Dentons has advised Cornerstone Investment Management on its financing agreement with Kartesia for the acquisition of biodegradable hygiene product manufacturer Ecowipes Group, including its French affiliate Hydra Beauty & Clean. Wardynski & Partners, working with Stibbe, advised Kartesia.
According to Dentons, following this ESG transaction, the buyers want to create a large group around Ecowipes, which will, among other things, focus on sustainable consumer solutions across Europe. CEE Legal Matters reported on the acquisition itself back in July 2023.
According to Wardynski & Partners, Kartesia is a European specialist provider of capital solutions for small and mid-sized companies. Cornerstone Investment Management is a private equity investor based in Warsaw.
"Ecowipes has three of the most technologically advanced biodegradable nonwovens factories in Europe, two in Poland and one in France," Dentons reported. The company produces wet wipes, cotton buds, and cotton pads mainly under private labels for major retail chains such as Auchan, Biedronka, and Lidl, but also has its own brands: Tami and Rapid Clean.
The Dentons team was led by Warsaw-based Partner Tomasz Zwolinski and Senior Associate Katarzyna Mazur and included lawyers in Paris, Luxembourg, and Amsterdam.
The Wardynski & Partners included Partner Lukasz Szegda, Lawyer Mateusz Tusznio, and Junior Lawyer Sylwia Boguska.