Noerr has advised Work Service S.A. on the PLN 178.6 million sale of all its shares in Exact Systems companies to funds managed by Cornerstone Partners and Oaktree Capital Management, L.P. Crido Legal assisted Exact Systems Management Board members Leslaw Walaszczyk and Pawel Gos, and Weil, Gotshal and Manges office advised both Cornerstone Partners and Oaktree Capital Management on the acquisition.
Upon closing of the transaction Work Service will be repaid inter-company loans. The total value of the transaction will be approximately PLN 200 million.
Exact Systems is a supplier of quality control solutions that provides services for companies from various sectors of economy, in particular in the automotive industry.
The Noerr team was led by Partner Jakub Lerner and included Associated Partner Ludomir Biedecki, and Associates Wojciech Nowosad, and Mateusz Slodczyk from the Warsaw office, Partner Alexander Israel and Senior Associate Jan Moritz Lang from the Brussels office, as well as Associate Partners Maurice Seche and Ulrike Sommer from Dusseldorf office.
The Weil team was led by Partner Pawel Zdort and included Senior Associate Marek Maciag and Associate Aleksandra Kabac.
Credo Legal did not reply to an inquiry about the deal.