ROCA Industry, the holding company that brings together the construction materials companies in the ROCA Investments portfolio, announces that its subsidiary Bico Industries is in advanced negotiations with SmartTech AG, a company incorporated and organized under the laws of Switzerland, for the acquisition of 77.5% of the share capital of Iranga Technologijos.
The value of the transaction is 4 million euros, subject to the successful completion of the due diligence analysis and the possible approvals of the relevant institutions.
Iranga operates on the technical and construction textiles market, offering solutions based on a complex range of technologies for the production of glass fiber fabrics and composite materials through fabric lamination, an activity similar to one of the business lines owned by Bico.
“The acquisition of Iranga is in line with the Company’s strategy and its development plans. This will support the diversification of the markets where the holding’s companies are present, all of which contribute to the creation of added value around them, through synergies and common tools,” ROCA Industry reports.
“The acquisition, made under the umbrella of our holding company, will contribute to increasing our presence in this segment and at the same time to reaching new markets. We are happy to see common values in two companies located far away, one in Romania, the other in Lithuania, and we believe all the more in synergies and long-term partnerships, especially in the current international context, one that is not without challenges “, said Ionuţ Bindea, Investment Manager ROCA Investments, President of the Board of Directors and Acting Director General of ROCA Industry.
“Through the investments we make, we aim to develop our production capabilities, innovation and sustainable, long-term growth. If at the beginning of the year, through the acquisition of the Terra company, we managed to consolidate our market share at the EEA level for the production of glass fiber mesh for thermosystems, this time, through the Iranga transaction, we want to develop another line of business, one that addresses a B2B customer sector in which we have been active since 2019. On a personal level, the scaling of this activity sector has a special significance and since 2019, when I took over the implementation and development of this business line, I started the process of profiling the market by studying the activity of the Iranga company. Now, we will unite the resources of the two organizations, both tangible and intangible, to achieve the common objective: the development of innovative solutions for the reinforcement of construction materials, thus transforming all cultural barriers into competitive advantages”, declares Adrian Butuc, General Director of Bico Industries.
In January, Roca Industry, which is part of ROCA Investments, was listed on the Bucharest Stock Exchange (BVB) on the AeRO market, and attracted 45 million lei from capital market investors. The company then communicated that the amount raised will be used for the development of the holding’s current subsidiaries, but also for the acquisition of other companies in the construction materials industry with the aim of becoming the main local supplier for the main DIY store chains in Romania.
Currently, ROCA Industry includes the companies BICO Industries, the largest domestic producer of fiberglass mesh and fiberglass reinforcements and one of the most important manufacturers at European level, Sarcom, one of the largest producers of paints and varnishes from Romania and Eco Euro Doors, the largest Romanian manufacturer of doors for residential constructions, with 27 years of experience on the market, Terra (100%), and expectations are that by the end of the year the full takeover of Dial will be completed , but also of Iranga (77.5%).