With this transaction, Romcim adds to its portfolio the Tehno World factory in Baia, Suceava county, specialised in the production of connection solutions for water and sewerage networks, natural gas distribution, irrigation, telecommunications and energy.
In Romania, Romcim has cement factories in Medgidia and Hoghiz, a grinding station in Targu Jiu, as well as a network of cement terminals, concrete mixing stations, nine quarries, five gravel pits and an aggregate warehouse.
TehnoWorld, a Suceava-based company that manufactures polyethylene pipes, increased its revenue by 5% to RON434.4 million in 2023 compared with the previous year. Profit climbed to RON45.5 million and the number of employees increased by about 25 to 233, as per the latest data available on the Finance Ministry website. The products made in TehnoWorld’s facilities are suitable for infrastructure projects, water supply networks, sewage networks, irrigation and waste management.
Ziarul Financiar (ZF) daily wrote in February 2024 that TehnoWorld had been put up for sale, with the process being handled by consultancy firm EY. At that time, neither CRH nor TehnoWorld representatives had confirmed talks on this deal.
Schoenherr advised Romcim on the FDI filing and obtaining merger clearance from the Romanian competition authority in connection with the transaction.
The RTPR team that provided advice on this project was coordinated by Mihai Ristici (Partner), Cezara Urzica (Senior Associate) and Vlad Stamatescu (Counsel), and further included Andrei Tosa (Managing Associate), Serban Halmagean, Flavia Mincu (Associates), George Capota, Irina Marinescu, Maria Luca, Andrei Nicolae, Bianca Cojocaru, Daria Spatariu and David Mirea (Junior Associates).
The Schoenherr team that advised Romcim on competition and FDI matters was coordinated by Georgiana Badescu (Partner) and included Cristiana Manea (Managing Attorney at Law), Sabina Aionesei (Attorney at Law) and Teodora Burduja (Associate).
“We are pleased by this new collaboration with Romcim which marks a new success for our M&A team. We are thus demonstrating once again our ability to manage the most complex M&A mandates. We are honoured to add this achievement to our portfolio, which includes the most important transactions in Romania and the region”, declared Mihai Ristici, Partner of RTPR.
“We are proud to announce the successful closing of this complex acquisition, through which Romcim strengthens its market position. We would like to thank Romcim for their trust and for their excellent collaboration. It was an honour to coordinate this project and I want to thank the entire team for their involvement and hard work. Congratulations to all parties involved in this deal on this outstanding result!”, said Cezara Urzica, Senior Associate at RTPR.
“We are glad to see a new major acquisition made by Romcim successfully closed after having been cleared by authorities following merger control and FDI screening. We are happy to be a trusted partner for the Romcim team. Congratulations to the parties, as well as their external advisors, whose support throughout the authorisation processes was essential”, said Georgiana Badescu (Partner), who led the Schoenherr team that provided legal advice to Romcim on competition and FDI matters.
Romcim is part of the CRH group of companies in Romania, which is the most dynamic in the local construction industry, with over 2,500 employees in total and operating over 50 units nationwide, managed through the companies: Romcim, Elpreco, Ferrobeton, Baulemente, Sapphire and now
TehnoWorld.
RTPR’s Corporate/M&A team is well known for its extended transactional experience. The most reputed international legal directories, Legal 500, Chambers & Partners and IFLR1000, rank RTPR’s Corporate/M&A practice in first tier in the annual rankings for the law firms in Romania.
Schoenherr is a leading regional law firm, with 15 offices in Central and Eastern Europe and South-Eastern Europe. The firm has been active in Romania since 1996, providing full-service legal advice to local and multinational companies.