Major Romanian insolvency house teams up with investment funds

Romania’s largest insolvency specialist CITR, distressed asset investment fund ROCA and tech startup investment fund ROCA X, all of them having common founding members, will team up under same umbrella named Impetum Group to capitalise on synergies, announced Andrei Cionca, one of the founders of the three entities, who will be the CEO of Impetum.

“Impetum Group is the sum of everything we have created and developed so far. It is bringing together and synergizing under the same umbrella all the initiatives that we have developed in parallel over the last 20 years, in order to maximize the value of any business, regardless of the stage of development. A solid economy needs healthy businesses, capital, adaptation to global trends in technology and brave and well-trained entrepreneurs and managers. By bringing together the CITR, ROCA and ROCA X brands and generating synergies, Impetum Group will impact more than the sum of companies and so we will be able to really contribute to strengthening the Romanian economy,” said Andrei Cionca.

Impetum Group aims to become a resource hub, which maximizes business value by bringing together business knowledge specific to each of the three stages of a company's life (startup, growth crisis, distress), capital, synergies and crossovers between complementary businesses, and a community of managers and entrepreneurs eager to participate actively in strengthening the entrepreneurial culture in Romania. The group will also launch a foundation that will carry out educational programs for managers and entrepreneurs.

Impetum Group currently has a capital of EUR 40 million through its companies, a value that it aims to triple in the next 5 years.

ROCA X is an investment fund for start-up businesses in the technology area. Its business portfolio includes Milluu, MedicAI, PatchAI and yeParking.

ROCA is a private equity solution for businesses in difficulty. It has completed eight transactions (takeovers), out of the 150 companies analyzed.

CITR is the main player in the local insolvency market.

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