Dentons has advised Italian footwear manufacturer MGM on its acquisition of the Rekord Group in Romania. Italy's Advant Nctm reportedly advised Clessidra Capital Credit and co-investors SIP, Smart Capital, and Brixia Finanziaria on supporting the acquisition.
The Rekord group is a manufacturer of technical, sports, and outdoor shoes. Rekord currently employs approximately 700 people and has three production plants located in Alba Iulia, Romania.
According to Dentons, “the acquisition was completed through a capital increase executed by the Foglio/Congiu family supported by Clessidra Capital Credit and co-investors SIP, Smart Capital, and Brixia Finanziaria, as well as the issuance of a bond loan underwritten by Clessidra Capital Credit, Banca Ifis, Anthilia Capital Partners, and the regional financial company Veneto Sviluppo. The new group, which is the result of the integration of MGM and Rekord – in which the Foglio/Congiu family will hold a majority stake – aims to become the leading European production pole in the technical outdoor footwear market.”
The Dentons team was led by Italy-based Partner Antonella Brambilla and included Romania-based Partner Loredana Chitu, Counsel Maria Tomescu, and Associate Andreea Predescu, with further lawyers in Italy.
