The Finnish company Metso Outotec has signed an agreement to divest its Waste Recycling business line to Ahlström Capital, a family-owned investment company.
Credit: 279photo Studio / Shutterstock
Metso Outotec announced in October 2020 its decision to divest its Recycling business which comprises of the waste recycling and metal recycling business lines based on the company’s strategic focus on the aggregates and mining industries. The closing of the transaction is expected to take place during the fourth quarter of 2021.
The parties have decided not to disclose the value of the transaction. The divestment will have a minor positive impact on Metso Outotec’s financial results. Metso Outotec continues with the divestment process of its Metals Recycling business line.
“We are very pleased that we have found a new owner for our business, whose strategic thinking and ambitions are so well aligned with ours,” says Uffe Hansen, who is heading the Waste Recycling Business. “As a standalone company with a sole focus on waste recycling, we will be more agile and customer-centric to further exploit growth opportunities.”
“The Waste Recycling business has a proven track record with a strong growth profile, in an attractive market,” says Lasse Heinonen, President and CEO, at Ahlström Capital. “The business is well-positioned to help drive sustainable development with its premium brand offering, robust operations and skilled personnel. I believe that Ahlström Capital as an owner will bring further focus on and resources for growth initiatives and support the standalone business to reach its full potential.”
The Waste Recycling business will be operating under the M&J brand, and its headquarters will be in Horsens, Denmark. All current employees of the business, approximately 120 persons, will transfer to the new company in connection with the transaction. The net sales of the business in 2020 totalled some 50 million EUR.
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