We are pleased to announce that Rymarz Zdort advised Innova Capital on the sale of 100% of the shares in Trimo d.o.o. (“Trimo”) to Recticel NV, a Belgian company listed on Euronext (“Recticel”). As a result of the transaction and subject to standard conditions precedent, Innova Capital undertook to sell its 100% stake in Trimo to Recticel in exchange for a price reflecting an enterprise value of EUR 164 million. The acquisition of Trimo marks another important milestone in Recticel’s strategic portfolio reorientation. The transaction is expected to close not later than the third quarter of 2022.
The Slovenian Trimo Group is a leading European producer of sustainable, mineral-wool insulated panels and building envelopes for the construction industry. Trimo sells its premium products in 60 countries worldwide.
Recticel is a Belgian industrial group with a strong European dimension as well as operations in Asia, Africa and the United States.
“We would like to congratulate Innova Capital on the transaction and are glad to once again have been given the opportunity to participate in a regional project and to support our client as lead transactional legal counsel” - said managing partner Paweł Zdort.
The Rymarz Zdort team that served as lead transactional counsel comprised Corporate practice partners Paweł Zdort and Dr Jakub Zagrajek, and senior associate Małgorzata Deruś. The antimonopoly aspects of the transaction were handled by attorneys from the Rymarz Zdort Competition/Antitrust practice, including partner Iwona Her, counsel Irmina Wątły, senior associate Tomasz Kordala and associate Karolina Chudy.
The Rymarz Zdort transaction team was supported by local legal advisors Jadek & Pensa, a Slovenian firm, and Prica & Partners, a Serbian firm.