The founders of Dedeman, the Paval brothers, have acquired a solar park project in Vaslui through their electricity production company, Grunman Energy
Grunman Energy has fully purchased the developing company of the park, Zen Agriculture SRL, from its former sole partner, Adrian Bahrim. Zen Agriculture is developing a solar park with an installed capacity of 5 MW, located in Ciocani commune, Vaslui County, on a plot of over 8 hectares. Grunman Energy, wholly controlled by Paval Holding, was established in the summer of 2022 primarily for operating solar power plants installed on the rooftops of Dedeman’s logistics centers across the country. At the end of last year, Paval Holding injected over 53 million RON into the capital of the energy company.
After turning Dedeman into the largest entrepreneurial company in the country, the Paval brothers have begun diversifying their investments. To date, they have directed the largest sums towards the real estate sector, with a total of over 800 million euros. They completed the largest real estate transaction of 2022 and the largest real estate deal ever in Romania by acquiring CA Immo’s office portfolio for 377 million euros; they paid around 200 million euros for The Bridge office complex, over 120 million euros for The Office complex in Cluj-Napoca, about 90 million euros for the first office building in the U Center complex in Bucharest, and 50 million euros for the Dacia One office complex in Bucharest. These acquisitions place them second in the ranking of the largest office space owners in Romania, after Globalworth.
The Paval brothers have also formed a partnership with businessman Ionuț Dumitrescu and his company, Element Industrial, to develop and sell industrial-logistics parks near major cities in the country. In addition to real estate investments, the Paval brothers have expanded their holdings into construction (Cemacon and Promateris), industry (Alro and Conpet), energy (Transelectrica and Electrica), viticulture (Purcari Wineries), company restructuring (ROCA Investments), waste collection (Ecorep Group), photovoltaic panels (Simtel), river transport (Transport Trade Services), healthcare (Victoria Dental Clinic, Farmacia Tei, and Bebe Tei), and agriculture (Moldova Farming). Recently, the Paval brothers acquired a 64-hectare plot in Ștefăneștii de Jos commune (Ilfov County) from the Spanish company Martinsa Fadesa, which could be used for warehouse developments. They are also working on their first residential complex, to be built on agricultural land in the Bacău neighborhood of Șerbănești, and preparing the construction of the mixed-use Dedeman Campus project in the same Bacău neighborhood, which will include a shopping center.
Additionally, the Pavals have consolidated and restored the Nicolae Hlebnikian merchant’s house in central Bucharest, purchased for approximately 5 million euros, which they plan to convert into the headquarters for the Paval holding companies.
