GreenGroup Raises Financing in Recycling Sector
Backed by private equity investor Abris, one of the largest integrated recycling groups in Central Europe raises 127 million Euro to accelerate its regional expansion.
Abris Capital Partners has supported Romania-based GreenGroup in a 127 million Euro (about 133.800 million US-Dollar) fundraising to accelerate its growth and support the surging demand for recycling and sustainable products in the region. The financing will allow GreenGroup “to build on the successful growth already delivered since Abris’ entry and accelerate its plans to scale up its operations across the region, developing unique solutions to recycle previously discarded materials and to penetrate new segments”. The funding would allow the group to quadruple its rPET capacity to 28,000 tons and almost double its glass and WEEE recycling capacities to reach 150,000 tons and 73,000 tons respectively. In addition, the group intends to expand into electrical motor recycling, and residual derived fuel production, as well as invest in various environmental, social, and governance (ESG) programs including several photovoltaic projects.
Abris first invested in GreenGroup in 2016, acquiring majority control of the Romanian integrated recycling group. Since then, the business has expanded rapidly and now has the capacity to process 280,000 tons of waste per year, including PET, electronic equipment, lamps, batteries and glass, at 10 production facilities across Romania, Slovakia and Lithuania. In addition to its organic growth, the Romanian company has pursued an ambitious M&A strategy across all its divisions in Central Europe. The group expanded at the end of 2019 into Slovakia and Lithuania, where it operates two modern PET recycling facilities. Moreover, in 2020 Abris acquired a 100 percent stake in Eltex Recycling, one of the leading industrial waste management players in Romania, allowing GreenGroup to take one more step toward a circular economy model.
www.green-group-europe.com/en
www.abris-capital.com
(Published in GLOBAL RECYCLING Magazine 2/2022, Page 7, Photo: GreenGroup)
