Rymarz Zdort Maruta advises Sanok Rubber Company S.A. in connection with PFR TFI’s investment in Teknikum-Yhtiöt Oy

We are pleased to announce that we provided legal support to Sanok Rubber Company S.A. (the “Company”) in connection with the signing of an investment agreement with PFR TFI-managed Fundusz Ekspansji Zagranicznej 2 FIZ AN (the “Fund”) concerning Teknikum-Yhtiöt Oy, based in Sastamala (“Teknikum”), a Finnish subsidiary of Sanok Rubber Company S.A.

As part of the transaction, the Company will dispose of 30% of its shares in the share capital of Teknikum to the Fund, which operates, inter alia, in the business of manufacturing specialised industrial hoses and solutions to protect industrial equipment against wear and corrosion.

On the basis of the investment agreement, at a certain time after its conclusion, Sanok Rubber Company S.A. will be entitled to an option to repurchase the shares from the Fund, and the Fund will be entitled to an option to sell the shares to the Company. The closing of the transaction was made conditional on the fulfilment of certain conditions precedent, including obtaining the approval of the Ministry of Economic Affairs and Employment.

Sanok Rubber Company S.A. is a European leader in the production of rubber products, rubber-metal products and combinations of rubber with other plastics. It is a manufacturer of rubber compounds that are used in the automotive, construction, agricultural, pharmaceutical and white goods industries.

Fundusz Ekspansji Zagranicznej 2 FIZ AN is one of two specialised foreign expansion funds managed by PFR TFI. Their aim is to co-finance foreign investments of Polish partners.

The transaction team consisted of Paweł Zdort (managing partner), Aleksandra Kabać (counsel) and Magdalena Kos (paralegal).

Advice as to Finnish law was provided by the transaction team of Finnish law firm Castrén & Snellman, consisting of: Karlo Siirala (partner), Freja Väyrynen (senior associate) and Noora Koskinen (associate).