RTPR advises Boldmind Capital Partners on Pall-Ex Romania acquisition

RTPR has advised private equity fund Boldmind Capital Partners on the acquisition of Pallet Express S.R.L. from Delamode Group Limited, a portfolio company of BaltCap, the largest private equity fund manager in the Baltic states. Trading under the Pall-Ex Romania brand, Pallet Express S.R.L. operates Romania’s Pall-Ex palletised freight distribution network, providing domestic and cross-border pallet logistics services and connecting Romanian shippers to the wider European Pall-Ex system. Alongside the acquisition itself, the law firm also advised the buyer on the financing of the transaction, delivering a single, joined-up team across both workstreams.

The project team was coordinated by Mihai Ristici (Partner) and Marina Fecheta-Giurgica (Counsel), who were closely assisted at every stage of the matter by George Capota (Associate). The due diligence team further included Cezara Urzica (Counsel), Iulian Maier, Andrei Tosa (Senior Associates), Victor Popa (Associate). Roxana Ionescu (Partner) and Serban Halmagean (Managing Associate) provided assistance in relation to foreign direct investment aspects of the transaction. The financing team was made of Cosmin Tilea, Alexandru Retevoescu (Partners), Bianca Eremia (Senior Associate), Andreea Stoiciu and Ion Arhiliuc (Associates). Separately, Alina Stavaru (Partner), Vlad Stamatescu (Counsel) and Fabian Oltenacu (Junior Associate) advised the management team in connection with the transaction.

“We are grateful to the RTPR team for their excellent support throughout this transaction. Their deep understanding of the legal and commercial aspects of private equity transactions, combined with their commitment and responsiveness, made them a valuable partner at every stage of the process.” said Florina Stancu, Partner at BoldMind Capital Partners BV

“This transaction is a further illustration of investors’ appetite for well-run, resilient businesses with clear growth potential. We were delighted to stand alongside Boldmind Capital Partners throughout this project, from the acquisition of Pallet Express to the financing that supports it, and we thank them for the trust they placed in us. My thanks also go to my colleagues for their professionalism, rigour and commitment; the contribution of every member of the RTPR team was essential in bringing this deal to a successful close”, said Mihai Ristici, Partner of RTPR.

“We are proud to have supported Boldmind Capital Partners in adding a logistics platform to its portfolio and to mark a new landmark project for our practice. This transaction was a joined-up effort across our M&A, FDI and Banking and Finance teams. We thank the team at Boldmind Capital Partners for their trust, but also for their responsiveness and pragmatic approach at every turn, which made all the difference in navigating such a complex process”, added Marina Fecheta-Giurgica, Counsel at RTPR.

RTPR’s Corporate/M&A and Banking & Finance practices are some of the most experienced in Romania, in recent years being involved in many landmark transactions on the local and international market. Legal 500, Chambers and IFLR1000, the most important international legal directories, rank the law firm in the first tiers for the two practice areas, both for team rankings and individual ones, several of the team’s lawyers are recommended as Leading Lawyers or Rising Stars for these fields.

Selected corporate/M&A deals in which RTPR have recently advised are set out below:

• Resource Partners, one of the largest CEE private equity funds, on the sale of its entire stake in Ia Bilet SRL, the well-known Romanian ticketing platform, to PLG Romania, part of AS Piletilevi PLG
• Viorel and Elena Tofan, the shareholders of Dinamic92 Distribution SRL, Romania’s leading independent tyre distributor, on the sale of the company to Nordic Tyre Group, one of Europe’s leading independent tyre wholesale and distribution platforms backed by Nordic private equity firm Axcel
• Provectus Capital Partners on the acquisition of a majority stake in Seatbelt Consulting, Romania’s market leading provider of occupational health and safety services
• Macquarie Asset Management (MAM) on the EUR700m sale of Evyro Group, owner of Distributie Energie Oltenia (DEO), a regulated electricity distribution network in Romania, to Premier Energy Group
• MidEuropa on the sale of Regina Maria Group to Mehiläinen in the largest ever healthcare services transaction in Central Europe
• MidEuropa on the sale of Cargus to courier company SAMEDAY, part of the eMAG group
• MidEuropa on the EUR1.3bn sale of Profi, in the largest transaction in the retail sector ever concluded in Romania
• Tenaris Silcotub on the acquisition of Artrom Steel Tubes, a European leader in the production of seamless steel pipes for industrial applications
• EMSA Capital on the sale of its 100% shareholding in Aplast, a Romanian manufacturer of PVC windows and doors, to Extruplast
• AROBS Transilvania Software, an important Romanian company that provides software services and solutions in various industries and the largest tech company listed on the Bucharest Stock Exchange, on the acquisition of Quest Global Romania