AQUILA announces the signing of a purchase-sale pre-agreement for the first planned acquisition

AQUILA (symbol AQ), the market leader in the field of integrated distribution and logistics services for consumer goods in Romania and the Republic of Moldova, announces the signing of a purchase-sale pre-agreement for 100% of the shares of Romtec Europa SRL (Romtec). The pre-agreement represents a step in the company's development strategy through M&A.

Romtec, a Romanian company with 30 years of experience in the production of liquids and aerosols for car maintenance, has a portfolio of over 20 brands developed in Romania, including Jet Xpert, Clima Xpert, and Brake Xpert, and owns a production facility in Iași.

Cătălin Vasile, CEO AQUILA:

"The company's development strategy includes both organic growth, as well as through mergers and acquisitions. We have taken a first step that aligns with our objectives and the strategy of complementing our portfolio with complementary, domestic products, as we announced at the time of listing. In addition to distributing new products, with the completion of the Romtec Europa transaction, we will take over production facilities, contributing to the development of the Romanian industry. We approach the mergers and acquisitions topic from a broad perspective, considering the target company's market, and profitability, as well as the synergies we can create with our current operations. We will continue in the direction we have committed to for the successful completion of multiple acquisition transactions in the coming period."

The transaction will take place subject to the completion of a specific audit by specialized firms and obtaining the necessary approvals from the Competition Council. The total value of the transaction is EUR 3.2 million, from which the existing debts at the date of the signing of the shares purchase agreement will be deducted.

Romtec Europa SRL is currently owned 80% by Green Ideas Group MTC SRL and 20% by FLM Group Green MTC SRL. At the end of 2022, Romtec had 47 employees, a turnover of RON 25 million, and a net profit of RON 1.3 million.

In the first six months of 2023, AQUILA recorded revenues of RON 1.1 billion, a 17% increase compared to the same period in 2022. This significant growth was primarily driven by the increase in revenue from the distribution segment, which accounts for over 90% of the total turnover. The company's net profit reached RON 42 million, representing a 29% increase.

The results for the first 9 months of 2023 will be published on November 13, 2023.