Plastics recycling platform Repeats - an acronym for Recycled PE AT Scale - is continuing to pursue its pan-European expansion ambitions with the announcement that it has made an investment in Netherlands-based Daly Plastics, a producer of recycled LDPE.
Financial terms of the transaction were not disclosed. The investment builds on Repeats’ initial base in Spain, with expansion to other European countries envisioned for later this year.
Daly Plastics focusses on mechanical recycling to transform plastic waste from commercial, industrial and agricultural sources into resin suitable for commercial and industrial applications. Founded in 1985, the company is led by Peter Daalder, who has worked at Daly Plastics since the very start. Daalder will continue in his role as CEO for the Dutch operations.
With Repeats’ backing, Daly said it now plans to nearly double its production capacity to meet the growing demand for recycled LDPE in Europe.
“We share Repeats’ ambition to become a leading LDPE recycler in Europe and view our efforts as mission-critical to establish a circular solution for the growing plastic waste problem in Europe,” said Daalder.
Repeats is a portfolio company of Ara Partners, a global private equity firm focused on industrial decarbonisation.The company is led by Greg Rung and a team of LDPE recycling executives who collectively have over 80 years of experience in the plastics recycling industry and who have developed strong relationships with the stakeholders driving growth in the European recycled LDPE resin market. The first investment made by the company was made in December 2021, when it announced the acquisition of an interest in Anviplas, an LDPE recycler based in Catalonia, Spain.
According to Rung, the investment by Repeats offers ‘significant opportunity for Daly Plastics to continue to penetrate the Dutch and German markets while being able to serve more international clients thanks to higher-quality plastic flakes produced with the latest technology available’.
“We are very impressed with the business that Peter, his family and the entire Daly team have built,” added Tuan Tran, a Partner at Ara Partners. “The Repeats platform is well-positioned for rapid growth and we envision building the largest independent producer of recycled LDPE resins in Europe. Our investment in Daly Plastics will have a meaningful impact on our continuous efforts to decarbonise the European plastics market.”