Teilor Holding is a group of companies including luxury jewelry store chain TEILOR, Teilor Invest Exchange and financial lending company Invest Intermed GF IFN.
The capital attracted from investors, of RON45 million, will be used for the accelerated development of the three businesses in the group, respectively for the expansion of the network of TEILOR jewelry stores in Romania and Europe, but also for increasing the number of new agencies operating under the umbrella of Teilor Invest Exchange and Invest Intermed GF IFN. The two issues of TEILOR bonds, in lei and euros, are traded on the Multilateral Trading System under the stock tickers TEI26 and TEI26E.
“This year, Bucharest Stock Exchange was the financing option for a number of 25 entrepreneurial companies that listed bonds, as well for 23 companies that choose to go public through private placements or IPOs. TEILOR is one of these companies, with a history of 20 years started in Pitesti. Today TEILOR lists corporate bonds of RON 45mn, the largest issues of a company on the Multilateral Trading System. I wish them a warm welcome and good luck,” said Radu Hanga, President of the Bucharest Stock Exchange.
“Today’s listing marks an important milestone for TEILOR Holding. Today, an entrepreneurial dream that started 20 years ago is embarking on an ambitious international expansion journey. Our goal over the years has remained constant – to always care for our customers, offering a personalised experience and remarking ourselves with a quality product and unparalleled attention to detail. Thanks to the capital offered by the Bucharest Stock Exchange, these TEILOR values will be now offered to clients across Europe. The future of TEILOR is bright, and I would like to use this opportunity to thank, on behalf of the TEILOR Holding management team, our amazing TEILOR team, which consists of over 700 employees who each day deliver to our clients the unique TEILOR experience. I also want recognise our partners for their continued support and partnership in building our business. Finally, and most importantly, a brand without customers is nothing but a dream. Therefore, I want to thank all TEILOR customers who have helped us grow organically over the last 20 years, for their loyalty and trust, and I want to assure them that they will always remain at the heart of our business,” said Florin Enache, founder of TEILOR Holding.
The two private placements, one in lei and another in euros, were carried out in November 2021, with the participation of 139 investors. The company issued 140,035 corporate bonds in lei with a nominal value of RON100 per bond, a five-year maturity and a fixed interest rate of 8.25%. The euro-denominated corporate bonds have a nominal value of EUR100 per bond, a five-year maturity and a fixed interest rate of 5.75%. The private placement and the listing were made with the support of BT Capital Partners, while Cornerstone Communications will assist TEILOR Holding as Licensed Advisor after listing.
“Our mission at BT Capital Partners is to work with visionary Romanian entrepreneurs to finance their development plans. With a remarkable brand built over the last 20 years, supported by a team of over 700 professionals, TEILOR is one of Romania’s most prominent entrepreneurial stories. We are thrilled to have partnered with TEILOR Holding and raised capital for the company’s inaugural corporate bonds issuance on the Bucharest Stock Exchange’s AeRO market, and we look forward to continuing, together, this journey on the Romanian capital market,” said Daniela Secara, CEO at BT Capital Partners.
TEILOR Holding was established in 2021 and brings together all businesses of Romanian entrepreneurs Florin and Geanina Enache. TEILOR Holding is controlled by Florin Enache (with a 93.1% stake) and Geanina Enache (6.9%). On June 30, 2021, the company part of TEILOR Holding had 497 employees in Romania and abroad.
In 2020, the three companies had a combined turnover of RON192.2 million, an EBITDA of RON41.1 million and a net profit of RON30.6 million. Between 2018 and 2020, the combined turnover grew by 35.5%, due to the strategy of expansion and development implemented at the level of the three companies.
In the first half of 2021, the companies part of TEILOR Holding had a combined turnover of RON121.4 million, up 84% on the year. In the first half of 2021, the EBITDA stood at RON21.4 million and the net profit at RON13.8 million.