Rymarz Zdort Maruta advises Innova Capital on acquisition of majority stake in ProService Finteco and 50% stake in IFDS

We are pleased to announce that we have advised Innova Capital, a fund, on the acquisition of a majority stake in ProService Finteco Sp. z o.o. (“ProService Finteco”), a leading provider of fund management solutions, and a 50% stake in Investment Funds Depositary Services S.A. (“IFDS”), which specialises in brokerage activities and the provision of depositary services for closed investment funds in Poland. The previous owners of ProService Finteco were funds managed by Oaktree Capital Management, L.P. (Oaktree) and Cornerstone Investment Management.

The transaction is an important step in the implementation of Innova Capital’s investment strategy focused on supporting high-growth companies operating in key sectors of the economy. Innova Capital intends to support the growth of both companies by focusing on acquiring new clients, expanding its offering with innovative technology solutions and expanding into the markets of Central and Eastern Europe.

“We congratulate Innova Capital on the completion of another investment. We are grateful to have had the opportunity to participate in such a significant project and to support our client as a legal advisor,” says Jacek Zawadzki, partner in the corporate department of Rymarz Zdort Maruta.

Innova Capital is an independent private equity advisor operating in Poland and investing in mid-sized companies with operations in Central and Eastern Europe. Since its establishment in 1994, Innova Capital has invested more than EUR 1.2 billion in nearly 70 companies located in 10 countries in the region.

ProService Finteco delivers technology-driven services and solutions for investment and pension funds, insurance companies, and banks. The company supports the distribution of financial products and services, providing comprehensive operational and technological support.

IFDS specialises in depositary services for investment funds in Poland. As part of its brokerage activities, the company focuses on receiving and transmitting orders, as well as executing over-the-counter transactions on behalf of investment funds.

The work of the transaction team was led by Jacek Zawadzki (partner). The transaction team consisted of Małgorzata Banaszkiewicz (senior associate), Aleksander Jakubisiak (senior associate), Paweł Mazur (senior associate), Szymon Rutecki (associate), Magdalena Mentrak (associate), and Przemysław Nycz (associate).

The finalisation of the transaction is subject to regulatory approvals, including the approval of the Office of Competition and Consumer Protection and the Financial Supervision Authority for the acquisition of 50% of IFDS shares. Advice on the proceedings to obtain the approval of the Office of Competition and Consumer Protection is provided by a team consisting of Iwona Her (partner), Kamil Bułakowski (senior associate) and Karolina Chudy (associate). Advice in respect of proceedings to secure a non-objection to the acquisition of 50% of the shares in IFDS is provided by Adam Puchalski (partner), Szymon Cieniawski (senior associate), Adam Drgas (associate) and Julia Kosiniak (associate).