Reconomy Group Combineering 03-03-2023
Reconomy Group Combineering
-EY advises Combineering (DK) on its sale to Reconomy Group (UK)
Reconomy Group expands circular capabilities in Europe with strategic acquisition of Combineering.
Leading global circular economy business, Reconomy Group has acquired green tech development company, Combineering, a well-established and rapidly-growing provider of unique, science based recycling solutions with the aim of turning waste into an infinite resource. The deal has been completed on Tuesday, 28 February 2023.
Based in Birkerød, Denmark, Combineering has been developing specialised recycling solutions for four decades, with the aim of maximising recycling rates, minimising waste, reducing CO2 emissions, and closing the loop for its customers.
Their large scale, scientific and proprietary circular methods have been standardised and implemented across various industry sectors, providing full legal compliance and driving the best value for customers.
Combineering’s strong presence across industries including agriculture, energy, biogas, manufacturing and construction will compliment Reconomy Group’s existing ‘Recycle’ vertical and circular economy capabilities, whilst adding further specialist expertise and greater reach built on long-term customer relationships in several countries.
Combineering will continue to operate as a distinct brand within Reconomy Group and have the benefit of access to a much broader set of sustainable products, technologies and services. Reconomy Group Combineering
Carsten Park Andreasen, CEO of Combineering, said: “This is a huge moment for Combineering and joining Reconomy Group – a business that also believes in the endless potential to transform waste into resources – will allow us to accelerate growth in our existing activities and develop new markets.
We’re looking forward to working with our colleagues across the Group to maximise the opportunity to support customers globally with even more of their sustainability needs”.
Guy Wakeley, chief executive of Reconomy, concluded: “Enabling the circular economy for businesses around the world is the reason that Reconomy exists. Decoupling economic growth from the consumption of natural resources is a fundamental need for the 21st century and Combineering brings important proprietary capability to pursue this purpose and drive great ESG outcomes for our customers. Their history of invention, agility and innovation matches perfectly with our core values, and we are delighted to welcome the entire Combineering team into Reconomy to join us in the next exciting phase of our journey”. Reconomy Group Combineering
The entire sales process was led by EY who ensured a streamlined and coherent process. Carsten Park Andreasen commented; “Having all services gathered at EY have had a significant advantage for us. – All teams where constantly updated and coordinated resulting in an efficient process for us as seller”.
The enterprise value of Combineering is the range of EUR 150 – 250 million.