ROCA Investments becomes a shareholder in BICO Industries
Source: Ionuț Bindea, Investment Manager of ROCA Investments
ROCA Investments, part of Impetum Group, joins the shareholders of BICO Industries, the leader in the fiberglass mesh market in Eastern Europe and the largest domestic producer of fiberglass fittings. With an estimated market share of 35% nationally and 5% in Europe, BICO already enjoys good regional credibility for a leading position and meets all the highest quality standards for the products offered.“With BICO Industries we move to the next level; it is a company with international scaling prospects and an admirable advance in the European market, to which it already directs 28% of total production. BICO Industries can and deserves to earn for Romania the prestige of being the country of origin for top technical textiles. We will work together to become one of the top 3 players in Europe in the fiberglass industry. We bring to this partnership our investment experience accumulated in companies that are national leaders in their fields ", said Ionuț Bindea, Investment Manager of ROCA Investments. BICO Industries is a financially stable and profitable company, and the management combines in an optimal mix the experience and the expertise with the innovation, in spectacular results in the sector in which it operates. With the involvement of ROCA Investments, a 5-year investment plan is validated, meant to increase the company's production capacity and profit almost 3 times. Moreover, in the context in which the turnover in the industrial sector decreased considerably, and although it was forced to freeze its production activity during April 2020, BICO Industries registered in 2020 an increase of 5% of the comparative EBITDA result. with a similar period last year. "I have a good feeling that makes me believe that we are at the beginning of a successful and fruitful relationship. When I say that, I rely on that kind of compatibility that I have felt since the beginning of the discussions between us and the members of the ROCA Investments team. We expect the experience and determination of our management team, combined with the proven performance over time, the professionalism and vision of our partners to create the necessary synergy for a success story. We consider this moment as a validation of the competencies of the BICO Industries team by entering the elite of the local business ", said Mihai Bîrliba, majority shareholder of BICO Industries. BICO Industries is the leader in the fiberglass mesh market in Eastern Europe. Its main products are fiberglass mesh for reinforcing and reinforcing thermosystems and gypsum plating, as well as corners (both metal and plastic) with mesh, sold mainly under its own brand, Hitrom, both on the Romanian market and from abroad. Turbotex, the newest BICO Investments production line, recently opened in Piatra Neamț as a result of an investment of over 1.5 M EUR, is fully automated and integrated. Through the two work points it has, the company has complete production capacities: warping lines, weaving lines, knitting lines and dressing lines. The Turbodex line allows the production of complex materials, respectively: double nets, insulated nets with felt, laminated nets with aluminum foil, and more.
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