RTPR has assisted private equity fund SARMIS Capital in relation to the acquisition of a majority shareholding stake in Smart ID Dynamics S.A. Established in 2019, the local independent private equity fund SARMIS Capital is dedicated to investments in Central and Eastern Europe, and primarily in Romanian entrepreneurial companies.

bpv Grigorescu Stefanica advised the shareholders of Smart ID, 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 co-founder and Board Advisor Romeo Iacob, will continue to lead the company into the next stage of growth and expansion.

The RTPR team that provided advice on this project was coordinated by Mihai Ristici (Partner) and Vlad Stamatescu (Senior Associate) and further included Andrei Tosa, Cezara Urzica (Managing Associates) and Petrus Partene (Associate). The RTPR mandate covered legal assistance in relation to all phases of the acquisition: due diligence, drafting and negotiation of transaction documents, signing and closing formalities.

bpv Grigorescu Stefanica team was 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. 

Cezar Scarlat, Managing Partner and co-founder of SARMIS Capital, said: “We firmly believe in the impact that technology, through automation and digitalisation, will have in the region’s economic growth and future. Smart ID garnered our attention and convinced us with its strong results, being not just a software integrator but an end-to-end Romanian independent solutions provider, with an ambitious and excellent technical management and execution teams. We envision multiple avenues through which we can tangibly contribute to the company’s expansion. Through the new partnership, Smart ID will fully benefit from Sarmis’ strategic expertise and financial power, having at its disposal EUR 20-30m for organic growth and acquisitions.”

Daniel Boangiu, CEO and co-founder of Smart ID, said: “We are honoured we earned the trust of SARMIS Capital. We believe this deal will make us a formidable player at both local and regional levels. Our responsibility from now on is to make the deal create unmatched value for the company, by adding to the resources that helped us to become one of the most important companies in the industries we are targeting and to our most important asset – our people, a unique combination of experts, new capabilities, new technologies, better processes and, most of all, better solutions for our existing and future customers.