Category: News

SARMIS Capital has announced the acquisition of Total Technologies, one of the most prominent Honeywell technology integrators for industrial automation in Central and Eastern Europe. The acquisition is carried out through Smart ID Technology, a SARMIS Capital portfolio company, and strengthens its ability to deliver complex technological solutions in retail, manufacturing, delivery, logistics, and distribution. This is the second transaction made by Smart ID following the purchase in 2022 of the Romanian leader in ERP software, Sceptrum. The completion of the current transaction is subject to approval by the Competition Council.

The transaction marks a significant step in SARMIS Capital’s strategy to support the growth of its portfolio companies. The synergies between Smart ID and Total Technologies will drive the formation of an integrated structure, bringing together over 180 highly skilled specialists capable of delivering innovative and customized solutions. The combined turnover will exceed €35 million.

“Joining SARMIS Capital and Smart ID Technology’s strategic vision represents a natural and well-founded step”, said Giani Iancu, CEO and shareholder of Total Technologies. “This transaction creates opportunities to expand our capabilities and deliver innovative solutions to our clients.”

“With the support of SARMIS Capital and through the integration of Total Technologies, we are strengthening our position as a regional independent leader and diversifying the range of solutions we offer to our clients,” added Daniel Boangiu, CEO and founder of Smart ID. “This is an important milestone in our development strategy, and we are pleased to be able to rely on the Total Technologies team, that will remain alongside us. Giani Iancu will continue to play a supervisory role and actively contribute operationally and strategically, strengthening long-term relationships based on trust and mutual respect with Total Technologies’ clients and suppliers.”

“The acquisition of Total Technologies represents an important step in our strategy to build a leader in the automation and data capture solutions market,” said Cezar Scarlat, Managing Partner at SARMIS Capital. “This transaction marks an essential development in an extensive series of acquisitions to support inorganic growth in the CEE region, for which we have allocated a budget of €20 – 30 million. We are confident that the partnership between Smart ID and Total Technologies will create significant value for the clients and employees of the companies in our portfolio, while counting on the support of blue-chip partner-vendors. We are also pleased that Giani Iancu will remain with us, with his role expanding to the Board of Directors level in the new consolidated structure. Moreover, through the jointly designed partnership structure, we feel strongly aligned in our vision for a shared future.“

Consultants involved in this transaction:

For Smart ID Technology: bpv Grigorescu Ștefănică (legal), Path2Capital (strategic advisor), TS Partners (financial), Dobrinescu Dobrev Tax Advisory (tax)

For Total Technologies: Daniel Vutcanu (legal), Mihai & Co. Business Lawyers (legal)

Smart ID Technology was assisted by a multi-disciplinary team of lawyers from bpv GRIGORESCU STEFANICA, who provided comprehensive advice at all transaction stages, including due diligence, drafting and negotiation of the transaction documents. The team was coordinated by Iulia Dragomir, Partner (Corporate, M&A, Tax) and included Cristina de Jonge, Partner (Commercial, Competition), Denisa Kopandi, Senior Associate (Commercial, Competition), Andreea Lupșa, Senior Associate (Employment), Matei Tomi (Corporate, M&A), Mădălina Dimache (Real Estate), as well as other team members for the relevant areas of due diligence and transaction advisory. Previously, bpv Grigorescu Ștefănică advised the founders of Smart ID Technology in connection with SARMIS Capital’s investment in Smart ID Technology and assisted with Smart ID Technology’s acquisition of the integrated software solutions provider Sceptrum.

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About Smart ID Technology is one of the leading local technology providers, with over 14 years of experience in delivering integrated solutions that combine software, hardware, and automation, tailored to companies aiming to optimize costs and increase productivity. With a performance-oriented approach, the company serves industries operating in complex and dynamic environments, such as retail, logistics, and manufacturing, offering critical business solutions to streamline processes and improve operational workflows. Whether it involves implementing high-performance equipment, developing software tailored to specific requirements, or automating critical processes, the company’s mission is to deliver solutions that create real and sustainable value for its partners. https://www.smartid.ro/

About Total Technologies is one of the leading business consultants and integrators of customized digital solutions, with over 30 years of experience in the Romanian technology market. The company focuses on integrating specialized solutions and the complete process of automatic data collection and processing for industries such as retail, manufacturing, courier services, logistics, and distribution, aiming to streamline operational workflows and reduce costs. Total Technologies is an official Honeywell Platinum Elite Partner, Honeywell Voice Partner, and the only authorized Honeywell Center of Excellence in Romania. Additionally, the company has established strategic partnerships in the fields of autonomous and industrial robots, specialized software, and other related solutions essential to the industries it serves. In 2021 and 2022, the company was awarded the title of “Solution Partner of the Year” at the “Partner Kickoff Event” organized by Honeywell. https://www.totaltech.ro/

