ROCA Industry raises 50 million lei from investors and intends to float on the stock exchange at the beginning of 2022

Mihai-Alexandru Cristea 17/12/2021 | 16:43

ROCA Industry (stock symbol ROC1), a construction materials holding, which brings together all the companies in the ROCA Investments portfolio in this sector, announces the successful and early closing of the private placement for its shares, raising 50 million lei from investors. The holding company’s shares will float on the AeRO market of the Bucharest Stock Exchange at the beginning of next year. The private placement was brokered by BT Capital Partners, while Cornerstone Communications assisted the company as an Authorized Advisor. The law firm Filip & Company assisted ROCA Industry on legal matters.

 

Considering that the capital market is no longer enjoying the exuberance specific to this year, the success and purpose of this private placement confirm that investors continue to be interested in a project that mixes an attractive business model, a successful management team, and a correct assessment of the entry price. We are happy and motivated by this success, which at the same time, holds us responsible. We are grateful to all those who have expressed their confidence in investing together with us in this project. The commitment of the management team refers to the dedication, transparency, and long-term thinking,” stated Rudolf Vizental, CEO of ROCA Investments.

ROCA Industry is the first construction materials holding that will come to the AeRO market of the Bucharest Stock Exchange. Moreover, it is the first strategic project of ROCA Investments, which brings together under the umbrella of a specialized holding, Romanian companies producing construction materials. ROCA Industry currently comprises BICO Industries, the largest domestic manufacturer of fiberglass mesh and fiberglass fittings and one of the largest manufacturers in Europe and Sarcom, one of the largest manufacturers of paints and varnishes in Romania.

The holding company intends that in the next three years, through organic development and M&A consolidations with other companies in the same field, to have in its composition 10-12 complementary companies that will allow the generation of synergies. Regarding the selection criteria, the considered companies must be entrepreneurial, with a turnover of over 40-50 million lei and an EBITDA percentage of 15-20%.

During the private placement that started on December 10, 2021, a total of 4,500,000 shares were sold to investors for 10 lei per share. 120 individual and professional investors participated in the placement. The offer was early closed on 16.12.2021 and oversubscribed, the investors placing orders totaling 49,962,120 lei.

“In recent years, the construction materials sector has had a dynamic activity both on the local market and internationally. We are glad that we had the opportunity to collaborate with ROCA Investments in the process of preparing ROCA Industry for the listing on the AeRO market of the Bucharest Stock Exchange and that we end 2021 with a new private placement successfully closed. At the same time, we are thrilled to see Romanian companies, such as ROCA Industry, planning not only to grow successful businesses but also to build a foundation on which to develop the entire Romanian economy,” stated Daniela Secara, CEO at BT Capital Partners, the investment banking and capital markets division of Banca Transilvania, that intermediated ROCA Industry’s private placement. 

ROCA Industry has a management team of specialists in construction materials, which will ensure the operation and development of the holding company but will also consider creating an entrepreneurial culture based on partnership within its teams. Liviu Stoleru, an executive with over 20 years of experience in various construction materials industries, will be the CEO of ROCA Industry starting next year. At the same time, the management team of ROCA Investments will be involved in the strategic coordination of ROCA Industry.

The capital raised from the private placement will fuel the development of existing companies through which they carry out their commercial activity and the transactions necessary for the consolidation of new companies. The holding company aims to become the leading local supplier for the main chains of DIY stores in Romania. In this regard, ROCA Industry plans to use a part of the funds raised to implement the business strategy of existing and future holding companies.

ROCA Industry’s vision is designed for the long term and aims to generate value by implementing a process of consolidation and modernization of Romanian production capacities. In time, the holding project will increase the competitiveness of the domestic industry and reduce the dependence on imports while having a significant positive impact on the Romanian economy as a whole.

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