Sweden-based investment firm Summa Equity has acquired a majority stake in the Bollegraaf Group, a Dutch supplier of machinery for waste recycling, including plastics.
The parties did not disclose the terms of the deal.
Summa is taking over Bollegraaf from Amsterdam-based Capital A Investment Partners, the controlling shareholder for the past nine years. The acquisition is pending regulatory approvals and is expected to close in October 2024.
“We are convinced that in partnership with Summa, Bollegraaf can accelerate further growth and drive the transition to a circular economy,” said Edmund Tenfelde, CEO of Bollegraaf. “Together with Summa, we can invest in innovation and advanced technologies and improve the solutions for our clients through strategic acquisitions. Summa's industry advisor network is also playing a crucial role in uncovering new opportunities to enhance our efforts,” he added.
At PRSE 2024, Bollegraaf announced it is building a massive Low-Density Polyethylene (LDPE) sorting plant for Dutch plastics recycler Broeckx. The 13.5 tonnes/hour plant will be built at Broeckx’s headquarters in Esbeek, in the south of the Netherlands.
Summa has approximately €5 billion in assets under management and has made over 30 platform investments across three funds raised to date. It is investing in Bollegraaf as part of a €2.3 billion fund.
This July, Summa also announced the acquisition of Fortum Recycling and Waste for €800 million. The Finland-based company manages plastics waste as well as metal, ash, slag and hazardous waste. It also produces post-consumer recycled plastic under the brand Fortum Circo.