Oresa Ventures buys stationery business RTC Proffice in Romania

Swedish investment fund Oresa Ventures has acquired Romanian stationery company RTC Proffice Experience from investor Octavian Radu. The deal also involved a re-scheduling of the Romanian company's bank debt. The value of the deal was not announced.

RTC Proffice Experience posted a turnover of EUR 28 million last year and a loss of EUR 1.2 million, according to data from the Finance Ministry. “Because of the crisis, I could not support Proffice financially to its true capacity. For the RTC group, this deal means a drop in debt of over 25 percent, following our strategy started in 2010,” said Romanian investor Octavian Radu. Oresa Ventures owns several other companies in Romania – construction materials producer Somaco, paint maker Fabryo and Kiwi Finance. The investment fund usually invests between EUR 10 and EUR 20 million in a company. RTC group had several of its companies under reorganization in 2010 and 2011, like bookstore chain Diverta, TCE Logistica, Fashion Retail group and Sebra Francize. Corina Saceanu, corina@romania-insider.com