RTPR and Allen & Overy advise Innova Capital on the acquisition of a majority stake in EMI

RTPR has assisted the private equity fund Innova Capital in relation to the acquisition of a majority stake in EMI (EMI Equipement Maintenance Industrie S.A.) from Morphosis Capital, Belemi and the founder of the business, Jerome France. 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.

A joint team of lawyers from RTPR and Allen & Overy provided advice in all stages of the transaction. Alina Stavaru (Partner) coordinated the RTPR team which covered Romanian law aspects of the deal, which also included Ana Maria Barbu (Senior Associate), Cezara Urzica, Codrina Simionescu, Andrei Tosa (Managing Associates), Serban Halmagean (Associate), Filip Marinau, Flavia Mincu, Maria Luca and Irina Marinescu (Junior Associates) for the due diligence. Alina Stavaru and Cezara Urzica covered the drafting and negotiation of the transaction documents, while Roxana Ionescu (Partner) and Serban Halmagean prepared the merger control notification of the transaction to the Competition Council. The Allen & Overy team included Jaroslaw Iwanicki (Managing Partner), Maciej Skoczynski (Counsel) and Antoni Roszkowski (Senior Associate).

I am happy that we closed a new transaction for our client Innova Capital, shortly after the last one which was announced in May, which demonstrates the fund’s interest in Romania and in solid businesses with a potential to grow. Furthermore, it is the second time we have been involved in the acquisition of a shareholding stake in EMI, the first time in 2021 we were the lawyers of the buyer at the time, Morphosis Capital”, said Alina Stavaru, Partner of RTPR.

Jaroslaw Iwanicki, Managing Partner of A&O Warsaw added: “We at Allen & Overy are delighted to have the opportunity to team up with our colleagues from RTPR and advise Innova on this complex transaction, including several jurisdictions. This deal shows that together we can work seamlessly across borders and deliver top class service to our clients.”

At the end of an intense project, with several rounds of negotiations, I am glad that we were able to identify the finest solutions that led to the completion of the deal on the best terms for all parties involved. I am honoured to have been part of the team that advised on this mandate and I would like to congratulate Innova Capital for this success”, added Cezara Urzica, Managing Associate at RTPR.

The deal represents the third mandate in which Alina Stavaru and the RTPR team assist Innova Capital. In 2020, they advised the private equity fund on the acquisition of PayPoint Services SRL and Payzone SA from the PayPoint group, and this year on the acquisition of a majority stake in the NETOPIA Group, one of the best known payment service providers (PSP) in Romania.

The law firm has unrivalled experience in M&A and private equity deals. Private equity funds choose RTPR for its extensive expertise in both buy-side and sell-side mandates, the firm’s client portfolio includes most of the funds that have investments in Romania.

RTPR and Allen & Overy have been working together for many years on some of the largest and complex transactions and projects in the region and have repeatedly pooled their teams to provide services perfectly tailored to the needs of the clients on regional matters.

Selected private equity deals in which RTPR have recently advised are set out below:

  • Sarmis Capital on the acquisition of a majority shareholding stake in BMF Grup, the largest integrated facility management company on the Romanian market
  • GreenGroup, a company in the portfolio of private equity fund Abris Capital Partners, on the acquisition of UAB Zalvaris, the largest industrial waste management company in Lithuania, as well as on the acquisition of UAB Ecso, a Lithuanian LDPE (Low Density Polyethylene) recycling company
  • Integral Venture Partners on its investment in Medima Health, a chain of medical clinics with a national presence, specialised in imaging and radiology
  • Enterprise Investors on the sale of Noriel, the largest toys and games retailer in Romania, to Sunman Group
  • Catalyst Romania on the acquisition of a minority stake in Evolution Prest Systems S.R.L., the company that owns the e-commerce website evoMAG.ro
  • Dual role on the investment of the private equity fund Morphosis Capital in Cronos Med Group, leader in aesthetic medicine in Romania
  • Sarmis Capital on the acquisition of a majority stake in Corporate Office Solutions (COS), the leading integrated office fit-out services provider in Romania
  • Abris Capital Partners and GTS Global Intelligence S.A. on the acquisition of Knowledge Investment Group SRL, operating under the Lummetry.AI brand, a Romanian artificial intelligence business
  • Oresa on the acquisition of logistics and industrial park Solo Iasi from Tester Group owned by Romanian businessman Bogdan Pitigoi
  • Enterprise Investors on the sale of Profi supermarket chain to Mid Europa Partners, the largest deal ever completed by a private equity fund in Romania and the largest deal in the retail sector in the country’s history