Squire Patton Boggs’ Warsaw office represented Avallon MBO Fund II in its investment in Novo Tech Sp z.o.o in Poland and its Romanian and Belgian subsidiaries, Grass Tech Srl and Grass Tech Solutions SPRL. Novo Tech was sold to Avallon by the Indian public listed company Time Technoplast Ltd. It is reported to be the largest single investment this year in Poland by a domestic private equity firm.

Avallon is one of the largest private equity houses in Poland. Novo Tech manufactures lifestyle products and automotive component products such as anti-spray flaps. Grass Tech produces commercial sporting products such as astroturf matting and snow sport surfaces in addition to farming solutions.

Michal Karwacki, head of the firm’s private equity & venture capital team in Warsaw, said: “We were delighted to be involved in every aspect of this multijurisdictional deal, from the external financing to due diligence and post-completion planning. With Poland seeing a considerable surge in private equity transactions, Squire Patton Boggs’ strong local connections within the firm’s global platform will be of great benefit to our domestic and international client base.”

The team was led by Michal Karwacki with support from Pawel Magierowski, Malgorzata Olech, Ewelina Witek and Magdalena Jarosz (all Warsaw) and Anthony van der Hauwaert and Thibault Viaene (both Brussels) as well as affiliates from Voicu&Filipescu SCA in Bucharest.