Acea has acquired 70% of Serplast and 60% of Meg, companies operating in the sector of plastic recycling, "a segment that lies downstream from that of post-consumer plastic selection in which ACEA is already present with the companies Demap and Cavallari", underlines the company in a note.
The agreement signed today, Tuesday 27 July, involves the Serplast and Meg plants respectively present in Abruzzo and Veneto. The volumes treated expected in 2021 are equal to approximately 70.000 tons per year.
Il economic value of the operation, in terms of EnterpriseValue of 100% of the companies, is equal to a total of 12 million euros and the expected Ebitda in 2021 is approximately 3 million euros. “The acquisition took place at an average EV/EBITDA multiple of 4x”, communicates Acea in a note.
Joseph Gola, CEO of Acea, commented: "Thanks to this acquisition, ACEA takes a further step forward in the path of infrastructural growth in the field of plastics treatment, entering a new sector such as recycling, seen in strong growth in the coming years. Furthermore, the transaction is consistent with the 2020-2024 Business Plan which envisages significant growth in the circular economy and in line with the Group's sustainability objectives".
At Piazza Affari, the Acea title it lost 0,56% to 19,46 euros.
