German Investor Aurelius Buys UK Recycler Eco Plastics
Aurelius AG, Munich, Germany, the listed mid-market pan-European investor, has acquired Eco Plastics, a reprocessor of recyclable materials located in Hemswell, Lincolnshire, UK. The financial terms of the deal are not disclosed.
Eco Plastics operates one of the world’s largest and most sophisticated plastic reprocessing plants, capable of sorting 150,000 tonnes of mixed bottles per year and representing around 35% of the total UK bottle collection in the UK every year. Since 2000, Eco Plastics has played a leading role in the UK’s plastics recycling sector with the development of new recycled plastic (Recycled Polyethylene Terephthalate - rPET) products, which have delivered value to local authorities and the waste management industry through feedstock contracting, and by working in partnership with major companies.
Aurelius will supply both its highly specialized operational improvement capabilities and financial support to the Company’s current operations, with a core focus on the long-term strategic development of the business. The investor has a strong track record in the plastics sector. Previous investments in this space include Aurelius‘ acquisition of Wellman International, Europe’s largest recycler of PET bottles and a leading producer of polyester staple fiber products.
Eco Plastics’ Founder and Deputy Chairman Jonathan Short, commented: “This news is not just a vote of confidence in the future of Eco Plastics, but a vote of confidence in the promising future of the UK’s fast growing recycling sector. Working with Aurelius will take the Eco Plastics story to the next level. This new owner will not only bring in new expertise and financial resources, but also a shared commitment to the development of a more sustainable, circular economy in the UK.”
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