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Clifford Chance Badea's M&A and Technology Practice advised Abris Capital Partners in relation to the acquisition of a majority stake in Global Technical Group

23 July 2019

Clifford Chance Badea's M&A and Technology Practice advised Abris Capital Partners in relation to the acquisition of a majority stake in Global Technical Group

Clifford Chance Badea has advised the private equity fund Abris Capital Partners in the acquisition of a majority stake in Global Technical Group, the leading end-to-end solution provider for building management and security integrator in Romania.

Nadia Badea, Clifford Chance partner and coordinator of the Bucharest office M&A practice, said: "We announce a new transaction with Abris Capital Partners, with which we have constantly worked over the past few years on a number of acquisitions, exits and financing projects, this time into a new industry – Technology, that has so much potential in Romania. We brought into this project our private equity extensive know-how, in-depth understanding of the client's needs and interests, as well as the integrated technology expertise that Clifford Chance has been focused to develop in recent years, at a global level".

The team of lawyers included Nadia Badea, partner, Mihai Măcelaru (lead counsel), Ecaterina Burlacu (M&A senior associate), Mihnea Niculescu, Bogdan Micu and Octavian Marcu (lawyers), and Diana Crângaşu (senior associate specialized in competition law), and provided assistance to Abris Capital Partners throughout the whole process, from the due diligence stage, to deal structuring, negotiation and drafting of the related documentation.

"As technology is increasingly taking on public agendas and business strategies around the world, transactions in this area are multiplying," says Mihai Măcelaru, lead counsel and coordinator of the Clifford Chance Badea Technology Practice. "We were glad to support one of the most dynamic private equity funds in Romania in a deal that will undoubtedly take a successful entrepreneurial example to the next development stage."

As a trusted advisor of Abris Capital Partners since 2013, Clifford Chance has been advising the fund on all its investments in Romania, including the successive acquisitions in the courier industry - Cargus from DHL/Deutsche Post, the portfolios of TCE Logistica, CRX and Otto Curier in 2013, and Urgent Curier in 2014, as well as the sale of Urgent Cargus to Mid Europa Partners, in 2018; the purchasing of a stake in the Pehart Tec Group, the leading tissue paper producer in Romania and the largest independent business of this type in the CEE region (2015); the acquisition of Romanian waste-management business Green Group, a leading investor in the green industry, operating working points in Romania, as well as in Serbia, Macedonia, and Germany (2016).

The firm's recent portfolio in Technology, Media and Telecom (TMT) deals includes:

1. The DIGI bonds issues – Advising J.P. Morgan and Deutsche Bank in relation to the EUR 350 million bonds issues launched in 2016 by Digi Communications (DIGI), the mother company of telecom operator RCS&RDS, as well as advising Citigroup in relation to a new EUR 200 million bonds issue launched in February 2019, that is to be consolidated into the 2016-issued DIGI bonds;

2. Czech Media Invest takes over the Lagardère Group's Central and Eastern European radio assets: Advising Czech Media Invest (CMI) throughout the acquisition of the CEE radio assets of multinational media conglomerate Lagardère Group;

3. Vitruvian Partners investment fund takes over 30% of BitDefender shares - Advising the independent European private equity firm Vitruvian Partners in relation to its acquisition of a 30% stake in BitDefender, a leading global cyber security technology company;

4. Digi Communications N.V. IPO - Romanian law advisory to Citigroup and Deutsche Bank (as Joint Global Coordinators), and BT Capital Partners S.A., BRD - Groupe Societe Generale S.A., Societe Generale S.A., Raiffeisen Bank S.A. and Wood & Company Financial Services (as bookrunners) in relation to the Digi Communications N.V. public offering and admission of shares to trading on the Regulated Spot Market of BSE (May 2017);

5. Financing the acquisition of Netcity Telecom by Direct One - Advising Banca Comercială Română and BRD Groupe Société Générale in connection with the financing provided for the acquisition of NetCity by Direct One;

6. RCS & RDS refinancing through a bond issue and a syndicated loan - Advising JP Morgan and Citibank's in relation to a 7-year Euro 350 million bond issue.

Clifford Chance's Tech Group comprises a global, cross-practice team of over 400 lawyers with extensive industry expertise. As well as representing market-leading players in the Tech sector, the group helps a range of clients to explore the opportunities and risks that technology brings. Services provided by the technological group focus on Tech M&A, Intellectual Property, Antitrust, Cyber, Data and Fintech. For more information please visit this page.