bpv GRIGORESCU STEFANICA assisted Smart ID and its shareholders in connection with the investment by private equity firm Sarmis Capital27 January 2022
The team of bpv GRIGORESCU STEFANICA advised the shareholders of Smart ID, the leader of the industry of connected, real-time applications for businesses active in the hybrid digital-physical environment, and the company, in connection with the share purchase and investment transaction through which the private equity firm Sarmis Capital acquired a 55% shareholding in the business. Founder and CEO Daniel Boangiu, together with Romeo Iacob, co-founder and Board Advisor, will continue to lead the company into the next stage of growth and expansion.
The investment is expected to fuel the growth of Smart ID, both domestically and internationally, and to transform the company from a successful national business into a “regional champion”.
Our team led by Catalin Grigorescu, Managing Partner, with the support of Tania Hotca, Associate, as well as other associates from the firm’s corporate, commercial and tax practices assisted during negotiations, signing and closing of the transaction.
Daniel Boangiu, CEO of Smart ID, commented: “The way Catalin Grigorescu and his team have supported us throughout this transaction gave us the comfort that our interests as founding shareholders are protected while the terms of the transaction strike a good balance for all parties. The fact that they understand business has made their legal advice relevant in every aspect, and this has contributed greatly to the success of the transaction. I recommend the team to any entrepreneurs who enter a process of attracting investors or selling their business.”
Catalin Grigorescu added: “We take a great deal of professional satisfaction from advising entrepreneurs who want to leave a mark in their industry and grow their businesses into regional or international players. We are very grateful that Daniel and Romeo have trusted our team to advise them on this important phase in their company’s development and in their lives as entrepreneurs.”
About Smart ID
Founded in 2010, Smart ID specializes in providing highly customized end-to-end automation solutions for intensive business environments, primarily to customers in industries such as retail, logistics and manufacturing, with the purpose of optimising costs and increasing productivity. The company has a proven track record of delivering mission-critical, proprietary, tailored solutions across the value chain, from solution design & development to implementation and post-implementation maintenance & support.
About Sarmis Capital
SARMIS Capital is a leading independent private equity fund established in 2019, focused on mid-market opportunities in Central and Eastern Europe. It is the largest private equity fund raised in and dedicated to investing primarily in, Romania and adjacent countries. SARMIS looks to partner with and supports mid-market entrepreneurial companies to prosper and grow, by working closely and collaboratively with their management teams and by contributing substantial strategic, operational and management expertise.