Elevate buys Casia Communications from Marius Ghenea and partners

Local indoor advertising firm Elevate has bought a fellow local indoor media firm, Casia Communications, from Romanian entrepreneur Marius Ghenea and his two partners in the business.

Elevate bought the entire share package. Casia Communications was started in 2007 as part of a TV program featuring entrepreneurial ventures, where Ghenea financed the project and received a stake in the company in return.

The other two investors in the project were Simona Opris and Carmen Vornicelu. This is the second such move for Elevate in recent times, after it joined Sugar Media in forming Indoor Partnership. The owner and founder of Elevate is Romanian entrepreneur Tudor Maxim. “For us, the purchase of the network of mirrors owned by Casia is part of our business development strategy and continues the steps we started through the acquisition of Chic Media, an indoor network in hair salons, and also the formation of Indoor Partnership,” said Maxim.

The local indoor advertising market was worth around EUR 5.5 million last year, according to the Media Fact Book.

Otilia Haraga

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