Romanian holding ROCA Industry aims to add cable maker ELECTROPLAST to its portfolio
ROCA Industry (ROC1), the first Romanian holding of construction materials companies, aims to integrate ELECTROPLAST, one of the largest cable manufacturers and leader of the cable market electricity for the railway infrastructure, to its portfolio.
The shareholders of ROCA Industry will vote on the transaction in June, together with the increase of the companies’ capital by a maximum of RON 150 million and the transfer of ROCA Industry from the AeRO market to the main market of the Bucharest Stock Exchange.
ROCA Industry aims to acquire a 99.99% stake in ELECTROPLAST. This involves a transaction worth approximately EUR 9 mln from ROCA Investments, the private equity company that owns ELECTROPLAST.
With over 30 years of experience in the manufacture of copper and aluminum electrical cables, ELECTROPLAST registered a turnover of RON 134 mln in 2022, a 47% increase compared to the previous year. It also saw an EBITDA of RON 10 mln and a net profit of RON 3 mln.
“ELECTROPLAST is one of the companies with regional prospects that we want to integrate into the ROCA Industry holding company, along with the other seven companies that it owns directly or indirectly. This intention is part of the plan to continue the strategic construction of our industrial holding, of consolidation and accelerated development, through the acquisition of new companies and the creation of added value around them, through synergies and joint tools. We intend to become a landmark for the Romanian industry and economy in which, through a future listing on the main market of the Stock Exchange, ROCA Industry can reach the position of a first league player,” said Ionuț Bindea, CEO of ROCA Industry, in the press release.
The ROCA Industry holding company, founded in September 2021 and listed in January 2022 on the AeRO market of BVB, aims to tap into new sources of capital by moving to the main market. The company aims to attract new institutional investors and build international exposure, allowing it to scale its activities at the European level.
In the first quarter of this year, ROCA Industry companies reported a cumulative turnover of RON 95.4 mln, up 0.4% compared to Q1 2022, while in 2022 ROCA Industry reported cumulative revenues of almost RON 400 mln. At the holding level, ROCA Industry recorded a financial income of RON 2.6 mln RON, with a net profit of RON 1.3 mln in Q1 2023.
ELECTROPLAST (SC ELECTROPLAST SA), established in 1993 in Bistrita, is a company with over 30 years of experience in the manufacture of copper and aluminum electrical cables and a leader in the market of electrical cables for railway infrastructure.
(Photo source: ROCA Industry)