Metso Outotec to divest waste-recycling business
Company agrees to sell recycling division to Ahlström Capital
METSO Outotec have announced that an agreement has been signed for the sale of their waste-recycling business to Ahlström Capital, a family-owned investment company, for an undisclosed sum.
In October 2020, Metso Outotec took the decision to divest their recycling operations based on the company’s strategic focus on the aggregates and mining industries. The closing of the transaction is expected to take place during the fourth quarter of 2021.
The Finnish firm said the divestment will have a minor positive impact on Metso Outotec’s financial results.
The acquired waste-recycling business will be operating/trading under the M&J brand and its headquarters will be in Horsens, Denmark. All 120 employees of the division will be transferred to the new company once the sale has been completed.
‘We are very pleased that we have found a new owner for our business, whose strategic thinking and ambitions are so well aligned with ours,’ said Uffe Hansen, who is heading the waste-recycling firm.
‘As a standalone company with a sole focus on waste recycling, we will be more agile and customer centric in order to further exploit growth opportunities.’
Lasse Heinonen, president and CEO of Ahlström Capital, added: ‘M&J has a proven track record with a strong growth profile, in an attractive market. The business is well positioned to help drive sustainable development with its premium brand offering, robust operations and skilled personnel.
‘I believe that Ahlström Capital as an owner will bring further focus on and resources for growth initiatives and support the standalone business to reach its full potential.’