Abris Capital Partners has acquired majority control of Green Group, the largest integrated recycling group in South-Eastern Europe. Abris will partner with the founder of Green Group, Mr. Clement Hung, to grow the operations of the group in the region and to further expand its collection infrastructure. The transaction has received clearance from the Romanian anti-monopoly authorities.
Green Group is the leading recycling business in Romania and South-Eastern Europe, active in the recycling of all major waste streams including PET, electric and electronic waste (WEEE), glass and batteries. The business is also investing in the expansion of its regenerated polyester fibre production facilities and will, by early 2017, be the largest producer of polyester staple fibre (PSF) in Europe. The company is expanding its geographic presence and currently operates waste collection and recycling facilities in Romania, Serbia and Macedonia.
Most recently, Green Group has created SIGUREC, an intelligent nationwide collection infrastructure capable of processing multiple waste streams. Employing high-end innovation and technology, and engaging retailers, citizens and communities, SIGUREC will prevent a growing volume of recyclables from being committed to landfill sites.
Under the new shareholding structure, Green Group will aim to make recycling a normal part of the everyday lifestyle for as many responsible Romanians as possible. The main objectives for the following years will be the consolidation of SIGUREC collection system and the extension of the integrated recycling park.
Clement Hung, founder of Green Group will continue to serve as CEO:
“Speaking on behalf of both the Green Group management team and Romcarbon, I can truly say we are delighted to have been able to secure a new strong financial partner which can play an active role in the long term development of the group.”
Cezar Scarlat, Partner at Abris, Head of Abris Romania:
“First and foremost we are impressed by the very competent and dedicated management team led by Mr. Clement Hung, essentially, the architect of the recycling industry in Romania. We believe that Green Group is ideally positioned to take advantage of the circular economy that is rapidly gaining in importance in Romania and elsewhere.”