The Russian Nektorov, Saveliev & Partners law firm has advised the Russian MIR management company -- a subsidiary of the Agency for Strategic Initiatives -- on an investment agreement it entered into with Koltech.
The parties are planning to develop specialized high-tech composite materials. Koltech-KAMA is based in the Russian city of Nizhnekamsk, in the Republic of Tatarstan. It plans to increase its existing production capacity, as well as to create new production facilities, in connection with the new investment. As part of the joint project, Koltech's production of composite products and materials used for installation of high-quality asphalt, liquid and sprayed sports surfaces will be substantially increased.
MIR's investment is financed via a closed-end mutual fund for long-term direct investments called “Modernization Innovation Development.” In addition to the financing, MIR will also provide expert and organizational support for the joint venture, which will also benefit from the resources of the Agency for Strategic Initiatives, MIR’s corporate parent.
MIR is a licensed management company, which manages assets of mutual funds and specializes in financing of Russian small-cap and mid-cap innovative and high-tech industrial projects, especially in the machinery, ecology, biotechnology, composite materials and energy efficiency sectors. The Agency for Strategic Initiatives bought shares of MIR from the MSP Bank in July, 2013. Currently MIR is planning to invest up to RUB 1.5 billion in small-cap and mid-cap industrial projects via debt obligations as well as direct investments.
The Koltech Group is an international group of companies that produce and ship special products, materials, composite materials and modificators, and develop technologies and provide engineering services to the oil and gas, oil refining, chemical, energy, construction and other industries in Russia and the CIS countries.
Roman Velichinski, the general director of MIR, commented as follows: "MIR’s main objective is creation and development, on the basis of the ASI Financial Institute, which will allow us to provide real help to interesting, promising, and innovative projects. This project with Koltech is a good example. We believe that Koltech-KAMA’s management, with the help of the financial and strategic support from MIR, will be able to meet the set milestones as well as all the ultimate objectives."
NSP Partner Alexander Nektorov and Associates Anastasia Savelieva, Ekaterina Znamenskaya, and Nadezhda Minina worked on the deal.
