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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.

Romanian Knowledge Partner

Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

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