Nestor, Nestor Diculescu Kingston Petersen (NNDKP) has advised the TVH Group on its acquisition of 100% of the shares in Industrial Access SA, a premium provider of equipment rental services in South Eastern Europe, from the Balkan Accession Fund (BAF), a private equity fund advised by Axxess Capital, and Stefan Ponea, founder and CEO of Industrial Access. Sole practitioner Gabriela Assoum Predescu advised the sellers on the transaction, which is conditional upon obtaining the approval of the Romanian Competition Council.
The 4,900 employees of the family-run TVH Group serve more than 20,000 customers in 170 countries worldwide, with subsidiaries and branches in 30 countries. The group has two main areas of operations: the sale and distribution of spare parts for materials handling, industrial equipment, and agricultural tractors and machinery, and the rental of access equipment.
Industrial Access is a largest independent powered access rental company operating in Romania, Bulgaria, and Moldova, and it owns a premium rental fleet across multiple equipment families such as aerial work platforms, earth moving and compaction, fence and accommodation, power, air and water equipment and small construction equipment. In 2007, Ponea joined with BAF. It has been reported that he will continue to work with the company for at least three more years, and that the acquisition includes the rental management software systems that Ponea developed for the firm.
The NNDKP team was led by Partner Ruxandra Bologa and included Senior Associate Anca Mihailescu and Associate Ioana Vieru. Lawyers Alexandru Onuta and Mihaela Ioja from the firm's Tax Advisory Services department provided advice on tax issues.
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