ZRVP Advised CEECAT Capital in the Takeover of Modulo Cluj

Law firm Zamfirescu Racoți Vasile & Partners (ZRVP) advised private equity & private credit investment firm CEECAT Capital in the takeover procedure of the majority stake in the target company Modulo Decorative Solutions based in Cluj, the leading player in stone veneer wall cladding solutions in Southeastern Europe.

The aquisition process was finalized at the end of December 2021 and the multidisciplinary team of lawyers that handled the mandate was formed of professionals specialized in mergers and acquisitions, corporate law, labour law, real estate, environmental law, and intellectual property. ZRVP rendered legal assistance and representation services throughout the trasaction, starting with structuring the transaction and due diligence of the group companies, regulatory legal services, drafting, negotiating and signing of the transaction documentation, closing.

The team of lawyers was coordinated by Anca Danilescu (senior partner) and benefited from the involvement of Lidia Trandafir (managing associate) and Alexandra Nania (senior associate). Alina Cristea (senior associate) and OOana Marinescu (senior associate) were also part of the team that provided legal assistance.

"It is a joy and a professional challenge to have been part of a successful transaction in a market that doesn't always offer the certainty that the projects started can be completed. The variety and complexity of the legal issues we faced, as well as the excellent collaboration with our client throughout the transaction are, for us, the real gain of this mandate", said Anca Danilescu, senior partner of ZRVP.

Acording to CEECAT representatives, the investment fund intends to support Modulo to become a regional player and to dedicate resources in order to achieve its growth potential via automated production capacity increases and add-on acquisitions in strategic locations, coupled with distribution channel diversification and increase in the sales force.

CEECAT made a first investment in Romania in 2014, from a previous investment fund, namely in the brick producer Brikston Construction Solutions Iaşi, sold in 2018 to an Austrian strategic investor.