Blue Phoenix announces that it has entered into a binding agreement to purchase a 100% equity stake in Recycling Kombinatie REKO B.V. (“REKO”).
REKO is a leader in the production of reusable raw materials for the asphalt and concrete industry. It operates a large mineral processing facility located near Rotterdam in the
Netherlands, featuring the three primary activities: a crusher for the production of granulates, two thermal treatment plants for cleaning tarcontaining asphalt and two plants for generating electricity from residual heat. In total, REKO employs more than 150 employees.
REKO’s mission is to make an essential contribution to a more sustainable society. REKO implements the processing of mineral waste in a transparent, environmentally friendly and
innovative manner. Using advanced equipment, the business produces high-quality building materials and energy from mineral waste.
The acquisition will further support Blue Phoenix's waste recycling portfolio and strengthen its presence in the European market.
Paul Knight, CEO of Blue Phoenix said “we are excited to welcome the REKO team into the Blue Phoenix. REKO has established for itself an important niche at the forefront of thermal treatment of tar containing asphalt, which turns a hazardous product that would have otherwise been destined for landfill into fully reusable and high-quality minerals,. The REKO
team, under leadership of Willem van Bentum, have dedicated themselves to finding anentirely sustainable solution to process mineral waste that is hugely positive for the built
environment. We look forward in leveraging the skillset of the business to further develop our plans over the coming years.”
Willem van Bentum, founder and owner of REKO B.V. said “in over 40 years we have built up this company. When I started recycling mineral waste in the early eighties, I could never have imagined that this company could grow into something so big. At that time, we thought Amsterdam was already far away and 50,000 tons per year was already a lot. Now we already have several projects that are larger than 50,000 tonnes on their own and we receive mineral waste from all over Europe. Now the company is ready for the next step with further expansion. REKO will now become part of BPG, an internationally operating recycling group with strong market positions in Europe. They are also supported by strong international parties, who support BPG in its further growth and development. I look forward to working with the management of REKO and BPG to ensure a smooth transition of REKO within Blue Phoenix as a basis for the further growth of my life's work.”
Vincent Menager, Investment Director at InfraVia Capital Partners said “The development of REKO within recycling of mineral waste is outstanding. This acquisition takes us one step further in BPG’s development strategy to divert waste from landfill into recycled products and Building a sustainable future. We are very excited to welcome the team and add REKO in the recycling value chain to the Blue Phoenix.”
Gregor Jackson, CEO of Daiwa International Capital Partners said ”The team at REKO have done a truly impressive job in developing a unique thermal process to turn hazardous waste into valuable recycled building materials. This is perfectly in line with Blue Phoenix Group’s values and their vision for circular building materials, and we congratulate Blue Phoenix on their acquisition”.
ABN AMRO acted as exclusive financial advisor and Clifford Chance acted as exclusive legal advisor to Blue Phoenix.
Westeinde Business Builders and AVVR were involved in the sale on behalf of REKO.
The acquisition is pending the standard approval process from the Dutch Business Authority.
Blue Phoenix
Amy de Jong-Townsend | Blue Phoenix | amy.townsend@blue-phoenix.com | +31 (0) 6 51 17 39 26
InfraVia
Antoine Denry | Taddeo | antoine.denry@taddeo.fr | +33 (0) 6 18 07 83 27
Clémence Midière | Taddeo | clemence.midiere@taddeo.fr | +33 (0) 6 46 76 70 22
Gwenaëlle Boucly | InfraVia Communications Director | gboucly@infraviacapital.com | +33 (0) 6 80 57 33 01
Daiwa International Capital Partners
Gregor Jackson | CEO, Daiwa ICP | gregor.jackson@daiwa-icp.com | +44 (0) 20 4551 2778
Blue Phoenix is a global resource company. Every day, we recover value from materials others discard. From incinerator bottom ash and construction waste to contaminated soil and tar-containing asphalt. We specialise in transforming complex materials into renewed resources for construction and infrastructure.
Operating on four continents, Blue Phoenix teams are on a daily mission to shift the world’s mindset from seeing waste as a problem to recognising it as potential. Through smart sorting, recycling and recovery, we give materials new life - with safety as our core value and guiding principle.
We partner with clients, plant operators, contractors, regulators and the wider society to create a truly circular economy. Working together towards our mission of nothing wasted, every resource reborn.
Founded in 2008, InfraVia is a leading independent private equity firm specializing in investments in fixed assets – infrastructure, critical metals, real estate and technology.
InfraVia focuses on robust companies that partner with management teams, entrepreneurs or industrial companies to develop their business and drive long-term value creation through active, hands-on asset management. Headquartered in Paris, with a team of over 100 people and 100% partner-owned, InfraVia manages €16 billion in capital* and has invested in over 50 companies across Europe. *Total capital raised.
www.infraviacapital.com
Daiwa International Capital Partners was established in 2020 by Gregor Jackson and Daiwa
International Investments GK as an independent manager of high-quality infrastructure assets
quality in waste management, circular economy and energy transition.
You can read more about Daiwa International Capital Partners by visiting this website: www.daiwa-icp.com