Baltics private equity fund INVL Baltic Sea Growth Fund has completed the acquisition of Pehart Group, a leading producer of household and industrial paper products in Romania.
The consortium of International Finance Corporation (IFC), Banca Transilvania and ING Bank Romania provided an over €150m financing package with a significant sustainable linked component to fund the transaction and further development of Pehart Group.
The transaction with Abris Capital Partners, the independent private equity fund that previously held Pehart Group, was completed on 11 July.
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.
In 2024, Pehart Group strengthened its position on the market through production efficiency and strategic investments, diversifying its product portfolio with new launches such as the SOVIO brand, targeting the AfH sector, and expansion into international markets. In 2024, it reported revenues of €165m.
Vytautas Plunksnis, Partner at INVL Baltic Sea Growth Fund, said: “We are excited to back Pehart Group’s management team in bringing the company to the next level, and we will support significant investments into expansion of Pehart’s manufacturing capacities and add-on acquisitions in the region strengthening Pehart Group’s market leadership and driving its next phase of growth.”
Gabriel Stanciu, Chief Executive of Pehart Group, added: “We see this partnership as an opportunity to accelerate our development plans and strengthen Pehart Group’s 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.”
