Agilitas, a pan-European mid-market private equity firm, is pleased to announce a strategic acquisition by its portfolio company Reconor, one of the leading environmental services groups in Denmark. The financial consideration for the transaction is not being disclosed.
Reconor is acquiring 100 per cent of Lotra A/S, an environmental services business based in Kolding, Denmark. Founded in 2000 by its CEO Lars Holger Hansen, Lotra offers complete solutions for the collection, treatment and recycling of soil and construction waste. The acquisition provides Reconor with a strong presence in the Jutland region of Denmark and gives the expanded business increased coverage across Denmark.
Reconor, led by CEO Carsten Fich, processes over 2 million tonnes of waste each year, with only 0.12 per cent being sent to landfill. The majority of the waste is recycled into hardcore ballast for construction, as well as materials for plasterboard and for renewable power resources. Reconor’s expertise helps Danish construction groups meet the country’s high standards of responsible and environmentally safe recycling.
Commenting on today’s announcement, Martin Calderbank, Managing Partner at Agilitas said: “We are very pleased to have completed the acquisition of Lotra, which is an important step in transforming Reconor into a nationwide business”
Serge Touati, Partner at Agilitas and a Steering Committee member of Reconor said: “The acquisition continues the expansion of Reconor into major urban areas, offering a complete solution to the collection and treatment of all types of soil and building waste to an expanding customer base.”
Carsten Fich, CEO of Reconor, added: “Agilitas has been very supportive as we expand our geographic reach and drive the business forward. Lotra is a perfect fit for us. We are committed to supporting sustainable urban development and this acquisition gives us a presence in all major urban areas of the country.”
Lars Holger Hansen, CEO of Lotra, commented: “We know Reconor well and we have worked together for several years. We are looking forward to becoming part of a larger group where we can offer customers many more opportunities.”
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