Girteka Group is continuing its long-standing relationship with OP Corporate Bank, securing EUR 173 million in financing to finance the expansion of its fleet and operations. The Group plans 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.
“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,” says Vytenis Šuklys, Girteka Group’s Chief Financial Officer.
According to Šuklys, partners are selected based on their flexibility, financial reliability, and the ability to quickly adapt to market changes – factors crucial in the logistics sector.
“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,” says Giedrius Dzenkauskas, Head of Corporate Clients at OP Corporate Bank’s Lithuanian branch.
OP Corporate Bank holds 21% 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 EUR 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.
The volume of European road freight transport stabilized last year, and demand growth of 1–2% is forecasted for this year. The total European road transport market was valued at EUR 428.2 billion in 2024.
