CMS advises the Recaro Group on the acquisition of a majority stake Growag

International law firm CMS has advised the Recaro Group on the acquisition of a majority stake in the Grodzisk-based Fabryka Wyposażenia Wagonów “Growag” sp. z o.o.

The German Recaro Group is known for producing aircraft and gaming seats, while Growag is the Polish market leader for the production of passenger seats for rail vehicles. With this transaction, Growag has acquired a strategic partner that will enable its development in Poland and facilitate expansion into new foreign markets and the Recaro Group will expand its product portfolio. This is the Recaro Group’s first investment in the production of seats for rail vehicles since it was founded in 1906.

The scope of CMS's advice included: conducting legal due diligence, supporting in negotiations, and preparing the necessary documentation required to finalise the transaction. The CMS team was led by CMS partner Mateusz Stępień and included Rafał Burda and Jakub Rykowski (all from CMS Poland), with support from Dr. Igor Stenzel from CMS Berlin.

Excalibur Capital and Network Corporate Finance teams also advised Recaro Group on the transaction. CMT Advisory and SSW Pragmatic Solutions advised Growag’s shareholders.