MOSCOW (MRC) -- Repeats Group B.V., a Netherlands-based plastics recycling platform focused on producing high-quality recycled low-density polyethylene (LDPE), has acquired Polimero Srl, a producer of recycled LDPE based in northern Italy, said Recyclingtoday.
The financial terms of the acquisition were not disclosed. Polimero uses a mechanical process to convert plastic scrap into resin suitable for commercial and industrial applications. As part of Repeats Group, Polimero will continue to expand its production to meet demand for recycled LDPE in Europe.
Simonetta Tiberto leads operations at Polimero, and she has been with the company since 2010. Repeats Group says she will continue to lead the company’s Italian operations.
"Polimero has a great reputation in the industry as an important player in the LDPE recycling environment in northern Italy,” says Greg Rung, CEO of Repeats Group. “We see significant opportunity for Polimero to further penetrate the Italian market by providing its clients with higher quality recycled resin. We are delighted that Simonetta and her team are joining Repeats and look forward to building on their success to date."
Repeats Group says this acquisition will help it to expand its presence in Italy. The acquisition also expands the company’s presence as a plastics recycling platform in Europe. Prior to this announcement, Repeats Group acquired Anviplas S.L., a producer of recycled LDPE based in Spain, and Daly Plastics, a producer of recycled LDPE based in the Netherlands.
Repeats Group is a portfolio company of Ara Partners, which is a global private equity firm focused on industrial decarbonization.
We remind, Arkema finalized the acquisition of Polimeros Especiales, strengthening the Group’s offering in solvent-free solutions and its position in this fast growing region. Polimeros Especiales is a well-established Mexican company producing high-performance waterborne resins for a broad range of applications in markets such as architectural and decorative paints, textiles, pressure sensitive adhesives and construction. It is a key manufacturer of emulsions in the region, achieving sales of around USD40 million in 2021 and employing 230 people.