June 12, 2023, Bucharest - GreenGroup, leader in circular economy and waste management in Eastern Europe, has entered into an agreement to acquire a majority shareholding in Expert Cleaning, a provider of specialized cleaning solutions for hard industries and do-it-yourself stores in Romania, consolidating its portfolio of sustainable solutions for industrial customers.
This acquisition brings valuable synergies to GreenGroup’s subsidiary, Eltex Recycling, which manages industrial waste, and creates new sources of revenue and growth opportunities for the group. Eltex Recycling will work closely with Andreea Mija, Expert Cleaning’s founder and CEO, who will remain with a minority shareholding in the business, to leverage the company’s successful growth story. Together, they will provide innovative and cost-effective solutions for industrial customers who want to reduce their environmental impact and comply with regulations.
Zoltan Bartha, CEO of Eltex Recycling, stated: "Expert Cleaning has demonstrated strong growth potential and relies on a solid sales process, which GreenGroup will certainly benefit from. With significant overlap of services and customers with Eltex Recycling, this acquisition offers an opportunity to strengthen our position as an integrated partner for industrial customers. We also see potential to develop in the decontamination area, a service traditionally provided by waste management companies. The acquisition underlines our position as the ideal partner for industries seeking sustainable development and carbon footprint reduction."
Industrial cleaning services play a critical role in maintaining safety, efficiency, and productivity in various industries, such as automotive, manufacturing, chemical, and food processing. GreenGroup's acquisition of Expert Cleaning strengthens the group's commitment to providing integrated waste management solutions that address the specific needs of industrial units, in full compliance with environmental regulations.
Andreea Mija, CEO of Expert Cleaning, stated: "For Expert Cleaning, becoming a part of GreenGroup comes as a natural step, that will support the next stage of development of the company. We feel that together with Eltex, we are creating a Blue Ocean for the professional cleaning services, as a piece in a circular economy ecosystem. In this whole acquisition process we also discovered common values and a shared view for the future."
We are committed to continue the partnerships we developed with our clients and to provide them better services every day.”
The European cleaning services market is expected to grow in the coming years, reflecting the increasing demand for specialized services from industrial players. This new acquisition is aligned with Abris’ growth strategy for GreenGroup, as the private equity fund focuses on its ambition to keep expanding and consolidating GreenGroup’s position as a circular economy leader in the region. Abris Capital, is the leading ESG transformation specialist private equity fund manager operating in Central Europe, aiming to turn its local companies into regional champions.
About GreenGroup
GreenGroup is a regional integrated recycling group and a pioneer in the circular economy, with over 20 years of experience. GreenGroup is a top player in the European market for PET recycling and the production of polyester fibers from recycled PET. They are also a key player in electronic waste recycling, glass waste management, and industrial waste management. Since 2016, the majority ownership of GreenGroup has been held by Abris Capital Partners, one of the leading private equity investors in Central Europe.
More on: https://www.green-group-europe.com/
