212’s investment in 123Form Builder

23 Form Builder, the online form-building software startup, announced that venture capital firm 212 will take up a shareholders’ position

23 Form Builder, the online form-building software startup, announced that venture capital firm 212 will take up a shareholders’ position with a seat on the Company’s board. 212 will join existing shareholders Catalyst Romania and Adrian Gheara, as the Company looks to solidify its presence in the U.S. with the opening of a new office. The size of the investment was not disclosed.

RTPR advised 123FormBuilder and its shareholders Catalyst Romania, Florin Cornianu, and Adrian Gheara.

The RTPR team included Partner Alina Stavaru, Senior Associate Andrei Mihul, Associate Marina Fecheta-Giurgica, and Junior Associate Raluca Marcu.

Hategan Attorneys’ team – legal advisers to 212 – consisted of Managing Partner Ioana Hategan, Senior Associate Florina Mattick, and Associate Alin Tegzes.

An Interview With Ioana Hategan Managing Partner, Hategan Attorneys

What should companies be aware of they are considering an investment?

International companies should be aware that the Romanian companies are still young, when it comes to maturity (they are between five and 15 years old, so to speak), and so it is important to legally proof their history in order to avoid future risks. Romanian managers may have been managing their business in the past 20 years not always taking into consideration objective processes and procedures, and unwanted consequences may arise after the closing of the transaction for the buyer.

How do you make sure an investment is the right one for your clients?

We undertake complex due diligence processes, which usually go beyond analysing technical legal issues. We try to understand the purpose of the client and we also value the culture of the company and their compatibility with the Target, using our experience of 20 years for foreign clients in the Romanian market. We are keen to eliminate all risks that might occur, or mitigate them having not only a legal understanding, but also a business understanding when it comes to balancing risks and practical consequences. We support our clients in the process of negotiation, aiming to contribute with our legal and business knowledge to find the common ground that drives a successful, but also a purposeful closing for all parties involved.

Does this deal reflect the current climate in your jurisdiction? How does the investment scene for 2021 look?

It definitely does. The IT sector is one of the booming sectors in Romania, as we have a lot of intelligence in our country that is interesting for foreign companies looking for creativity and dynamism at still reasonable costs. We expect more transactions in the IT sector in 2021, as well as in the medical and agriculture sector. These are the three sectors that I anticipate will drive the M&A transaction list in Romania this year.

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