We are pleased to announce that Rymarz Zdort is advising the shareholders of Grupa Inelo S.A. (“Inelo”), comprising Innova Capital, European Telematics Holding and a group of individual minority shareholders, on a transaction involving the sale of 100% of the share capital of Inelo to W.A.G. payment solutions a.s. (“Eurowag”).
The transaction, which will result in the acquisition of Inelo, a leading provider of fleet management solutions and driver time management software in Poland and Slovenia, significantly increases Eurowag’s scale of operations and its ability to deliver a fully integrated, one-stop digital platform for customers in the commercial road transport sector.
The preliminary agreement was concluded on 24 October 2022. The transaction is valued at over €300 million and its completion is subject to the approval of Eurowag’s shareholders and the relevant regulatory authorities. The transaction is expected to close in the first quarter of 2023.
“We would like to congratulate Innova Capital on securing another home-run exit by selling Grupa Inelo to Eurowag. We are pleased to once again have been given the opportunity to participate in such an important project and to support our client as legal counsel” – said managing partner Paweł Zdort.
Innova Capital is an independent private equity advisor, operating from Poland and investing in majority buyouts in mid-sized enterprises with activities in CEE. From its the inception in 1994, Innova has invested close to EUR 1.2 billion in almost 70 companies located in 10 countries in the region.
Inelo is an international leader in providing technological solutions for heavy duty transport in the CEE/SEE region. The company operates in 16 European markets and has equipped the TSL sector with digital GPS solutions and driver time analysis and calculation software for the past 20 years.
W.A.G. payment solutions, trading under the name Eurowag, is a leading pan-European integrated payments and mobility platform focused on the Commercial Road Transportation industry.
Rymarz Zdort provided comprehensive transactional assistance. The advisory team comprised managing partner Paweł Zdort and partner Jacek Zawadzki, who were supported by associates Monika Michałowska and Michał Lulka.
Monika Kierepa, a partner in the Corporate/M&A department, coordinated the work of the team conducting the vendor due diligence investigation of Grupa Inelo, which team included: Marek Kanczew (counsel), dr Barbara Skardzińska (senior associate) as well as Justyna Niezgoda, Kamil Kłopocki, Kamila Banaś, Lidia Bronicka, Marcin Banak, Marta Szczepkowska, Agnieszka Wójcik, Szymon Marciniak (all: associate).