About SARMIS Capital is an independent private equity fund established in 2019, focused on investments in Central and Eastern Europe. It is the largest fund of this type raised in Romania by a local team. SARMIS brings not only financial capital to its portfolio companies, but also significant strategic, operational, and consolidation expertise. In addition to Smart ID Technology, SARMIS Capital’s portfolio includes MG-Tec Industry, BMF Grup, and Corporate Office Solutions. https://www.sarmiscapital.com

We are pleased to announce the successful evaluation of this year’s autumn Moot Court focused on family law, which we have traditionally organized in cooperation with ELSA Czech Republic.

This year we welcomed a record 20 teams and from them we selected the best 4 who advanced to the second round in our bpv. The decision-making process of our jury was very challenging, as the quality of the involvement of all involved was extraordinary.

Big congratulations to all the winners, including in the best speaker category. Many thanks to our judges: attorneys Pavel Vintr and Adam Stawaritsch, and paralegal Jana Škeříková.

We would also like to thank the student association Elsa for the great organization. We are looking forward to the next year of this student competition and will definitely be watching how the new generation of lawyers with an interest in family law develops. As Adam commented, “We are delighted to be growing a new generation of promising lawyers with an interest in family law.”  

The international law firm bpv BRAUN PARTNERS has provided comprehensive legal advice to domestic investment fund CREDITAS ASSETS on the sale of UK energy company Green Bess Developments developing large-capacity battery storage facilities.

The transaction involved four major battery storage projects in the UK. Three of these projects are located in Scotland and each has a planned capacity of 500 megawatts. The fourth project, located in England, will be developed in two phases – the first phase envisages a capacity of 450 megawatts and the second is expected to reach up to one gigawatt.

Legal advice was provided by the transaction team led by the firm’s partner Mgr. David Vosol, M.B.A. and attorneys Mgr. David Plevka and Mgr. Pavel Březina.

“As part of our comprehensive legal advisory services to the investment fund CREDITAS ASSETS, we coordinated the preparation and review of the complete transaction documentation as “lead counsel” and participated significantly in the negotiations on the structure and terms of the transaction,” says partner David Vosol, “In the preparation and completion of the transaction, we cooperated with the British law firm Watson Farley & Williams, whose support we have had excellent experience with in several previous international transactions.” adds attorney David Plevka.

Investment fund CREDITAS ASSETS, established in 2020,  focuses primarily on investments in the energy sector and owns equity interests in companies engaged in the generation, distribution and trading of electricity.

Vienna, 7 October 2024. The Reverse Share Split at a ratio of 10:1 to reclassify the company’s share capital was resolved at the Annual General Meeting on 14 June 2024. Ten existing shares were merged into one new share (10:1). The Reverse Share Split was successfully completed on the first trading day of the new shares on the SIX Swiss Exchange on 30 September 2024.

The ams OSRAM Group (SIX: AMS), is a leading global supplier of innovative lighting and sensor technologies. Its portfolio includes high-quality semiconductor-based light emitters, sensors, CMOS ICs, and software as well as a range of traditional lighting technologies for automotive and speciality applications. Headquartered in Premstätten/Graz (Austria) and co-headquartered in Munich (Germany), the ams OSRAM Group generated revenues of EUR 3.6 billion in 2023 and is listed on the SIX Swiss Exchange as ams-OSRAM AG.

bpv Huegel advised ams OSRAM on corporate and capital markets. The team was led by Christoph Nauer (Partner, Corporate/M&A, Capital Markets), Barbara Valente (Corporate/M&A, Capital Markets) and Roland Juill (Corporate/M&A, Capital Markets).

Matthias Lack (VP & Head of Legal Corporate) was responsible for the Reverse Share Split in-house at ams OSRAM.

Press release

The IMMOFINANZ Group acquired a further approx. 38% of S IMMO shares from CPI Property Group SA for a purchase price of around EUR 608.5 million.

Vienna, 3 October 2024. bpv Huegel advised IMMOFINANZ on the further increase of its shareholding in S IMMO AG.

