Recycling group GreenGroup takes over Lithuanian polyethylene recycling firm
GreenGroup, the circular economy leader in Central Europe, controlled by independent private equity fund manager Abris Capital, acquired UAB Ecso, a Lithuanian LDPE (Low Density Polyethylene) recycling company.
This marks its entry into the polyolefin recycling market and creates the platform for further expansion in this sector across the CEE region.
“This latest acquisition [...] is a decisive step in the group’s strategy to become a key player in polyolefins recycling in the region,” commented Adrian Stănculescu, Partner and Head of Abris Romania.
Earlier in April, it raised EUR 127 mln to accelerate its growth and support the surging demand for recycling and sustainable products in the region.
UAB Ecso is GreenGroup’s second add-on in recent weeks, following the acquisition of SIGAD, a Romanian developer of environmental reporting software, in July.
Over the next few years, GreenGroup will invest EUR 150 mln to EUR 200 mln to further consolidate its position as the largest integrated recycling group in CEE through capex investments and bolt-on acquisitions.
(Photo courtesy of GreenGroup)