Djingov, Gouginski, Kyutchukov & Velichkov (DGKV) advised Mundus Services AD (Mundus) on the acquisition of 100% of the capital of VM Automation EOOD – a wholly-owned subsidiary of Bulgaria’s VM Finance Group and a market leader in the field of building automation and control, domestic and industrial air conditioning, refrigeration, ventilation, and uninterruptible power supply. Currently the deal seeks regulatory approval from the Commission for Protection of Competition (CPC).

The legal work on this project included transaction structuring and generation of transaction documents, SPA drafting, assistance in the negotiation process, closing formalities and CPC notification. The law firm’s M&A team was led by Partner Stephan Kyutchukov, assisted by Senior Associate Valentin Bojilov, while Partner Nikolai Gouginski and Associates Vladislav Antonov and Simeon Vachev currently handle the competition clearance.

Mundus, which became Bulgaria’s largest corporate structure in the field of facility management after it acquired Facility Optimum Bulgaria and cleaning services firm Viki Komfort 2004 in 2016, is a joint venture of Empower Capital investment fund and the Finnish-based investment firm KJK Capital. The acquisition of VM Automation will add technical capabilities to Mundus’s portfolio, thus it will be able to provide its clients fully-integrated facility services. The concentration will not lead to the establishment or strengthening of a dominant position on the facility management market.