TehnoWorld , the leading smooth and corrugated polyethylene pipe manufacturer in Romania, was bought by CRH, one of the largest building material players in the world, employing 78,500 people in 28 countries. EY Romania has advised the founders of TehnoWorld on the sale, while RTPR has assisted Romcim in relation to the acquisition of Tehno World. Schoenherr advised Romcim on the FDI filing and obtaining merger clearance from the Romanian competition authority in connection with the transaction.
During the EY-led process, the Lead Advisory team provided full sell-side M&A assistance, structuring and coordinating the execution of the transaction.
Over the course of 21 years, TehnoWorld, founded in Suceava county, became a market leader in the production of HDPE pipes and a regional champion competitive at the European level. Its integration within one of the largest building material players in the world represents proof of the success of the TehnoWorld business model.
“We are honored to have assisted TehnoWorld in this transaction process and to have had the opportunity to represent and partner with inspiring people. The closing of this transaction is owed to a committed team formed by Cristian Drindea, Razvan Cebuc and Lucian Manea,” said Iulia Bratu, Head of Lead Advisory EY Romania.
Founded in 2003, TehnoWorld is a leading plastic pipe manufacturer specialized in the production of high-density (HDPE), polypropylene (PP) and PVC-U pipes.
Romcim is part of the CRH Group, one of the world’s largest suppliers of building material solutions, holding leading market positions in both North America and Europe. The group is an essential global partner for the execution of projects in utility networks, critical infrastructure, complex non-residential construction, and outdoor landscaping projects. A Fortune 500 company, CRH shares are listed on the NYSE and LSE.
The CRH Group of companies in Romania is the most dynamic in the local construction industry, with over 2,500 employees in total and operating over 50 units nationwide, managed through the companies: Romcim, Elpreco, Ferrobeton, Baulemente, Sapphire, and now TehnoWorld.