DLA Piper advises Daniel Truica and the management team on a roll-over related to Resource Partners’ investment in Vola.ro and FRU.PL

DLA Piper has advised Daniel Truica, one of the founders of Vola.ro and Fru.pl, and management teams in relation to the roll-over and shareholders agreement of the Resource Partners’ investment in Interactive Travel Holdings sp. z o.o. (ITH). ITH is the parent company of Vola.ro, and, Romania’s leading online travel retailer; whilst FRU.PL is one of Poland’s key players in the sector.

Resource Partners is a leading independent, partner-owned, private equity fund investing in small and medium sized companies in Central and Eastern Europe. Under the terms of the transaction, both companies will stay under the leadership of Daniel Truica, who will continue his role as CEO and President of the Management Board. Daniel and the management team remain minority shareholders in ITH.

Rafał Kluziak, partner in DLA Piper’s Corporate practice, based in the firm’s Warsaw office led the transaction. He was supported by senior associate, Michał Bałdowski, associate Jakub Niemiec and junior associate Natalia Potrubacz. The team provided comprehensive legal advice on the roll-over including negotiation of the shareholders’ agreement.

Rafał Kluziak commented: “This transaction will allow Interactive Travel Holdings sp. zo.o. to increase the number of customers it services, whilst still staying true to its value. By allowing Daniel to continue his role on the board, the firm will be well placed for continued growth and expansion. It also shows our strong CEE Private Equity practice.”