UK-based recycling and waste management company Viridor has closed the acquisition of Norwegian chemical recycler Quantafuel.
The deal was first announced in February 2023, when Viridor proposed to acquire all of Quantafuel’s outstanding shares for NOK 1.058 million, or NOK 6.38 per share. On Feb. 7, 2024, the Oslo Stock Exchange delisted Quantafuel’ shares from Euronext Growth, finalising the process.
"Quantafuel's integration into Viridor Polymers solidifies our position as a key player in the polymers reprocessing sector and underscores our shared commitment to driving innovation and creating a circular plastic economy," said Lee Hodder, managing director of Viridor Polymers.
Viridor’s offer was preceded by Quantafuel’s announcement in October 2022 of a strategic review to find potential financial partners to secure short and long-term financial solutions for the company, which was then facing a short-term liquidity shortfall.