Dentons assisted the Italian company MGM in the acquisition of Rekord group, a leading European manufacturer of technical, sports and outdoor shoes.
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.
Rekord currently employs approximately 700 people and has three production plants located in Alba Iulia, Romania. 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.
Dentons assisted MGM in the legal, corporate and structuring aspects of the transaction with a multidisciplinary and multijurisdictional team led by partner Antonella Brambilla and composed of counsel Silvia Pacchiarotti and Claudio Segna in Milan. Partner Alessandro Fosco Fagotto, managing counsel Franco Gialloreti and associates Flaminia Lucchetti and Matteo Mosca (all Milan-based) handled the banking and finance aspects of the transaction. In Bucharest, partner Loredana Chitu and associate Andreea Predescu advised on the corporate aspects, and counsel Maria Tomescu advised on the banking and finance aspects.
