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Family HoldingAllocates capital directlyActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 6 SOURCES

Paval Holding

Bacau holding company set up in 2018 by Dragos and Adrian Paval, owners of DIY retailer Dedeman; holds office and hotel real estate, Cemacon and stakes in listed and private companies.

USEFUL FOR Fund managers raising capital · Business owners seeking a long-term partner · Co-investors

Family & background

FAMILY
Paval
WEALTH ORIGIN
Dedeman, Romanian DIY retail chain
HEADQUARTERS
Bacau, Romania
FOUNDED
2018

Investment approach

SECTORS
Consumer & E-commerceReal Estate & PropTechIndustrial & ManufacturingHealthTech
GEOGRAPHY
RomaniaEurope
ROUTES
Direct investments · Funds (as LP)
STRATEGIES
Direct investmentsReal estatePublic equitiesPrivate equity
LATEST DEAL
Praktiker Hellas (acquisition) · Jul 2025

Overview

Paval Holding S.R.L. was established in 2018 by brothers Dragos (60%) and Adrian Paval (40%), the owners of Romanian DIY retailer Dedeman, to hold all the shares they control. Besides Dedeman, it owns office buildings in Bucharest and Cluj-Napoca (including the former CA Immo Romanian portfolio), hotels in Italy and Switzerland with Apex Alliance, and 99% of brick maker Cemacon. It also holds minority stakes in Farmacia Tei, Promateris, ALRO and, via Equiliant Capital, Victoria Dental Clinics, plus a Romanian listed-equity portfolio and fund interests. In July 2025 it acquired the Greek DIY chain Praktiker Hellas, financed from own capital.

Investment thesis

Invests in key sectors of Romania's economy, including listed companies, private equity and venture capital funds, with a focus on long-term value.

Holdings & investments (11)

  • Praktiker Hellas
    Consumer & E-commerce · since 2025
  • Waldhaus Flims Wellness Resort
    Real Estate & PropTech · since 2024 · with Apex Alliance
  • Grand Hotel Gardone
    Real Estate & PropTech · since 2023 · with Apex Alliance
  • Farmacia Tei / Bebe Tei
    HealthTech · since 2022 · 30% stake
  • Promateris
    Industrial & Manufacturing · since 2022 · 24% stake
  • Dacia One (Bucharest)
    Real Estate & PropTech · since 2021
  • The Office (Cluj-Napoca)
    Real Estate & PropTech · since 2019
  • Dedeman
    Consumer & E-commerce · owned
  • Cemacon
    Industrial & Manufacturing · 99% stake
  • ALRO
    Industrial & Manufacturing · 23.2% stake
  • Victoria Dental Clinics
    minority stake via Equiliant Capital

People

  • Adrian Fercu
    Investment Committee Member · source
  • Dragos Paval
    Co-owner (60%) · source
  • Adrian Paval
    Co-owner (40%) · source
  • Karina Paval
    Vice President · source

Classification

Family Holding. A family's holding company that owns stakes in several separate businesses or invests beyond its own group, without calling itself a family office. How family capital is classified →

FAQ

Paval Holding is a family holding based in Bacau, Romania, founded in 2018.

Paval Holding invests on behalf of the Paval family (Dedeman, Romanian DIY retail chain).

Paval Holding invests directly in companies and in third-party funds as an LP. Its stated asset mix includes direct investments, real estate, public equities and private equity.

Paval Holding invests in Consumer & E-commerce, Real Estate & PropTech, Industrial & Manufacturing and HealthTech.

Key people at Paval Holding include Dragos Paval (Co-owner (60%)), Adrian Paval (Co-owner (40%)), Karina Paval (Vice President) and Adrian Fercu (Investment Committee Member).

Paval Holding's holdings and investments include Dedeman, Cemacon, Farmacia Tei / Bebe Tei, Promateris, ALRO, Victoria Dental Clinics, Praktiker Hellas and Grand Hotel Gardone, among others.

The most recent publicly reported investment by Paval Holding is Praktiker Hellas (acquisition), announced in Jul 2025.