KBS Corporate Finance advises on sale of Plastic Recycling Companies to Ravago
The two highly respected recycling companies had built a strong partnership by working closely together for over a decade. Given the collaboration in place and the potential synergies on offer through integration, the acquisition of both companies presented an interesting opportunity for the right buyer.
The project was led by Mughees Saleem (Corporate Finance Director) and George Dalton (Corporate Finance Executive), who advised the group throughout the process. The opportunity produced a competitive bidding environment with interest from both trade and private equity. The successful offer came from Belgian based sector specialist Ravago, with the acquisition enabling them to diversify their service offerings alongside strengthening their presence within the UK.
Mughees commented: “The shareholders of Aurora and Venture had built incredibly successful companies and it was important to present the relative strengths of each company throughout the process, with the transaction a great result for both buyer and seller.”
Alex Cook, CEO of Aurora, commented: “Following two decades of work within the UK plastics recycling industry we are pleased to announce the acquisition of our businesses into the Ravago group.
“As the recycling market continues to mature within the UK we are very much focused on expansion and realising our full potential in the coming years.
“The investment and support of Ravago will play a key part in this and will accelerate our ability to adapt and meet the requirements of the future market for recycled plastics.”
The Ravago group benefits from a global presence and a varied client base supplying clients within the automotive, electrical appliances, wire and cable, and packaging sectors. Annually the group sells more than 6,700,000 tonnes of polymers. Ravago intends to grow its operations within the UK throughout the acquisitions of Aurora and Venture.
Manuel Gayo, Ravago Manufacturing Europe’s business director, added: “This is a key step in Ravago’s growth strategy in post-consumer recycling-based compounds as we continue to support our customers with solutions to meet the ever-increasing demand for post-consumer recycled plastics.”