DLA Piper has advised FIZAN Foreign Expansion Fund on the acquisition by its Recat subsidiary of a minority block of shares in Tesla Recycling from the Elemental Holding group. Elemental was advised by solo practitioner Maria Janicka.
Recat is a German company operating in the processing of used automotive and industrial catalysts.
FIZAN is managed by PFR TFI. According to DLA Piper, “PFR TFI is part of the PFR Group and is fully owned by the Polish Development Fund. It manages more than PLN 8 billion worth of assets and sixteen investment funds, ranging from closed-end investment funds which invest capital in the economy and development of Polish enterprises, through funds focused on foreign expansion projects, to specialized funds like target-date funds. One of the funds managed by PFR TFI is the FIZAN Foreign Expansion Fund which supports Polish companies in investing in their foreign subsidiaries, always as a minority investor, leaving the management of the project to a partner.”
Elemental Holding is a capital group operating in the recycling and trade of secondary raw materials, such as non-ferrous metal scrap, electronic waste, and used catalysts. It operates in 35 countries in Europe, the Middle East, and Africa.
DLA Piper’s team in Poland was led by Partner Jakub Marcinkowski and Associate Jakub Szczygiel. Its team in Frankfurt included Partner Carlos Robles y Zepf and Senior Associate Niklas Mangles.
