Recycling group GreenGroup raises EUR 127 mln to accelerate regional expansion

GreenGroup, the largest integrated recycling group in Central Europe, backed by its majority owner - independent private equity fund manager Abris Capital, raised EUR 127 mln to accelerate its growth and support the surging demand for recycling and sustainable products in the region.

The funding was raised through syndication of banks, including UniCredit Bank and Raiffeisen Bank as Coordinating banks, Bookrunners and Mandated Lead Arrangers and Banca Comercială Romana, ING Bank and OTP Bank Romania, acting as Mandated Lead Arrangers.

The financing will allow GreenGroup to accelerate its plans and scale up its operations across the region, developing unique solutions to recycle previously discarded materials and penetrate new segments. The funding will also allow the group to quadruple its rPET capacity to 28,000 tonnes and almost double its glass and WEEE recycling capacities to reach 150,000 tonnes and 73,000 tonnes, respectively.

In addition, GreenGroup will expand into electrical motor recycling and residual derived fuel production, as well as invest in various 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 tonnes of waste per year, including PET, electronic equipment, lamps, batteries and glass, at 10 production facilities across Romania, Slovakia and Lithuania.

(Photo source: Green-group-europe.com)