JŠK assisted in closing of major acquisition in energy and environmental consulting
Company: JŠK, advokátní kancelář, s.r.o.
JŠK provided legal advice to KB SmartSolutions, s.r.o. from the Komerční banka, a.s. group on the acquisition of a 100% stake in ENVIROS, s.r.o., including a stake in the UK's ENVIROS GLOBAL LIMITED.
With the acquisition of ENVIROS, s. r. o., Komerční banka has expanded its activities in the field of energy and environmental consulting, which will significantly strengthen its existing advisory position in ESG, energy, energy saving projects and the environment. ENVIROS, s.r.o. has been operating on the market since 2004, not only in the Czech Republic, but also elsewhere in Central and Eastern Europe and other countries around the world. The company cooperates with a wide range of clients from international and supranational institutions, including the United Nations, the European Commission, the OECD, the EBRD, the World Bank and the UNDP. ENVIROS, s.r.o. also plays an important role as an independent advisor for the financing of energy-saving renewable energy projects for a number of major companies in the Central European market.
"We at Komerční banka have long been aware that a sustainable and responsible way of doing business is important not only for us, but also becomes an essential value for our clients," said David Formánek, Member of the Board of Directors of Komerční banka, a.s. "By integrating ENVIROS into KB Group, we will become a clear advisory leader in the field of energy and ESG, as well as the only bank that will be able to provide clients with a complete range of services from consulting to sustainable financing."
The JŠK transaction team was led by partner Roman Kramařík on the buyer's side in cooperation with managing associate Patrik Müller and junior associate Tomáš Král.
"We cooperated with JŠK on a similar transaction for the first time and we were very satisfied," director of KB SmartSolutions, s.r.o., Jiří Přibyl, said about the JŠK team's contribution to the transaction. "We especially appreciate the excellent communication and the practical and proactive approach to the various obstacles on the way to the successful signing and settlement of the transaction. JŠK also managed the role of legal coordinator of the whole project, which required the resolution of legal issues not only in the Czech jurisdiction, but also in the UK, Slovakia and Serbia."
"Money is the lifeblood of the economy and the bank its heart," Roman Kramařík said. "If you had asked me about the integration of banks with consulting firms five years ago, I would certainly have been sceptical, even though the German Energiewende has been a topic since at least 2010. From today's point of view, however, integration with energy consulting is completely understandable and I am convinced that it will help banks and society as a whole. Thanks to it, the banking heart will better help the economy to overcome the energy transition, the real inevitability of which even Václav Klaus would not doubt today."
"I am very pleased that our team was able to provide legal assistance to Komerční banka in the acquisition of ENVIROS and I thank all those involved for their commitment and professionalism, which contributed to the exceptionally smooth running of the entire project," Kramařík added. "Anyone who has ever been involved in an acquisition certainly knows what I'm talking about."
JŠK is a mid-sized law firm providing services for clients in all areas of commercial law, especially in M&A, banking & finance, insurance, construction, real estate and energy. The firm has been operating in the Czech market for more than 18 years, and its clients include respected banks, insurance companies, private equity funds and multinational corporations, as well as mid-sized companies and individual investors.
JŠK is a member of PONTES, a unique network of similarly specialised law firms, which includes firms from Central and Eastern Europe. PONTES members currently operate in Bratislava, Bucharest, Budapest, Prague, Sofia, Vienna and Warsaw.