Ambienta SGR SpA, a large asset manager in Europe that focuses on environmental sustainability, has acquired a majority stake in plastics recycling machinery specialist Previero N srl.
Ambienta will work with the third generation of the Previero family, who will retain a significant stake in the company. Terms of the deal were not disclosed.
Founded in 1922, Como, Italy-based Previero provides turnkey recycling ‘bale to flake’ solutions for all types of feedstocks, including rubber, PET and films. The company not only offers a range of size reduction machinery - grinders, shredders, pelletizers, dicers and agglomerators - but is also capable of supporting its customers in the design and commissioning of complete recycling lines for the treatment of materials such as copper wires, tires and post-consumer packaging.
Ambienta’s focus on the environmental sustainability trends of resource and efficiency and pollution control aligns with Previero’s ongoing development work in the area of integrated and sustainable recycling solutions. The two companies are like-minded in recognising that not only is the need to increase plastic circularity becoming more and more urgent, providing sustainable solutions to global environmental issues is a strong source of competitive advantage.
Flavio Previero, chairman of Previero, said in a news release: “In Ambienta we found a partner capable of understanding the history and the potential of the company, whom we believe will provide complementary industrial and international expertise that will enable us to capture the many opportunities we see ahead more quickly and effectively.”
Ambienta, which has offices in Milan, London, Paris and Munich, manages over 3 billion euros in assets, with investments in private and public companies. Previero is the first company in its 1.55 billion euro Ambienta IV fund.