Deloitte Romania assisted Adrem Group in the acquisition of Electroechipament Industrial Group
A multidisciplinary team of financial and tax consultants from Deloitte Romania and mergers and acquisitions lawyers from Reff & Associates | Deloitte Legal assisted the entrepreneurial Adrem Group, an important player in Romania’s energy services market, in the acquisition of Electroechipament Industrial Group (EEI), a Romanian company specialized in the design, execution and commissioning of energy infrastructure. The transaction was approved by the Competition Council and the Commission for the Examination of Foreign Direct Investments.
The Deloitte team provided financial and tax due diligence and assisted the client throughout the entire transaction, including project management services. The financial consultants who contributed to the success of the project were Radu Dumitrescu, Advisory Partner-in-Charge, Vlad Bălan, Director, Marina Nicola, Assistant Director, Oana Plătică-Vidovici, Senior Manager, Ionuț Grigoraş, Manager, Laurențiu Popescu and Marc Nedera, Senior Associates, and Vlad Mureșan, Associate. From the tax services practice, the project team included Laura Bobar, Director, Ana Bica, Manager, Ștefania Samson, Senior Consultant, and Roberta Roman, Consultant, Deloitte Romania. Legal assistance throughout the transaction was provided by lawyers specialized in commercial law and mergers and acquisitions Georgiana Singurel, Partner, Ștefan Cărămidă, Counsel, Elena Costescu and Andra Câmpeanu Senior Associates, Denisa Pîrvu, Associate, and on competition and regulatory matters, by Andrea Grigoraş, Counsel, and Diana Ivan, Senior Associate, Reff & Associates | Deloitte Legal.
“We appreciated the professionalism and support of the Deloitte and Reff & Asociații teams throughout this transaction. By acquiring EEI, we bring together the expertise of two Romanian entrepreneurial organisations with experience in energy infrastructure, strengthening Adrem Group’s ability to manage and deliver complex projects, while also supporting its next phase of growth,” said Corneliu Bodea, Adrem CEO.
"Our involvement in this project was the natural continuation of the partnership started many years ago with the Adrem Group, during which we witnessed the constant growth of the group's businesses and the strategic decisions that supported this evolution. Through the acquisition of EEI, a transaction that contributes to strengthening the entrepreneurial environment in Romania in an extremely dynamic and competitive field, that of energy, the two companies reconfirm the commitment they have undertaken to continue their growth, providing customers with innovative and sustainable products and services," said Radu Dumitrescu, Advisory Partner-in-Charge, Deloitte Romania.
The founders of EEI and the current management team will remain involved in the management of the company following the completion of the transaction, in order to ensure the continuity of business and relationships with employees, customers and partners.
Adrem is one of Romania’s largest privately owned energy services groups, with 34 years of industry experience, 1,600 employees and nationwide operations. Through three companies with complementary expertise - Adrem Invest, Adrem Engineering and Adrem Link -the group provides solutions and services for the energy sector, serving distribution operators, energy producers, suppliers and consumers.
Electroequipament Industrial is a Romanian entrepreneurial company, with more than 220 employees, specialized in the design, execution and commissioning of electrical stations and networks, industrial automation and electrical installations and it serves operators in the energy sector, industry and infrastructure.
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Deloitte Romania is one of the leading professional services organizations in the country providing, in cooperation with Reff & Associates | Deloitte Legal, services in audit, tax, legal, consulting, financial advisory, risk advisory, business processes as well as technology services and other related services, through 3,500 professionals.
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