Distressed assets manager ROCA takes over Romanian cable plant

The ROCA Investment and Management Platform, formed by CITR insolvency group and several local entrepreneurs with the purpose of restructuring and developing companies in distress, took over Electroplast Bistrita, a Romanian manufacturer of electric cables for railway infrastructure, becoming its largest shareholder.

ROCA took over Electroplast from Italian Cable Company SPA, a manufacturer of power cables and electrical wires for industrial applications.

Electroplast reported RON 82 million (EUR 18 mln) revenues in 2018 and expects a turnover of RON 90 mln this year.

ROCA has also invested in local firms Frigotehnica, S-Karp, Eco Clima Industrial, and Tremot. The platform has obtained a yield of 260% on the investments made in the first year of operations and reached EUR 22 mln in assets.

The local entrepreneurs contributing to the ROCA platform include Dan Şucu, the owner of the Mobexpert group, Adrian and Dragos Paval, the owners of DIY chain Dedeman, and Valer Blidar, the owner of rolling stock producer Astra Vagoane Arad.

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