Greenberg Traurig has advised Innova/5 on its sale of an unspecified stake in Pekaes to Geodis in Poland.
Financial details of the transaction were not disclosed.
Pekaes is a provider of delivery chain services, including general cargo and partial load distribution, full truck load forwarding, rail, air, and sea forwarding, distribution of parcel consignments, terminal and bulk goods logistics, arrangement of ferry crossings, and customs services. The company employs over 1,200 people in its 20 branches in Poland, three railway terminals, and six logistic warehouses.
Innova Capital is an equity fund with a commitment to mid-market buyouts. Since its establishment in 1994, Innova has invested over EUR 900 million in over 50 companies across 10 countries in the region.
Geodis is a supply chain operator with a global network spanning 120 countries. In 2019, GEODIS accounted for over 41,000 employees globally and generated EUR 8.2 billion in sales.
According to Greenberg Traurig, “between 2015 and 2016 [the firm] also advised Innova Capital on the indirect acquisition of a majority stake in Pekaes, followed by the purchase of shares from minority shareholders and the subsequent delisting of the company's shares from trading on the Warsaw Stock Exchange.”
Greenberg Traurig’s team included Partner Pawel Piotrowski, Local Partner Anna Halas-Krawczyk, Senior Associates Agata and Anna Wisniewska, and Associate Jakub Tarlowski.
Greenberg Traurig did not reply to an inquiry about the deal.