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AVELLUM advises Cornerstone Partners on acquisition of CoreValue

August 2019 - Corporate & Commercial. Legal Developments by Avellum.

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AVELLUM acted as the Ukrainian legal counsel to Cornerstone Partners, a co-owner of IT Kontrakt, a Polish IT Company, on the acquisition of CoreValue, a US-headquartered IT service provider with Ukrainian roots.

AVELLUM advised Cornerstone Partners on the structuring of the transaction, conducted legal due diligence of the Ukrainian part of the target business and drafted certain transaction documents. Following the acquisition, AVELLUM also advised the client on the complex corporate restructuring of CoreValue group’s business in Ukraine.

Weil, Gotshal & Manges LLP acted as the global legal counsel to Cornerstone Partners.

Cornerstone Partners is a private equity investment firm operating since 2001. Cornerstone invests in private equity transactions in Poland and CEE, with a focus on backing strong management teams to grow and transform their businesses.

IT Kontrakt implements IT solutions and services for business, and offers comprehensive support with building IT systems. Since July 2017, IT Kontrakt has been part of Oaktree Capital Management, one of the leading global private equity funds.

CoreValue is a US-based software and technology services company with development labs across Ukraine and Poland.

The AVELLUM team was led by partner Yuriy Nechayev, with support from associates Dmytro Symbiryov, Yulia Chelebii-Kravchenko, and Daryna Mykhailenko.