DLA Piper in Poland advised the shareholders on the sale of shares in IOW Group to Axel Johnson International AB. The completion of the transaction was subject to merger control clearance, which was issued by the President of the Office of Competition and Consumer Protection on 26 July 2017.

DLA Piper lawyers supported the clients during the due diligence process, drafting and negotiating the transaction documents, and handling all the registration proceedings during the course of the transaction. The sale concerned the shares in both companies in Poland (IOW Trade sp. z o.o. and IOW Service sp. z o.o.) and in Bulgaria, while the subsidiaries, which were sold indirectly, are located in Czech Republic and Lithuania.

IOW Group is a leading CEE group of companies specializing in the distribution and servicing of industrial equipment. It operates in Poland, Bulgaria, Czech Republic and Lithuania. IOW Group was established in 1993 and has a long-term relationship with its customers and suppliers all over the world.

Axel Johnson International is a privately owned Swedish industrial group of more than 90 companies in 25 countries, with combined annual sales of €750 million. It drives its business development and growth through a long-term approach to ownership in strategic niche markets, primarily technical components and solutions for industrial processes.

The DLA Piper team representing the sellers was led by Corporate partner Marta Frackowiak, and consisted of Magdalena Nasilowska, counsel and Piotr Szczecinski, associate, both from the Warsaw Corporate team. The M&A team was supported by Jacek Gizinski, partner, and Agnieszka Lehwark, senior associate (real estate matters), Bartosz Matusik, partner, and Aleksandra Kozlowska, senior associate (tax matters), and Dominika Nowak, associate (employment matters).