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Holmbergs’ Swedes transfer part of the Hungarian and Lithuanian production to Romania, following the recent acquisition of the Te-Rox Prod factories controlled by Doina Cepalis, reports Mediafax.
The Swedish group Holmbergs, specialized in the production of security solutions for car passengers, will move part of its production from Hungary and Lithuania to Romania, following the recent acquisition of Te-Rox Prod, a company founded 13 years ago by Doina Cepalis.
According to Ziarul Financiar, Romania thus becomes, through the Te-Rox Prod factories in Paşcani, Roman and Ruginoasa, the central production center of the group, from where the products will reach the markets of Europe, USA. and Asia, the region with the fastest growth lately.
“The sale to Holmbergs creates the premises for the development of the brand that we founded in 2007 and that today is a very well organized industrial platform. Holmbergs found in Te-Rox Prod the right partner for the development of production in Europe because we have the resilience structure they were looking for to implement the expansion strategy. I am sure that the transaction opens up new development prospects and I am pleased that the Swedish partners are moving the center of gravity of production in Romania ”, explains Doina Cepalis, who will continue to play a fundamental role in the company, being the Romanian commercial manager of the group. and hold a position on the Board of Directors as a shareholder.
After a year of preliminary discussions, the negotiation and due diligence process between Te-Rox Prod and Holmbergs began in April 2020 and ended with the signing of the acquisition agreement on November 20, 2020.
“I am even more satisfied with the success since the negotiations were carried out in the middle of a pandemic. It was a due diligence process carried out exclusively online for the first time, without visits to factories,” adds Doina Cepalis.
When it was launched in 2007, Te-Rox Prod had a turnover of 250,000 euros for the sale of covers and safety solutions for child car seats. One year later, the turnover amounts to 4 million euros, so in 2009 it will be 11 million euros, propelling it to the position of European leader.
The Swedish group Holmbergs was founded 80 years ago in Halmstad and offers safety systems for more than 13 million child seats annually. The company is controlled 73.2% by the investment fund FSN Capital, which manages assets of 2,100 million euros.
Publisher: Liviu Cojan
