ROCA Industry, the ROCA Investments holding company in the building materials sector, has completed the acquisition of a 70% stake in Eco Euro Doors (EED). With sales of more than €13 million in 2021, EED is the largest Romanian manufacturer of doors for residential construction, in a resilient market, despite the regional context.
“With this transaction we are taking forward our mission to amplify the potential of local companies and develop brands made in Romania. Long-term investments are based on a set of values that we observe, and this is a process we do every time we enter a new company. We believe in the power of partnership and we are deeply involved, both with resources and know-how. At the same time, we have a different approach on risks, with an equally focus on opportunities”, declared Ionuț Bindea, Investment Manager ROCA Investments, Chairman of the Board of Directors ROCA Industry.
By concentrating skills and resources at the holding level, ROCA Industry creates common strategies and synergies between companies in the building materials sector.
Under the roof of the holding company, EED will enter a new phase, and development plans include diversifying the product portfolio, adjusted to the continuously changing requirements of consumers, and approaching new markets.
“We are taking over a solid company with growth opportunity, with a product that, although industrial, comes with an emotional value given by the design it brings to consumers’ homes. It’s important to use advanced technology to deliver products that are at the highest level in a country with a tradition in this sector. We continue ROCA Industry’s mission to reindustrialize Romania by developing and scaling strong local brands“, says Liviu Stoleru, CEO ROCA Industry.
The acquisition of the Romanian door manufacturer, with 27 years of experience in the market and more than 320,000 units sold in 2021, is the second transaction completed in the first part of the year by ROCA Industry.
“In January, at the signing, we said that ROCA opens the door to a new chapter in the life of EED, now we have already moved into this new stage of development. I appreciate the professionalism shown by ROCA and I am confident that under the umbrella of the holding company, the company will reach a new level and have a solid future”, says Claudiu Cășvean, founder of Eco Euro Doors.
Half a year after its foundation, ROCA Industry grouped in its holding company BICO Industries (70%), Sarcom (100%), Terra (100%), Eco Euro Doors (70%) and is in the process of finalizing the transaction for the full takeover of Dial.
ROCA Industry (HOLDINGROCK1) was listed on the AeRO market of the Bucharest Stock Exchange in January this year and is traded under the stock symbol ROC1. It is also included in the BETAeRO index, which includes the most relevant companies in this market.
At the same time, the holding company will be known, starting today, under its new name, ROCA Industry Holdingrock1, which will thus develop the company’s identity.
The most recent estimate for the local door manufacturing sector was a total value of €140 million in 2020, with a CAGR of 6% between 2022-2025, according to Interbiz Research Consulting.
In this transaction, ROCA Industry had been assisted with legal advice by Băncilă, Diaconu and Associates, and on the Eco Euro Doors side the BICF team was involved, in terms of M&A assistance.