Wolf Theiss advises SpringWater on the acquisition of FirstPromoter

Bucharest, 17 September 2025 – Wolf Theiss acted as local counsel for SpringWater, a Lithuanian investment company focusing on product-oriented SaaS businesses worldwide, in connection with its acquisition of FirstPromoter, a leading affiliate marketing platform for subscription-based businesses.

Wolf Theiss Corporate/M&A team, led by Partner Ileana Glodeanu, provided full-scope buy-side legal assistance, including legal due diligence and negotiation of the share purchase agreement and related documentation. Counsel Flavius Florea (TMT) and Senior Associate Delia Dumitrescu (Corporate/ M&A) contributed to the successful completion of the transaction.

SpringWater’s entrepreneur-led model combines the experience of founders who have scaled global, bootstrapped companies with a network of over 3,000 experts across marketing, AI, product and go-to-market strategy. By aligning with founder ambitions and providing patient capital, the firm enables SaaS companies to scale sustainably. SpringWater is actively pursuing further acquisitions across Europe and North America and is currently recruiting for key positions both within its portfolio and internally.

“We are grateful for the exceptional legal guidance provided by Ileana Glodeanu and her team at Wolf Theiss on setting our debut acquisition of FirstPromoter. Their strategic insight, responsiveness and deep understanding of the Romanian regulatory landscape were instrumental in helping us navigate complex matters with clarity and confidence. This acquisition felt natural for us, as the seller’s deep dedication to the product and their vision for expansion perfectly align with our values. With our experience and network, we’re confident this transaction sets the stage for a successful next chapter for FirstPromoter.”

– Justas Paulauskas, CEO of SpringWater

“Since Romania’s technology sector continues to attract strategic investors and remains one of the most promising areas for expansion and innovation, it was a pleasure for us at Wolf Theiss to advise SpringWater on this milestone transaction – a significant chapter in their growth journey. I’m particularly proud of our Corporate/M&A team, whose dedication and expertise played a key role in the success of this acquisition. Each team member contributed meaningfully to delivering strategic value to our client. This achievement underscores Wolf Theiss’ strong capabilities and commercial acumen in supporting visionary companies on their growth, reflecting also a deep sector knowledge.”

– Ileana Glodeanu, Partner, Wolf Theiss