Mid-market pan-European investor AURELIUS has announced that it has bought plastic bottle recycler ECO Plastics.
The financial terms of the deal have not been disclosed, but AURELIUS has said it will supply both operational improvement capabilities and financial support to the company’s current operations. It will also focus on the long-term strategic development of the business.
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AURELIUS London managing director Tristan Nagler said: “AURELIUS is delighted to have acquired ECO Plastics which has a strong position in the UK marketplace. For customers, suppliers and partners it will be business as usual, and we are committed to working with the company to develop long term, sustainable growth.
“AURELIUS has a strong track record in the industrials sector, providing both operational improvement as well as financial support to businesses. We are extremely excited about the future prospects of this business.”
ECO Plastics founder and deputy chairman Jonathan Short added: “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 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.”
Previous investments undertaken by AURELIUS have included its acquisition of Wellman International, which is Europe’s largest recycler of PET bottles and a leading producer of polyester staple fibre products.