Banca Transilvania, together with International Finance Corporation and ING, is part of the consortium extending a sustainability-linked financing of over EUR 150 million to the INVL Baltic Sea Growth Fund, to complete the investment in Pehart Grup and support the company’s development.

The transaction between INVL Baltic Sea Growth Fund and Abris Capital Partners, the independent private equity fund that previously owned Pehart Grup, was completed on July 11, 2025.

With a 187-year history, Pehart Grup is one of the largest paper producers in Southeastern Europe. In 2024, the company strengthened its market-leading position by streamlining production, making strategic investments and diversifying its product range.

This collaboration reflects our ongoing commitment to support our clients’ strategic plans and to provide smart financial solutions tailored to their needs in a strategic sector. We are proud to support Pehart in its sustainable growth plan and in its objectives to consolidate its leadership in the regional market.

Cosmin Călin
Senior Executive Director, Large Corporates, Structured Finance and Factoring
Banca Transilvania

With the completion of the transaction with INVL Baltic Sea Growth Fund, we are honored to join the leading private equity fund in the Baltic states and to benefit from its vision and experience. We see this partnership as an opportunity to accelerate our development plans and to strengthen Pehart Grup’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. We thank our partners to date, Abris Capital Partners, for their support in achieving our growth objectives in recent years. We look to the future with confidence and are ready to capitalize on new opportunities together with INVL Baltic Sea Growth Fund.

Gabriel Stanciu
CEO
Pehart Grup

For Banca Transilvania, this financing is part of a long-standing partnership with Pehart Grup and also the beginning of a collaboration with the Invalda INVL fund, an active investor in Romania with a presence in strategic sectors such as renewable energy and forestry.