Fadi Rida and Mihai Stanescu, the founders of Global Technical Group, were assisted by law firm Tuca Zbarcea & Asociatii. The transaction was brokered by Trident Capital Investments.
In July 2019, the founding shareholders of the companies within Global Technical Group announced the signing of a contract for the sale of the majority stake towards Abris Capital Partners.
Law firm Clifford Chance Badea provided legal assistance to Abris Capital Partners.
After the acquisition of the majority stake by Abris Capital Partners, the Global Technical Group companies will focus on the regional development of own platforms of integrated technical solutions, on extending their implementation in new sectors, and on continuing the business growth by using the vast technical expertise in design, installation, maintenance and operations.
Global Technical Group is the largest provider of end-to-end solutions for the management of constructions and integrator of technical and security solutions.
Global Technical Group, which comprises six IT companies, of which Global Technical Systems is one of the largest, has a combined turnover of EUR32 million and a net profit of EUR4 million. Global Technical Systems reported a turnover of over EUR13 million in 2018, up 30% year-over-year, its net profit tripled to EUR2 million and staff numbers reached 100.