DLA Piper Prague has advised Russian investment fund Trust Union Fund on the acquisition of the South Bohemian machine tool manufacturer Kovosvit MAS from Industry Innovation, a.s. owned by the Czech businessman Jaroslav Strnad. Strnad joined the company as a strategic investor in 2016.
Kovosvit has been an established Czech manufacturer and developer of machine tools since 1939, when it was founded by Tomáš Baťa, and currently exports its products to more than 31 countries around the world. The new owners plan (through Trust Union Fund) to continue developing the company and open new markets for it. The first step in implementing this vision is a contract worth EUR 15 million for the supply of 60 machining centres in the next two years, which were brought by the new owner.
The DLA Piper team Corporate team was led by Country Managing Partner in the Czech Republic, Miroslav Dubovský, assisted by associate Marcel Janíček and junior associate Pavlína Trchalíková. Commenting on the transaction, Miroslav Dubovský, said: “We are delighted to have advised the buyer on this complex transaction, which is also a significant step in the further development of Kovosvit. We are also pleased to work on transactions, such as this acquisition, that will influence the direction of an entire industry.”
This is one of the many significant transactions which the law firm DLA Piper Prague has realized in recent times, which proves, that even in the current economic situation, the market offers plenty of interesting opportunities for both domestic and foreign investors.
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