Early Warning System

Regions

Europe and Central Asia

Geographic location where the impacts of the investment may be experienced.

Countries

Romania

Geographic location where the impacts of the investment may be experienced.

Financial Institutions

European Bank for Reconstruction and Development (EBRD)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Approved

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Jul 2, 2024

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

AROBS TRANSILVANIA SOFTWARE SA

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Communications

The service or industry focus of the investment. A project can have several sectors.

Investment Amount (USD)

$ 41.41 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 38
Converted using 2024-07-15 exchange rate.

Project Cost (USD)

$ 41.41 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 14, 2024

Disclosed by Bank Jul 15, 2024

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The proposed transaction entails an equity investment into AROBS Transilvania Software S.A.'s ("AROBS", the "Company") offering of EUR 38.0 million (RON 189.3 million) (the "Project"). The project primarily aims to support the Company's M&A strategy, establish a regional IT services leader, and enhance AROBS' stock liquidity by increasing its free float.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

Private Actors Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Founded in 1998, AROBS is one of the leading Romanian technology companies, providing custom software development services for various industries such as automotive, marine, aerospace, healthcare, travel & hospitality, enterprise solutions, fintech and others.

AROBS operates from 11 local offices and 9 international branches (United States, Germany, United Kingdom, Hungary, Moldova, Indonesia, Netherlands, Poland and Belgium). The Company employs over 1,200 FTEs and has thousands of customers across 14+ countries. AROBS generated EUR 86.4 million (RON 427.3 million) in revenues in 2023, of which 70% in Europe, 18% in the United States, 11% in Romania and 1% in Asia & the Middle East.

The Company became publicly listed on the AeRO Market (secondary market) of the Bucharest Stock Exchange in December 2021 and transferred to the Main Market in September 2023. Market capitalization was EUR 161.9 million (RON 805.1 million) as of 12th July 2024, and the Company's pre-offering ownership structure included founder and CEO Voicu Oprean (66%) and Cabrio Investment SRL (9%), while the remainder consisted of Treasury shares (3%) and free float (22%).

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	AROBS TRANSILVANIA SOFTWARE SA	Client	-

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No contact information available by the time of the disclosure.

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html