The circular economy leader in Central Europe GreenGroup, a portfolio company of Abris Capital Partners (Abris), has acquired the largest industrial waste management company in Lithuania - Žalvaris UAB. In this deal, PwC Lithuania has provided the buy-side financial and tax due diligence and other transaction advisory services.
The PwC team included the following finance professionals: Teet Tender, Rokas Žemaitis, CFA and Petras Misiūnas, as well as tax professionals Nerijus Nedzinskas, Renata Rinkevičė, Rasa Stankevičė and Paulius Gura.
Abris Capital Partners is the leading ESG transformation specialist private equity fund manager, focused on mid-market opportunities in the major countries of Central Europe. It will facilitate the integration of Žalvaris within the GreenGroup ecosystem, generating significant opportunities for growth. In particular, the combined business will be well placed to act as a trusted recycling partner for producers and waste generators that are investing more in carbon footprint reduction. In addition, the acquisition will bring significant synergies with other GreenGroup divisions, including those which manage polyolefins.
Part of an ambitious M&A strategy, this acquisition will further consolidate GreenGroup’s position in industrial waste management, following its entry into the sector in 2020 through the acquisition of Eltex in Romania. The acquisition of Žalvaris is part of GreenGroup’s new investment plan, totalling up to €200 million, focused on consolidating its position as the largest integrated recycling group in Central Europe, through capex investments and bolt-on acquisitions.
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