Baker Tilly Legal Poland, TPA Poland and Baker Tilly TPA advised Tri Star Technology Group on the cross-border acquisition of Sprick Rowery sp. z o.o., combined with the company’s restructuring process.
The transaction involved Tri Star Technology Group’s acquisition of 100% of the shares in Sprick Rowery sp. z o.o. – a Polish bicycle manufacturer linked to Prophete’s e-bike segment and Woom children’s bicycles – together with the acquisition of key real estate assets necessary for maintaining manufacturing operations.
The project had a cross-border dimension and was carried out in the context of insolvency proceedings conducted before a German bancruptcy court. Key elements of the transaction included arrangements with financial creditors, debt restructuring and the development of solutions enabling the continued operation of the business. The successful completion of the transaction made it possible to avoid the liquidation of Sprick Rowery sp. z o.o., preserve its manufacturing facility and maintain jobs. The acquisition provided the company with a stable strategic investor, enabling its continued operation within the e-bike value chain. Through the transaction, Tri Star Group strengthened its presence in Central Europe and expanded its manufacturing capabilities in the bicycle sector.
Baker Tilly Legal Poland provided comprehensive legal advice, including:
- conducting due diligence,
- structuring the transaction,
- preparing, negotiating and finalising transaction documentation,
- representing in negotiations with the consortium of creditor banks,
- advising on legal risks related to insolvency proceedings and restructuring processes conducted in Poland and Germany,
- preparing documentation related to the release of security interests, as well as supporting negotiations with financing institutions.
The Baker Tilly Legal Poland team included:
Grzegorz Gajda, Managing Partner,
Dominika Sawicka, Managing Associate,
as well as:
Krzysztof Rubas, Counsel,
Joanna Jędrzejewska, Counsel,
Emilia Drzazgowska-Bzdok, Senior Associate.
TPA Poland advised on the tax aspects of the transaction, including tax due diligence. The team was led by Wojciech Sztuba, Managing Partner, with support from Alicja Kornosz, Manager and Mateusz Radziszewski, Senior Consultant.
On behalf of Baker Tilly TPA, Maciej Krokosiński, Partner, and Paweł Bobrowicz, Manager, were involved in the financial due diligence.
Tri Star Technology Group is an international industrial group with manufacturing and technology operations across Europe, North America and Asia.
