Of the EUR10 million, EUR5 million represents a loan and the other EUR5 million represents an option of the EBRD to buy stocks from Aquil founders, at an exercise price agreed in advance.
Aquila Group, held by Catalin Vasile and Alin Dociu, operates in the field of distribution and logistics. The largest company of the group is Aquila Part Prod Com, which joined the club of billionaires in lei in 2020, after a 57% increase in turnover.
Aquila was established in 1994 and currently has more than 3,000 employees, operating both on the Romanian distribution market and in the Republic of Moldova.
In the summer of 2021, Aquila completed the integration of temperature-controlled food distribution business Agrirom, following the merger by absorption of the two. Prior to the transaction, Agrirom was controlled by Raul Balanescu (85% of the shares), Veronica Pop (5% of the shares) and Gabriel Puiu (a 10% stake). In 2020, Agrirom has almost 250 employees and revenue of RON236 million, per finance ministry data.
“The financial package agreed upon with the EBRD will allow Aquila to fund the consolidation and expansion of its portfolio of own brands, to invest in automating its warehouses, implementing a new ERP system, as well as for other working capital needs and investments. These projects will enhance the coverage of Aquila own brands, will boost the productivity of warehouses and will increase the general level of digitalization of company’s operations”, according to representatives of the two parties.