Green Group, the largest integrated recycling group in South-Eastern Europe controlled by Abris Capital Partners, has acquired a 100% stake in the leading industrial waste management player in Romania - Eltex Recycling.
The two companies will join forces to further expand Eltex Recycling position as a leading provider of waste management solutions in Romania, by delivering high quality, cost efficient and sustainable services to its clients.
ELTEX RECYCLING was set-up in 2012 as a local subsidiary of Eltex Kft, one of the most important industrial waste management company in Hungary founded over 31 years ago, owned and lead by Mr. Vass Zoltan and Mr. Vermes Peter.
The company offers integrated waste management services, such as organizing the production flows for waste collection, taking over the waste collection process, , identifying recycling solutions to extract the maximum value from the generated waste.Its clients are large multinational companies from sectors such as: automotive, electronics or consumer goods. The company is run by Mr. Zoltan Bartha, CEO of the company since 2014.
GREEN GROUP is the leading recycling business in Europe, active in the recycling of all major waste streams including PET bottles, electric and electronic waste (WEEE), glass, lamps and batteries. The company is also the largest European producer of polyester synthetic fiber from 100% recycled PET flakes. The group expanded at the end of 2019 in Slovakia and Lithuania, where it operates two modern PET recycling facilities.
Commenting on the transaction:
“Aquisition of Eltex recycling is one more step taken by Green Group toward a circular economic model. We now start the cycle not from the waste but from a waste service given to industries. Now we will play “recycling as a service”, integrating industrial waste into new products. It is our way towards ‘zero waste” society” – said Mr. Constantin Damov, Chairman of Green Group.
“We are proud of the Éltex teams of Hungary and Romania to have built Eltex Recycling over the years into one of the most respected, expert waste management companies in the country, with special emphasis on the role of Mr. Zoltan Bartha and his management team.
We see in this transaction a great opportunity for Eltex Recycling as a part of the Green Group to radically increase its market share in the region and benefit from the synergies of their activities. To achieve this development Éltex Kft. will continue to provide all the support” – said Mr. Vass Zoltan, CEO of Eltex Kft.
In July 2016, Abris acquired majority control of Green Group and has partnered with the firm’s management team, to further expand the Group and to build the leading circular economy player in Europe.
“This acquisition is a part of our business strategy to consolidate the market position of Green Group as a leading integrated recycling business in Europe. Eltex Recycling will complement Green Group’s capabilities and will strengthen its position as a leader of the circular economy in the region.” - said Adrian Stanculescu, Partner at Abris Capital Partners and Head of Abris Romania.
Abris Capital Partners is an independent private equity fund manager focused on mid-market opportunities in the major countries of Central Europe.
Many prestigious international institutional investors (university foundations, pension funds, insurance companies and private foundations) have invested assets in the investment funds managed by Abris Capital Partners which has assets under management of nearly EUR 1.3 billion.
Abris funds have been investing in local mid-sized companies with healthy fundamentals and high growth potential for more than 10 years. Abris usually takes a financial position of EUR 30-75 million in such companies with a view to acquiring a majority stake.
The average investment term ranges from 3 to 5 years. These companies benefit from the capital Abris contributes and its team’s unparalleled strategic and operational management experience.
In the last decade Abris funds have made more than 25 investments in Poland and in Central Europe. Among the investment projects Abris is currently running in Romania are GTS, Dentotal Protect, Green Group and Pehart.
For further information please contact:
Beata Wojak, Marketing and PR Manager at Abris
mobile: +48 505 815 512