Intrakat considers the Romanian market a top priority
Intrakat Group, an industry leader in Greece's construction, infrastructure, concessions/Private Public Partnerships (PPPs), and waste management sectors, announced today the finalization of the acquisition of Aktor Construction company, which is active in significant infrastructure projects in Romania.
Following a sale and purchase agreement (SPA), announced earlier in the year and the recent approval of the acquisition by the Competition Commission of Greece, Intrakat increases its size and scale to become a leading business Group in Southeastern Europe’s construction sector, dynamically expanding its portfolio in new areas, such as Renewable Energy Sources (RES), Energy Storage, environmental projects, and Real Estate.
With the addition of Aktor, Intrakat will reach a backlog of projects in the pipeline with a total value estimated for the end of 2023 to almost 5 billion euros and at the same time expand its international footprint. Intrakat undertakes complex large-scale construction projects in Greece and abroad, leveraging a network of highly specialized subsidiaries in Southeastern Europe, Romania included.
The Romanian market is considered as a top priority by Intrakat, which is also present in the country. The company’s focus will be to deliver in time and successfully Aktor’s infrastructure projects in the railway and the motorway sectors of Romania.
Alexandros Exarchou, vice-chairman of the Board of Directors and CEO of Intrakat Group, who has a deep knowledge of the Romanian construction industry from the time he served as CEO of Aktor (July 2018 to January 2021), saluted the decision of the Competition Commission of Greece and expressed the commitment to deliver exceptional service in projects’ completion, in the spirit of the group’s vision of becoming a prominent force in Southeastern Europe's construction and infrastructure sectors. Mr. Exarchou will also assume the position of Chairman & CEO at Aktor.
Within less than 12 months since the assumption of Intrakat’s Group management by Mr. Exarchou (following the assumption of the company’s control by Winex investments in July 2022), Intrakat achieved an impressive turnaround regarding profitability at operating level, according to the group’s financial statements for H1 2023 (link to financial report). Robust performance recorded by all segments contributed to strong operating profitability achieved during the period, signalling Intrakat’s solid turnaround and paving the ground for joining forces with Aktor.
The acquisition of Aktor marks a pivotal milestone in Intrakat Group's growth strategy, with its unwavering focus on strategic investments and clear direction expected to drive stable financial flows and establish the Group as a market leader in Southeastern Europe for years to come.
Intrakat Group is one of the leading groups in Greece, with a significant presence in Southeastern Europe. The company is actively involved in various sectors, including infrastructure projects, Public Private Partnerships (PPPs), concessions, Renewable Energy Sources (RES), Energy Storage, real estate development, environmental projects, and digital technologies. Intrakat Group implements a dynamic growth strategy, consistently investing in the expansion of its portfolio activities. The company has been listed on the Athens Exchange since 2001.
Intrakat’s Group main shareholder is Winex Investmets Ltd, controlled by Alexandros Exarchou and Dimitris Bakos and Ioannis Kaimenakis, investors involved in shipping and oil refineries. The same investors (A. Exarchou, D. Bakos, J. Kaimenakis), through the investment vehicle Thrivest Holding Ltd, have also entered the banking sector in Greece controlling Pancreta Bank and being shareholders in Attica Bank as well.
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