AQUILA finalizes the acquisition of Romtec Europa SRL following approval by the Competition Council

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, with 30 years of experience in this industry, obtained the favorable approval from the Competition Council for the acquisition of Romtec Europa SRL ("Romtec") and finalized the transaction with a total value of 3.2 million euros.

Cătălin Vasile, CEO AQUILA:

"We are finalizing our first acquisition since going public and we are pleased to expand the group through the acquisition of Romtec, a company with 30 years of experience in the production of liquids and aerosols for car maintenance. With this initial investment in manufacturing capacity, we aim to contribute to the development of the local industry and diversify our portfolio with products from over 20 brands manufactured in Romania. AQUILA, together with the Romtec team, will continue to develop new products and brands, in line with the business growth objectives announced earlier.”

Florin Miron, former majority shareholder of Romtec Europa:

"Romania can manufacture quality, innovative products, and joining the AQUILA family is the best path for Romtec to reach the next level of growth. Romtec's 30 years of production experience and its innovative capabilities in this market sector, combined with AQUILA's commercial strength, are the optimal ingredients to build a local market leader, and then expand regionally, in the production of liquids and cosmetic products for car maintenance."

In accordance with the acquisition plan, Romtec will continue to operate as a separate entity. In the immediate future, the two organizations will focus on exchanging expertise and resources, aiming to identify all synergies and create valuable common benefits.

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. The company's products are available on the shelves of over 1,000 retail outlets across the country, ranging from major retail chains to border gas stations. The company engages in production and commercial activities in the following areas: manufacturing liquids for car maintenance, in stand-up bag packaging; manufacturing aerosols (sprays) with own products or for third parties; manufacturing wet wipes, and antifreeze manufacturing.

In the first 9 months of 2023 AQUILA recorded growing revenues, driven by its distribution segment, which accounted for approximately 94% of the company's total revenue. The revenues surpassed 1.7 billion lei during this period, marking a 14% increase compared to the same period in 2022. Furthermore, AQUILA achieved a net profit of 70 million lei, representing a 9% growth.

The financial results for the full year of 2023 will be disclosed on February 29, 2024.

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