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Maravela | Asociatii Advises Standex on Acquisition of Romanian Branch of Piazza Rossa

Maravela | Asociatii Advises Standex on Acquisition of Romanian Branch of Piazza Rossa

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Maravela | Asociatii has assisted Standex International Corporation with its first investment on the Romanian market: the acquisition of the Romanian branch of the Piazza Rossa Group. Other firms advising Standex on the transaction, which closed at the beginning of August, included Italy's Sinescu & Nazat, Mondini & Resconi law firm and Lazzari Law Firm.

According to Maravela | Asociatii, the Piazza Rosa Group, which was founded in 1983 near Venice, Italy, "has market leading capabilities in polishing, laser welding, laser hardening, laser cladding and repair/maintenance services. Piazza Rossa Group operated three facilities: one in Italy, one in Romania, and one in Mexico." According to the firm, Standex, which was founded in 1995 and currently employs over 5,400 people world-wide, "holds 12 operating units, organized into five reporting segments: Food Service Equipment Group, Engraving Group, Engineering Technologies Group, Electronics Group, and Hydraulics Group." The Romanian subsidiary of Piazza Rossa acquired by Standex will be folded into its Engraving Group. 

A Maravela | Asociatii team coordinated by Managing Partner Gelu Maravela and including Tax Partner Felix Tapai and Of Counsel Stelios Savva provided assistance on all tax-related aspects of the transaction, including tax-related due diligence and U.S. GAAP reporting of all Romanian jurisdiction tax records.

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MPR Partners | Maravela, Popescu & Roman is an internationally recommended and repeatedly awarded Romanian law firm providing integrated legal, tax advisory and insolvency services in all areas of interest for businesses and public administration. 

MPR Partners | Maravela, Popescu & Roman covers all major Romanian regions as well as the Republic of Moldavia, either directly or through carefully selected and closely coordinated correspondent offices. In addition, the firm has the infrastructure required to coordinate advice in multiple countries through highly reputed international networks of specialists ensuring high end services. 

Firm’s clients (multinational corporations, sound Romanian companies, private investors, public authorities and State companies) recommend MPR Partners | Maravela, Popescu & Roman as “A reliable team providing a high standard of work.” (quote by Chambers and Partners), having consistently endorsed the outstanding quality of services provided, flexible approach, responsiveness as well as the friendly working climate. 

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