A major player in the private equity market in the Baltic region, the INVL Baltic Sea Growth Fund, announced on Monday, July 14, that it has completed the investment in Pehart Group, a leading producer of household and industrial paper products in Romania, a deal valued at EUR 150 million.<\/p>\n
With a 187-year tradition, Pehart Group is one of the largest paper manufacturers in Southeast Europe with a portfolio ranging from toilet paper, paper towels, napkins, and other hygiene paper products to jumbo rolls, used in the converting process into paper products for household and industrial use.<\/p>\n
In 2024, the Pehart Group generated revenues of EUR 165 million and employed nearly 550 people across its companies, after diversifying its products.<\/p>\n
\u201cWe are excited to back the Pehart Group management team in bringing the company to the next level, and we will support significant investments into expansion of Pehart\u2019s manufacturing capacities and add-on acquisitions in the region, strengthening Pehart Group\u2019s market leadership and driving its next phase of growth,\u201d said Vytautas Plunksnis, Partner at INVL Baltic Sea Growth Fund.<\/p>\n
Pufina, one of the most popular tissue paper brands in Romania, Alint, Altessa, and SOVIO, the Away-from-Home products division, are part of the Pehart Group portfolio.<\/p>\n
\u201dWe see this partnership as an opportunity to accelerate our development plans and strengthen Pehart Group\u2019s position as a regional leader in the paper products industry. We will continue to invest in cutting-edge technologies, diversify our product portfolio, and expand our presence in international markets,\u201d added Gabriel Stanciu, CEO of Pehart Group.<\/p>\n
Equity for the deal was provided by the INVL Baltic Sea Growth Fund and some of its investors, co-investing via INVL BSGF Co-Invest Fund II. The International Finance Corporation, a member of the World Bank Group, has led the syndication of over EUR 150 million financing package for Pehart Group.\u00a0<\/p>\n
\u201cFinalizing the acquisition of Pehart Group marks a key milestone for the INVL Baltic Sea Growth Fund, completing a value-driven portfolio of ten companies across the Baltics, Poland, and Romania, with one already successfully exited,\u201d commented Deimant\u0117 Korsakait\u0117, Managing Partner at INVL Private Equity Fund II and INVL Baltic Sea Growth Fund.<\/p>\n