Romania's Aquila to buy Romtec for 3.2 mln euro

The transaction, worth 3.2 million euro ($3.42 million), will be completed following an audit and after obtaining regulatory approvals from the competition authority, Aquila said in a press release.

Catalin Vasile, CEO of Aquila, said the company plans to make more acquisitions in the future.

Romtec was esthablished 30 years ago and is currently owned 80% by Green Ideas Group MTC and 20% by FLM Group Green MTC. At the end of 2022, Romtec had 47 employees, revenue of 25 million lei, and a net profit of 1.3 million lei ($279,860/261,570 euro).

Founded in 1994, Aquila provides integrated distribution and logistics services for consumer goods in Romania and Moldova. The company has a product portfolio of over 10,000 products. In the first half of 2023, Aquila’s net profit rose 29% to 42 million lei.

1 leu = 0.20 euro