Dentons assisted MGM on acquisition of Rekord group

Dentons assisted MGM on acquisition of Rekord group

Dentons assisted MGM, an Italian conglomerate, on its acquisition of Rekord Group, a leading European manufacturer of technical, sports and outdoor footwear.

The acquisition was concluded through a capital increase executed by the Foglio/Congiu family supported by Clessidra Capital Credit and co-investors SIP, Smart Capital and Brixia Finanziaria, together with the issuance of a bond loan underwritten by Clessidra Capital Credit, BancaIfis, Anthilia Capital Partners and the regional financial company Veneto Sviluppo.

Rekord presently employs roughly 700 people and operates three manufacturing plants in Alba Iulia, Romania. The new group, formed by the combination of MGM and Rekord, intends to be the leading European production pole in the technical outdoor footwear market, with the Foglio/Congiu family holding a majority stake.

Dentons assisted MGM in the legal, corporate and structuring aspects of the transaction with a multidisciplinary and multijurisdictional team led by partner Antonella Brambilla and composed of counsel Silvia Pacchiarotti and Claudio Segna in Milan. Partner Alessandro Fosco Fagotto, managing counsel Franco Gialloreti and associates Flaminia Lucchetti and Matteo Mosca (all Milan-based) handled the banking and finance aspects of the transaction. In Bucharest, partner Loredana Chitu and associate Andreea Predescu advised on the corporate aspects, and counsel Maria Tomescu advised on the banking and finance aspects.