Romanian owner to sell child car seats business to Swedish group
Swedish group Holmbergs Safety Systems is reportedly in talks to buy Te-Rox Prod, one of Europe’s biggest child car seat producers, from its Romanian founder and owner, Doina Cepalis.
The deal involves a 100% stake after Cepalis previously confirmed plans for the sale of a minority stake, Profit.ro reported.
The Swedish group has factories in Europe, Hong Kong, USA, and China and annual sales of over EUR 40 million, while Te-Rox’s sales hit EUR 30 mln.
The share transfer will take effect only after the expiration of the opposition term and the fulfillment of the other legal conditions.
In October 2019, Ziarul Financiar reported that Cepalis hired consultancy firm PwC to find a financial investor to help her develop the baby car seat production business.
At that time, she was planning to sell a minority stake to an investment fund.
The entrepreneur owns the Te-Rox group of companies that produce car seats for children, mostly for export.
Te-Rox group consists of three companies that manage four production units in the eastern part of Romania (in Neamt, Iasi, and Botosani counties).
In the past, the group had six plants but had to close some of them due to the scarce workforce.
(Photo: nomadsoul1/ Dreamstime)