Linklaters advises Triton Partners and Flokk Group on the acquisition of Profim from Innova Capital
Daniel Cousens and Klaudia Królak led the Warsaw team
Linklaters has advised Triton Partners, a leading European investment firm and Flokk Group, on the acquisition of Profim, one of the leading manufacturers of office chairs in Poland and Eastern Europe. As a result of the transaction, both Innova Capital, one of the leading private equity funds in the CEE, and the remaining shareholders of Profim, acquired new shares in Flokk in exchange for their existing shareholdings in Profim. Funds advised by Triton remain the majority owners of Flokk, while the current owners of Profim, Innova Capital, together with two founders, will be minority shareholders.
The Linklaters Warsaw team provided comprehensive legal advice and support to Triton Partners and Flokk Group, covering all Polish legal aspects of the deal. The Warsaw team was managed by Daniel Cousens (partner, corporate/M&A) and Klaudia Królak (managing associate, corporate/M&A) and supported by Jakub Woźniak (senior associate, corporate/M&A), Magdalena Szewczyk (associate, corporate/M&A), Maciej Ficiński (junior associate, corporate/M&A), Marta Domino (managing associate, banking & finance), Maciej Chęciński (associate, banking & finance), Małgorzata Szwaj (partner, competition) and Wojciech Podlasin (senior associate, competition).
Triton’s funds invest in and support the positive development of medium-sized businesses headquartered in Europe, focusing on businesses in the Industrial, Business Services and Consumer/Health sectors. The 36 companies currently in Triton's portfolio have combined sales of around €13.2 billion and more than 89,000 employees.
Flokk Group is a market leader in the design, development and manufacturing of office furniture in Northern Europe and the owner of the HÅG, RH, Giroflex, BMA, Offecct, Malmstolen and RBM brands. Flokk products are sold in over 40 countries worldwide. In 2017, Flokk posted a turnover of NOK 2 billion.
Profim is a market leader in Poland and one of the leading manufacturers of office chairs in Eastern Europe. For over more than 25 years, the company has created close to 100 chair lines in collaboration with designers specialised in office furniture. Profim is located in Turek, Poland.
Innova Capital is one of the leading private equity funds in the CEE region and invests in the medium-sized enterprises segment. From its establishment in 1994 until today, the Innova Capital fund has invested over EUR 700m in 50 businesses from 10 countries in the region. In 2010, Unquote magazine awarded the title of ‘CEE Fund of the Year’ to Innova Capital.