake in Resalta BV Netherlands, including its Slovenian, Croatian, Serbian, Romanian, and Czech Republic subsidiaries, to Aggreko. A&O Shearman reportedly advised Aggreko.

Resalta is an energy service company operating in Central and Southeast Europe.

Headquartered in Glasgow, Scotland, Aggreko is a supplier of mobile and modular power, temperature control equipment, and energy services.

The Schoenherr team included Slovenia-based Partners Peter Gorse, Vid Kobe, Marko Frantar, and Matej Crnilec, Senior Associate Tilen Zagar, Attorneys at Law Maks David Osojnik and Manja Hubman, and Associate Miriam Gajsek, Croatia-based Attorneys at Law Lea Muzic, Ksenija Sourek, and Dina Vlahov Buhin, and Associate Doroteja Sturm, Czech Republic-based Attorneys at Law Petr Koral, Jiri Marek, and Sebastian Speta, Romania-based Attorneys at Law Simona Lehniuc, Alexandra Huza, Alexandra Paduraru, Vlad Cordea, Cristiana Manea, and Carla Filip, and Serbia-based Attorneys at Law Pavle Eric and Bojan Rajic and Associate Milos Jokic.

Editor’s Note: After this article was published, Selih & Partners informed CEE Legal Matters that it advised Agrekko on the deal as well, alongside A&O Shearman’s team in the Netherlands, Divjak, Topic, Bahtijarevic & Krka Law Firm in Croatia, BDK Advokati in Serbia and RTPR in Romania. The Selih & Partners team included Partners Natasa Pipan Nahtigal, Jera Majzelj, Spela Arsova, and Mia Kalas, Senior Associates Lidija Zupancic, Miha Hocevar, and Gregor Novljan, and Associates Eva Novak, Nina Licen, and Tim Music Kralj.

The DTB team included Senior Partner Mario Krka, Partner Marina Kovac Krka, and Attorneys at Law Ana-Maria Sunko Peric, Dominik Glavina, and Marta Hren.

The BDK team included Senior Partners Dragoljub Cibulic and Dragoljub Sretenovic, Senior Associates Marija Gligorevic, Djordje Zejak, and Relja Radovic, Attorney at Law, Anja Gligorevic, and Junior Associate Petar Eric.

Gecic Law, working with Fellner Wratzfeld & Partner, Von Wobeser y Sierra, and Pedersoli Gattai, has advised Remus Holding on the acquisition of a controlling stake in GLM from Star Capital Sgr. Giliberti Triscornia e Associati reportedly advised Star Capital.

Remus is a manufacturer of exhaust systems for the automotive and motorcycle industries.

GLM is an Italian manufacturer of automotive components. According to Gecic Law, “the acquisition includes an indirect takeover of GLM RS Zrenjanin, a crucial part of GLM’s global manufacturing capacities.”

Star Capital Sgr is an Italian asset management company.

The Gecic Law team included Partner Ognjen Colic, Senior Associates Milos Petakovic and Nemanja Sladakovic, and Associates Bojan Tutic, Marko Jovic, Nikola Ivkovic, Vasilije Boskovic, and Zarko Popovic.

The Fellner Wratzfeld & Partner team included Partners Markus Fellner and Lukas Flener, Senior Lawyer Peter Blaschke, and Associate Maximilian Heinz.

TGS Baltic has advised Rulonas on its acquisition of IMS Baltic companies from Metal Service Group Holding. Widen Legal reportedly advised the sellers.

Rulonas is a supplier of stainless steel and aluminum in the Baltic region.

Metal Service Group Holding engages in trading, processing, and distribution of steel and other metal products.

IMS Baltic companies operating in Lithuania, Latvia, and Estonia were formerly known as Schmolz+Bickenbach Baltic and Swiss Steel Baltic. According to TGS Baltic, “these companies have been part of the Baltic market since 1997 under Jacquet Metals, a global steel industry leader. This strategic move will significantly expand Rulonas Group’s steel product range. “

The TGS Baltic team included Partners Aurimas Pauliukevicius and Andra Rubene, Associate Partner Triinu Jarviste, Counsel Maris Vutt, Senior Associates Anna Vaivade and Indre Vickaite-Liatuke, Associate Evija Abele, Lawyer Aleksander Pajuri, and Legal Assistant Meda Stankute.

JDP has advised Nextbike on an agreement with its minority shareholder LARQ under which it sold all its shares to majority shareholder Tier Mobility. White & Case reportedly advised Tier Mobility.

Nextbike is a bike-sharing company operating in Europe.

According to JDP, as a result of this transaction, Tier Mobility’s share reached 90.04% and “this agreement and transaction end the 3-year-long dispute between the shareholders, which involved and influenced Nextbike.”

The JDP team included Partner Marcin Chomiuk, Head of Tax Magdalena Zasiewska, Of Counsel Boguslaw Lackoronski, Counsel Barbara Kaczala, Senior Associates Karol Macias, Arkadiusz Gorski, and Anna Nowodworska, and Associates Klaudia Olejniczak, Aleksander Eggink, and Justyna Kamionowska.

JDP did not respond to our inquiry on the matter.

SSK&W has advised bValue and 500 Emerging Europe on their investment in Vidoc Security Lab. Dentons’ Turkish affiliate BASEAK advised 500 Emerging Europe. Sole practitioner Aleksandra Szymczak reportedly advised Vidoc Security Lab.

bValue is a technology investor fund co-financed by PFR Ventures.

500 Global is a venture capital firm with USD 2.4 billion in assets under management

According to SSK&W, “Vidoc Security Lab, cofounded by Klaudia Kloc and Dawid Moczadlo, is a platform set to redefine how security checks and penetration testing is approached, streamlining and optimizing the process for cybersecurity professionals around the globe.”

In 2023, SSK&W advised bValue on its earlier investment Vidoc Security Lab (as reported by CEE Legal Matters on October 4, 2023) and has also advised bValue and THC Pathfinder on their investment in Innential (as reported by CEE Legal Matters on April 28, 2023).

The SSK&W team included Partner Szymon Syp and Associate Natalia Grzegorzewska.

The BASEAK team included Partner Okan Arican and Associate Dilruba Guldogan.