Warsaw, 6 September 2023 – INVL Baltic Sea Growth Fund, the leading private equity fund in the Baltic States and its portfolio company Eco Baltia, the largest waste management and recycling group in the Baltics, relied on the legal expertise of Wolf Theiss with respect to the signing of an agreement to acquire a 70% stake in the largest Polish PVC windows recycler, Metal-Plast.
Wolf Theiss’ team advised INVL Baltic Sea Growth Fund and Eco Baltia on a strategic partnership with Metal-Plast. The transaction is expected to close in Q4 2023, subject to receiving clearance from the Polish Office of Competition and Consumer Protection, as well as fulfilling other conditions precedent.
“Metal-Plast represents the 8th portfolio investment of INVL Baltic Sea Growth Fund. The circular economy remains one of our core investment pillars and we are delighted to again partner with one of the most successful portfolio companies to date in Eco Baltia and Mr. Fedorowicz to further drive Metal-Plast’s exciting growth journey.” says Vytautas Plunksnis, Partner at INVL Baltic Sea Growth Fund and Chairman of the Eco Baltia Supervisory Board.
Wolf Theiss advised INVL Baltic Sea Growth Fund and Eco Baltia with regard to the Polish aspects of the transaction, including among others, the due diligence process, drafting and negotiating the share purchase agreement and the shareholders’ agreement, as well as providing antitrust advice and assistance with obtaining the acquisition financing. Sorainen acted as the Latvian and Lithuanian counsel to INVL and Eco Baltia.
The Corporate M&A team was led by Maciej Olszewski, Counsel, who was further supported by Dominika Getka, Associate, Jacek Michalski, Partner, Marcin Żak, Senior Associate (real estate), Marcin Rudnik, Counsel (antitrust) and Adrian Krzyżanowski, Counsel (financing).
“I’m glad that Wolf Theiss could be a part of this strategic partnership between INVL Baltic Sea Growth Fund, Eco Baltia and Metal-Plast. We are thankful to the INVL Baltic Sea Growth Fund and Eco Baltia for the opportunity to assist in this transaction.” commented Maciej Olszewski, Counsel at Wolf Theiss.