A multidisciplinary team consisting of lawyers from Reff & Associates and financial and tax advisors from Deloitte Romania assisted the investment fund SARMIS Capital in the takeover of the majority stake of the paper producer MG-Tec Industry. The transaction was completed in October 2024, following regulatory approvals.
Following this acquisition, SARMIS Capital will support MG-Tec Industry in its international expansion process. The paper manufacturer currently owns three modern production facilities located in Dej, Cluj County, and a diversified product portfolio, which includes jumbo rolls, toilet paper, kitchen towels, wipes and medical rolls, marketed under both its own brands and private labels.
“We collaborated very well with Reff & Associates’ team in this project – I was glad to have a team by my side that helped me quickly and pragmatically find efficient solutions that supported the transaction’s tempo and the involved parties’ desire to successfully complete an investment in an important field,” said Cătălin Oroviceanu, Partner, SARMIS Capital.
The lawyers from Reff & Associates | Deloitte Legal involved in the project, coordinated by Georgiana Singurel, Partner and Leader of the Commercial, Corporate and M&A practice, provided complex legal services throughout the transaction, covering the legal due diligence stage, which involved a complex analysis from multiple angles, as well as assistance in the structuring and implementation phases of the transaction.
Also, the legal experts assisted SARMIS Capital in the documentation preparation and negotiation, signing and closing, after the necessary conditions were met. The team consisted of Ștefan Cărămidă, Senior Managing Associate, who was involved in all the essential phases of the project and worked closely in the due diligence process with Adrian Radu, Senior Associate, Ovidiu Bălăceanu, Senior Managing Associate, and Călin Cosma, Senior Associate, who covered the issues related to permits (including environmental permits), Adrian Coman, Senior Managing Associate, specialized in state aid, Bogdan Vlad, Senior Associate, from the banking and finance team, and Diana Stan, Managing Associate, from the real estate law team.
“Our multidisciplinary team provided assistance in all the stages of this transaction, providing our client SARMIS Capital with a broad and detailed vision of the company they were going to take over. The complexity of the project was generated by the specifics of MG-Tec Industry's field of activity and by the multiple aspects covered by our analysis, which required expertise in various areas of practice – commercial law, environment, financing, real estate, labor law, financial advisory and tax. We are grateful to have had the opportunity to contribute to the success of one of the most important transactions in the paper production sector,” said Georgiana Singurel, Partner, Reff & Associates | Deloitte Legal, and Leader of the Commercial, Corporate and M&A practice.