The value of the deal has not been disclosed but IAH funded the acquisition with a loan from Unicredit Bank.
Vio Transgrup was founded 20 years ago by Viorel Angelescu and operated mainly in the Balkans and Greece. In 2014 it entered the valuable cargo transport segment and expanded coverage to Western Europe.
The acquisition makes International Alexander Holding a transporter certified by the Transported Asset Protection Association (TAPA).
“TAPA certification becomes mandatory when approaching more and more new clients and this security management will help us largely eliminate losses generated by unforeseen situations,” said Loredana Apreutese, general manager of IAH.
IAH has over 1,500 employees and offers multi-modal transport services as well as logistical solutions. The company delivers cargo for clients in the automotive industry, IT and FMCG, such as Mercedez-Benz, Heneywell, Samsung or Procter &Gamble.
In 2019, International Alexander Holding had a turnover of more than RON400 million, up 24% on the year, and posted a net profit of RON22 million, according to the most recent finance ministry data.
Vio Transgrup had a turnover of RON150.7 million, up 21% on the year, and a profit of RON10.1 million. The company has 163 employees.