bpv GRIGORESCU STEFANICA advised the shareholders of Smart ID, the leader of the industry of connected, real-time applications for businesses active in the hybrid digital-physical environment, and the company, in connection with the share purchase and investment transaction through which the private equity firm Sarmis Capital acquired a 55% shareholding in the business. Founder and CEO, Daniel Boangiu together with co-founder and Board Advisor Romeo Iacob, will continue to lead the company into the next stage of growth and expansion.
The investment is expected to fuel the growth of Smart ID, both domestically and internationally, and to transform the company from a successful national business into a "regional champion".
Our team led by Catalin Grigorescu, Managing Partner with the support of Tania Hotca, Associate, as well as other associates from the firm’s corporate, commercial and tax practices assisted during negotiations, signing and closing of the transaction.
Daniel Boangiu, CEO of Smart ID, commented: “The way Catalin Grigorescu and his team have supported us throughout this transaction gave us the comfort that our interests as founding shareholders are protected while the terms of the transaction strike a good balance for all parties. The fact that they understand business has made their legal advice relevant in every aspect and this has contributed greatly to the success of the transaction. I recommend the team to any entrepreneurs who enter a process of attracting investors or selling their business.”
Catalin Grigorescu added: “We take a great deal of professional satisfaction from advising entrepreneurs who want to leave a mark in their industry and grow their businesses into regional or international players. We are very grateful that Daniel and Romeo have trusted our team to advise them on this important phase in their company’s development and in their lives as entrepreneurs.”
About Smart ID
Founded in 2010, Smart ID specializes in providing highly customized end-to-end automation solutions for intensive business environments, primarily to customers in industries such as retail, logistics and manufacturing, with the purpose of optimising costs and increasing productivity. The company has a proven track record of delivering mission-critical, proprietary, tailored solutions across the value chain, from solution design & development to implementation and post-implementation maintenance & support.
About Sarmis Capital
SARMIS Capital is a leading independent private equity fund established in 2019, focused on mid-market opportunities in Central and Eastern Europe. It is the largest private equity fund raised in and dedicated to investing primarily in, Romania and adjacent countries. SARMIS looks to partner with and supports mid-market entrepreneurial companies to prosper and grow, by working closely and collaboratively with their management teams and by contributing substantial strategic, operational and management expertise.
About bpv GRIGORESCU STEFANICA
bpv GRIGORESCU STEFANICA is a business law firm with a full-service offering for complex projects and litigation and a unique combination of legal and tax advisory capabilities. Founded in 2006 the firm is known internationally for its focus on the Technology sector and its practice in areas such as Corporate, Mergers & Acquisitions, Taxation, Employment & Benefits, Procurement, Concessions & PPPs, Medical services, Energy and Infrastructure. bpv GRIGORESCU STEFANICA team is mentioned continuously among the recommended law firms by the most prominent international legal publications such as Chambers & Partners, Legal 500, IFLR1000, ITR World Tax.
Recent corporate transactions advised on by our firm include:
• Advising Supernova on the acquisition of six shopping center businesses from Louise Delhaize Group;
• Advising MassMutual on the acquisition of a 1 GWh portfolio of renewable energy projects;
• Advising the private equity fund Black Sea Fund on the acquisition of a majority interest in the toys manufacturing company D-Toys;
• Advising participants in the MBO of the largest business travel agency Happy Tour;
• Advising Draper Esprit on its EUR 60M lead Series B investment in FintechOS.
bpv GRIGORESCU STEFANICA is a founding member of bpv Legal, an alliance of independent business law firms with offices in Bratislava, Brussels, Bucharest, Budapest, Prague and Vienna, offering cross-border legal advisory services.