IMMOFINANZ Group acquired a further 28,241,094 shares in S IMMO AG from its core shareholder CPI Property Group SA (CPIPG), thereby increasing its shareholding by around 38% to approximately 89%. The purchase price for the transaction amounts to EUR 608.5 million, which corresponds to a price of EUR 21.55 per S IMMO share. This results from the cash compensation of EUR 22.05 to be paid to the minority shareholders of S IMMO AG in the course of the planned squeeze-out less a discount of EUR 0.50 per share. The transaction will be partly financed through a long-term credit facility of EUR 500 million at market conditions provided to IMMOFINANZ by CPIPG. The transaction agreements were signed on 25 September 2024 and the closing was subsequently completed.

IMMOFINANZ Group is a commercial real estate group whose activities are focused on the office and retail segments in eight core markets in Europe: Austria, Germany, Poland, the Czech Republic, Slovakia, Hungary, Romania, and the Adriatic region. Its core business includes property management and development. The real estate portfolio of IMMOFINANZ Group has a value of approximately EUR 8.2 billion and covers 490 properties. The company is listed on the Vienna (leading index ATX) and Warsaw stock exchanges. Further information: https://www.immofinanz.com.

The bpv Huegel team was led by Christoph Nauer (Corporate/M&A, Capital Markets) and included Barbara Valente (Corporate/M&A, Capital Markets), Roland Juill (Corporate/M&A, Capital Markets), Ingo Braun (Finance & Regulatory), Nicolas Wolski (Tax) and Daniel Maurer (Corporate/M&A, Capital Markets).

CPI Property Group S.A. was advised by Wolf Theiss (Florian Kusznier, Claus Schneider).

bpv Huegel’s corporate and capital markets team is also advising IMMOFINANZ on the ongoing squeeze-out of S IMMO. Upon completion of the squeeze-out, IMMOFINANZ Group would become a 100% shareholder of S IMMO.

Deal report

The ITR Tax Awards recognise the best tax consultants and tax lawyers every year. bpv Huegel was awarded twice this year.

London/Vienna, 20 September 2024. bpv Huegel’s tax team was honoured as “Tax Litigation Law Firm of the Year – Austria” and “Transfer Pricing Law Firm of the Year – Austria” at the ITR Tax Awards in London. The team already won the “Tax Disputes Firm of the Year – Austria” award in 2021 and 2022. Last year, the work was crowned with the “Tax Firm of the Year – Austria” award.

“We are particularly proud of the fact that we have been one of the top tax firms in Austria for years and have been honoured twice this year. The awards show that our tireless commitment to excellence is not only recognised in Austria, but also beyond,” says Gerald Schachner, head of the tax group.

Kornelia Wittmann, tax partner, is delighted: “The fact that we have now been honoured by ITR a total of five times in the last four years is a very special success.” Nicolas Wolski, tax partner, adds: “We tax partners are very proud of this team success, which is possible above all because all team members have been contributing to it for years with their outstanding performance. We are therefore particularly pleased that all team members have also been individually ranked by ITR.” 

The International Tax Review, the leading publication for the tax industry, annually honours the most successful tax law firms in the EMEA region (Europe, Middle East and Africa). This year, the ITR Tax Awards were presented for the 20th time. In addition to the size and innovative strength of the law firms, a jury of experts assessed the complexity of the projects handled.

Press release

Paul Pfeifenberger (36) specialises in real estate and has been with bpv Huegel since 2015.

05 September 2024. Law firm bpv Huegel is strengthening its circle of partners in real estate and has appointed Paul Pfeifenberger as a partner.

His focus is on non-profit property developers as well as real estate developers and industrial companies in transactions with project properties and the entire value chain of property development projects.

Paul Pfeifenberger also advises on labour & employment with a focus on corporate transactions, where he also brings a profound practical experience from his previous work in the Organisation of the Chamber of Commerce.

Christoph Nauer, Co-Managing Partner of bpv Huegel, congratulates the new partner: “I am particularly pleased that Paul Pfeifenberger started at bpv Huegel as an associate. He has done outstanding work in recent years and has made a significant contribution to our success. We are delighted that he is now one of the partners in our firm.”

We are pleased to announce that Arthur Braun has been recommended again by Who’s Who Legal (WWL) and is ranked among the top nine competition lawyers in the Czech Republic for 2024!

Congratulations, Arthur, on your repeated and well-deserved recognition!

Through interviews with their researchers, the publication gathers the views, skills and knowledge of leading competition lawyers and economists around the world. The individuals recognized receives the highest number of nominations from peers, corporate advisors, clients and various market sources during WWL’s research period.