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Romania's ROCA Investments acquires further 30% stake in local BICO Industries

Romania's ROCA Investments acquires further 30% stake in local BICO Industries Source: Bico Industries

BUCHAREST (Romania), November 1 (SeeNews) - Romanian investment platform ROCA Investments, part of Impetum Group, said on Monday it has acquired a further 30% stake in local fiberglass mesh manufacturer BICO Industries.

Following the transaction, ROCA Investments owns 60% of BICO, it said in a press release.

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The value of the investment was not disclosed.

"Through this transaction, ROCA consolidates its position in BICO, one of the most important companies in its portfolio and also in a field that we consider to be strategic," Ionut Bindea, investment manager at ROCA Investments, said.

ROCA acquired a 30% stake in BICO in August 2020.

Founded in 2006, BICO Industries employs 240 at its two production centres located in Vaslui and Piatra Neamt.

ROCA was launched in March 2018 and has so far invested in various local companies such as BICO Industries, honey producer and exporter Tremot, shoe manufacturer S-Karp, commercial and industrial cold technology company Frigotehnica, grains trader RDF Arad, railway electrical cables maker Electroplast, chemical company Sinteza, lunch delivery company Yellow Restaurant and port operator Romcargo Maritim.

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