Agilitas, a pan-European mid-market private equity firm, is pleased to announce a further strategic acquisition by its portfolio company Reconor Group, one of the leading environmental services groups in Denmark. The financial consideration for the transaction is not being disclosed.
Reconor, based in Farum, Denmark, is further strengthening its activities in Southern Jutland with the acquisition of the business of 7-9-13 Recycling, a waste collection and recycling company established in 2000 and counting more than 250 customers, served with over 250 mini-containers and over 85 skips. The acquisition follows the purchase of Mijodan a/s, also based in Southern Jutland, in October 2017 and the acquisition of Lotra a/s in June 2017. Following the acquisition, the current family owners will exit the business, having reached retirement age, and the activities of the business will be integrated into Lotra a/s.
Reconor handles over 2 million tonnes of waste each year, with only 0.12 per cent being sent to landfill. Reconor’s expertise helps Danish industrial and construction groups and both public and private entities meet the country’s high standards of responsible and environmentally safe recycling.
Commenting on today’s announcement, Martin Calderbank, Managing Partner at Agilitas said: “This strengthens Reconor’s presence in the area and in its continued development into a nationwide business and is an exciting step in enabling Lotra, the business acquired in June 2017, to expediate its growth.”
Serge Touati, Partner at Agilitas and a Steering Committee member of Reconor said: “The acquisition continues the expansion of Reconor into offering a complete solution to an expanding customer base across a wider range of waste fractions.”
Jørgen Lindegaard, Chairman of Reconor Group added: "Agilitas has been strongly supportive in the continuing growth of Reconor. We are committed to supporting sustainable urban development and this acquisition strengthens our presence in Southern Jutland, expanding the range of services to existing and new customers.”
Lars Holger Hansen, CEO of Lotra, commented: “We are looking forward to bringing 7-9-13 Recycling into a larger nationwide company. Together we can offer customers many more opportunities and serve them even better.”
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