RTPR advises founders on Romanian Te-Rox Prod sale to Swedish group Holmbergs

RTPR has assisted the shareholders of Te-Rox Prod, a Romanian company and a leading European producer of covers and harness systems for child safety seats in relation to the sale of the business to the Swedish group Holmbergs. Holmbergs is a global market leader in the growing niche markets of safety products and systems for child safety seats, as well as for the secured transportation industry. The transaction was signed at the end of October and now it was closed after the fulfilment of conditions precedent agreed by the parties.

The RTPR team included Alina Stavaru (Partner), Marina Fecheta-Giurgica (Associate) and Raluca Marcu (Junior Associate). Together with the RTPR lawyers, a team of lawyers from David & Baias assisted the two founders of Te-Rox Prod, Doina and Roxana Cepalis, while PwC provided financial and fiscal advice.

Doina Cepalis, the founder of Te-Rox Prod, declared: „For me as an entrepreneur who created and grew Te-Rox as my own child, when it came the moment of a transaction, I wanted what is best and safest for me and Te-Rox and I did not want to be vulnerable because everything was new for me. Alina and RTPR have been recommended to me as the best and most experienced M&A lawyers on the market, but until we worked together I did not know what to expect. Indeed, they were next to me for every step with dedication and professionalism, the way they patiently explained every implications, the way they obtained certain important points from a commercial perspective, not only from a legal perspective, by convincing all parties involved of the fairness of our requests, and last but not least the empathy I felt throughout the process, proved me that I chose the best lawyers and I would like to thank Alina and the team for the excellent collaboration.”

RTPR has extensive experience in assisting Romanian entrepreneurs for the exits from the successful businesses they built and which attracted private equity funds or strategic investors. Selected M&A transactions in which RTPR have recently advised local entrepreneurs are set out below:

• the shareholders of Sano Vita, one of the most reputable and trusted food brands in Romania, on the sale of the business to the American private equity fund Highlander Partners
• the shareholders of A&D Pharma, the largest pharma group in Romania, operating wholesale, retail and marketing & sales business and with operations in CEE as well, on the sale of the entire group to Dr Max, the Czech pharmacy chain owned by Penta Investments
• the shareholders of Intelligent IT, the company renowned for the billing software SmartBill, on the sale of the business to Visma group, a Norwegian giant in the software industry
• the shareholders on the sale of Farmavet S.A., Pasteur Filiala Filipesti S.R.L. & the fodder business of Agrozootehnica Pietroiu S.A. to Gardenica Limited, owned by CEE China II Fund (managed by CEE Equity Partners)
• AROBS Transilvania, a market leader in software products and services development, on the acquisition of SAS Grup and UCMS Romania
• Autonom Services on the acquisition of BT Operational Leasing, the operational leasing company owned by Banca Transilvania group
• the shareholder of Pet Product, the largest pet shop chain in Romania operating under the Animax brand, on the sale of the company to Rohatyn Group