Abris-backed GreenGroup buys recycler UAB Ecso; Eurazeo invests in vet firm Sevetys

GreenGroup has been busy with add-ons, after acquiring SIGAD in July.

Morning Eurohubsters, it’s Craig McGlashan here to start your week with the Dealflow.

There was a bit of worrying news this morning, with Jefferies research finding that investors were selling stakes in private equity and venture capital funds this year “at the fastest pace on record”, as per the Financial Times. That tallies with what the CIO of one private equity firm told me recently: “Thank god I’m not fundraising.” But on the deal side, funds with cash to put to work are busy, despite it being the height of holiday season.

Adding on. Abris Capital Partners announced on Monday that it has supported its portfolio company GreenGroup in buying UAB Ecso, a low density polyethylene recycling company based in Vilnius.

The deal is GreenGroup’s entry into the polyolefin recycling market and creates the platform for further expansion in this sector across the CEE region. Over the next few years, GreenGroup will invest €150 million to €200 million to further consolidate its position as the largest integrated recycling group in CEE through capex investments and bolt-on acquisitions.

“This latest acquisition consolidates GreenGroup’s recycling activities over the past 20 years and is a decisive step in the group’s strategy to become a key player in polyolefins recycling in the region,” said Adrian Stănculescu, partner and head of Abris Romania. “Furthermore, it is a strategic investment that reinforces the group’s commitment to sustainability and to tackling the most pressing environmental issues, such as plastic pollution and reducing carbon footprints.”

Bucharest-based GreenGroup has been busy with add-ons. In July, it bought SIGAD, a Romanian developer of environmental reporting software.

Abris is headquartered in Warsaw.

Pet project. Paris-based Eurazeo announced on Friday that it has invested in Sevetys, a French veterinary services provider, in a deal that is expected to reach approximately €250 million.

Paris-headquartered Sevetys was founded in 2017 and has a network of over 200 veterinary clinics throughout France. The group has integrated more than 80 new clinics since the beginning of 2022.

Eurazeo has made the investment with a view to supporting Sevetys through its next phase of growth.

That’s it – I hope you have a great week.

Cheers,

Craig