Italy’s SOL buys 70% of Romania's MedAir – deal advisor

The deal was signed and closed on 21 March 2024, Wolf Theiss Romania said in a press release last week.

SOL Group carried out the acquisition via its fully owned subsidiary AIRSOL S.r.l. The value of the deal was not disclosed.

Wolf Theiss provided legal assistance to AIRSOL during all stages of the transaction, including due diligence, FDI approval and negotiation of the documents required for the successful signing and closing of this transaction.

"This is a landmark transaction for AIRSOL, since this acquisition represents the group’s first direct entry into the Romanian Home Care market and reflects the company’s commitment to growth and expansion across Europe," Wolf Theiss Romania noted.

In a separate statement published earlier on its website, SOL Group said that MedAir, founded in 2016 by Catalin Batrinu, who serves as CEO, recorded a rapid development of the business all over the country, becoming one of the Romanian leading operators in the home respiratory care local market.

In 2023 MedAir reported a total turnover of 2.4 million euro ($2.6 million), with a staff of 36 employees.

After the closing of the deal, Catalin Batrinu is still owning 30% of the shares and will continue to run the company as managing director.

Last summer, SOL and another Italian technical, industrial and medical gas producer, SIAD, announced a joint production project in Croatia.

($ = 0.923 euro)