The Girteka Group, which includes Lithuanian-headquartered Girteka Logistics, has secured a €173 million finance deal to expand its fleet and operations.
Girteka plans to use the finance from long-term financial partner, OP Corporate Bank, to acquire up to 4,000 trucks and trailers annually in the 2025-2026 period.
The funds will be allocated to UAB Girteka Group and its shareholder UAB Willgrow.
Girteka Group’s Chief Financial Officer, Vytenis Šuklys, said: “This investment will help us ensure the consistent expansion of a more sustainable fleet, maintain high efficiency and quality of services, and strengthen our position in the market as the operator of the largest private fleet in Europe.
“This targeted preparation for the Group’s next growth stage in 2026 will be substantially financed by the Group’s long-term financial partner OP Corporate Bank.”
Šuklys said partners are selected based on their flexibility, financial reliability, and the ability to quickly adapt to market changes – factors crucial in the logistics sector.
Head of Corporate Clients at OP Corporate Bank’s Lithuanian branch, Giedrius Dzenkauskas, said: “The transport sector is growing again, making it a favorable time for the market leader to increase investments in its fleet, business expansion, and environmental impact reduction.
Newer trucks meet higher environmental standards, improving the sustainability of both the company and the entire sector.”
The volume of European road freight transport stabilised last year, and demand growth of 1–2 per cent is forecasted for this year. The total European road transport market was valued at €428.2 billion in 2024.
OP Corporate Bank holds 21 per cent of the heavy transport leasing market and is one of the largest corporate financiers in Lithuania. Its total business loan and leasing portfolio amounts to €1.6 billion. The bank works with large and medium-sized companies.
OP Corporate Bank is part of OP Financial Group, the largest financial group in Finland. The bank operates in Finland and the Baltic states.
OP Corporate Bank has been cooperating with Girteka Group for thirteen years and has previously actively financed the expansion of the Group’s fleet.
In other news Spanish logistics firm Disfrimur has partnered with OEM, Lecitrailer, to modernise and update its trailer fleet.
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