Firmo’s Acquisition of Staples

Morais Leitão advised Staples, while SRS Advogados advised ActiveCap Capital Partners on the deal.

The investment by ActiveCap I – Portugal Growth Fund in Firmo involved the acquisition of a shareholding of 35% by the capitalisation of Firmo for the purpose of supporting the acquisition by Firmo of the business of Staples in Portugal.

ActiveCap I – Portugal Growth Fund is a Private Equity fund dedicated to financing expansion and optimisation projects of Portuguese companies and supporting the growth potential and execution of international growth projects.

Firmo was founded in 1951 and has a factory in Vila Nova de Gaia and two cash & carry stores (in Lisbon and Porto), exporting part of its production into 23 countries, as well as an e-commerce channel. The acquisition by Firmo of the business of Staples in Portugal, controlled by Cerberus since 2017, results in a Portuguese paper and office materials group with an annual turnover of approximately €100 million and close to 800 employees.

The SRS Advogados team advising ActiveCap was led by Private Equity & Venture Capital partner Gustavo Ordonhas Oliveira (Picture) and included senior associate Marco Garrinhas.

The Morais Leitão team advising Staples was led by partners Jorge Simões Cortez and Gonçalo Fleming as well as senior lawyer Vasco Stilwell d’Andrade.

Involved fees earner: Gonçalo Fleming – Morais Leitao Galvao Teles Soares da Silva; Jorge Simões Cortez – Morais Leitao Galvao Teles Soares da Silva; Vasco Stilwell d’Andrade – Morais Leitao Galvao Teles Soares da Silva; Gustavo Ordonhas Oliveira – SRS Advogados; Marco Silva Garrinhas – SRS Advogados;

Law Firms: Morais Leitao Galvao Teles Soares da Silva; SRS Advogados;

Clients: ActiveCap Capital Partners; Staples;

Author: Federica Tiefenthaler