The largest integrated recycling group in Central Europe launches ‘Circular Innovations’ division to invest in circular economy start-ups
20 July 2022, Bucharest – Abris Capital Partners (“Abris”), the ESG transformation specialist private equity investor, has supported GreenGroup, the circular economy leader in Central Europe, in acquiring SIGAD, a Romanian developer of environmental reporting software.
The acquisition marks the launch of GreenGroup’s ‘Circular Innovations’ division, which will invest in start-up and scale-up companies with a significant contribution to developing the circular economy in Europe.
Central European investor Abris first invested in GreenGroup in 2016 and has since partnered with the firm’s management team to expand the business organically and through acquisition, and to build the leading circular economy player in Europe. The acquisition of SIGAD is another step forward for GreenGroup in targeting unique technology businesses that contribute to the goals of resource efficiency and reduction of global carbon emissions.
Adrian Stănculescu, Partner and Head of Abris Romania, commented:
"The launch of this new division supports a broad investment program of GreenGroup, coordinated by Abris, that aims to strengthen the Group's position as the regional leader in the circular economy. Circular Innovations capitalizes on the momentum, as many entrepreneurs are steering their efforts and businesses towards sustainable development through innovative solutions. Furthermore, supporting businesses that contribute to reducing carbon footprints is an important pillar of Abris’ ESG strategy for the coming years.”
SIGAD is one of the leading Romanian developers of ERP systems that address companies' needs for efficient resource management and improved environmental performance, with a simple and fast solution. The company will benefit from both financial backing and GreenGroup's 20+ years of expertise in recycling and recovery of waste resources. In addition, there will be synergies with all GreenGroup divisions and networking and relationship-building opportunities with key industry stakeholders, helping to drive growth.
SIGAD’s founder, Andrei Dobrin, said:
"At a time when environmental protection has become a priority for governments and European institutions, this partnership with GreenGroup grants us access to the necessary investments and the experience of the largest recycling group in the region, backed by Abris, allowing us to benefit from rapid growth in the Romanian market and beyond.”
SIGAD is expected to become one of the largest providers of environmental software, non-financial reporting and ESG reporting solutions for large companies and SMEs in Romania and the Central Europe region. SIGAD will be integrated into the consolidated operations of GreenGroup.
Constantin Damov, CEO of GreenGroup, commented:
"The energy and raw material supply crisis, as well as global warming, form the context that drives today's economic growth and underpins the principles of sustainable business development. It is a propitious moment for start-ups, as they are characterized by opportunities for innovation and flexibility, giving them a privileged position in the circular economy. Their inclusion into the GreenGroup ecosystem is a strategic element in strengthening our position as an integrated player in the circular economy."