“We are thinking about acquisitions. The acquisition budget amounts to EUR5 million. The companies we want to acquire are in the area of installations, construction,” Florin Gheorghe, CEO and shareholder of Intermedio General Group, which operates under the brand Theta Furniture, told ZF.
The company operates a factory in Blejoi, Prahova County, where it manufactures custom-made furniture. Last year the company ended with about RON28 million (about EUR6 million) revenue, according to the Finance Ministry’s website.
The company has started the construction of its second factory making custom-made furniture.
“We are building the most modern custom-made furniture production facility, an investment of EUR5 million. The factory is in Paulesti, near Ploiesti; we have invested in technology”.
The new factory will cover 5,000 square meters.
The entrepreneur also says he plans to open new offices in Timisoara, Cluj and Iasi.
Intermedio General Group, which operates under the Theta brand, was involved in a transaction last year in which the investment fund Black Sea Fund took over 50% of the shares, with the remaining shares held by Florin Gheorghe (38%) and Gelu Florian (12%).
(English version by Loredana Fratila-Cristescu)