ROCA Industry, the holding company that brings together companies in the field of construction materials in the portfolio of ROCA Investments, has signed a contract for the acquisition of a 70% stake in Eco Euro Doors.
The largest Romanian manufacturer of doors for residential construction, with 27 years of experience on the market and over 320,000 units sold in 2021, will thus join the two companies through which ROCA Industry operates - BICO Industries and Sarcom.
"This transaction is in line with ROCA Industry's strategy to develop and scale strong domestic brands in the field of construction materials, both on the basis of a common strategy and through the synergies generated by their activity. With the know-how and resources we already have in this industry, we will work with the EED management team to address the challenges and opportunities ahead of us in order to take the company to the next level. Eco Euro Doors is a well-established player with a strong industry position, a diverse product portfolio and a well-defined business strategy. We are glad that his vast experience will become part of ROCA Industry and we are ready to further grow this Romanian business. According to our plans and objectives, ROCA Industry has a huge potential to contribute to increasing the competitiveness and autonomy of the domestic construction materials industry ", said Liviu Stoleru, CEO of ROCA Industry.
With a turnover of almost 13 million euros in 2021, Eco Euro Doors will continue to grow by introducing new products tailored to the changing needs of consumers, by focusing on the Premium niche and by expanding its customer portfolio and production capacity.
"Today we open the door to a new chapter in the life of Eco Euro Doors and we are happy to join ROCA Industry. We believe in the same values, the need for agility and resilience in business and we share the same confidence in the ability to build a solid future. Through our plans and strategy we have always sought to respond to the changing needs of Romanians and we will continue to develop and diversify our product portfolio at a time favorable to our industry, in which consumers tend to pay more attention and attention to the space in which they live. , said Claudiu Cășvean, founder of Eco Euro Doors.
By concentrating its skills and resources on the field of construction materials, ROCA Industry aims to create common strategies and synergies in the activity of its companies. BICO Industries is the largest domestic manufacturer of fiberglass mesh and fittings and one of the leading manufacturers in Europe, and Sarcom is one of the largest producers of paints and varnishes in Romania.
The transaction takes place in the context of a good dynamics of the door manufacturers sector, estimated in 2020 at a total value of 140 million euros, at local level and with an annual growth rate (CAGR) estimated to reach 6% between 2022-2025. At European level, the projection for this rate is 7%, for the same period, according to Interbiz Research Consulting. At the same time, an advance of 6% is expected on the residential construction sector until 2024, given that, according to Eurostat, Romania is the country with the highest rate of number of homeowners, with no less than 96.8%.
The construction materials holding company Roca Industry will be listed on the AeRO market of the Bucharest Stock Exchange, and the latest investment contributes to the implementation of the company's long-term strategy, that of building a solid structure, consisting of investors, entrepreneurs, specialists in various fields. and dedicated management, with the ability to adapt to any economic conditions.
ROCA Industry groups under the umbrella of a specialized holding company Romanian companies producing construction materials and aims at generating value by implementing a process of consolidation and modernization of Romanian production capacities.