The acquisition will approximately double Stena Recycling’s business in the Finnish recycling sector. In the rest of the Nordic countries, Stena Recycling is already one of the largest players in the recycling sector and a pioneer in the circular economy.
“The businesses of Stena Recycling and Encore Environmental Services complement each other perfectly, and both companies have long experience in the industry. The transaction will enable us to jointly offer our customers an even broader range of circular expertise and services. Stena Recycling has solid experience in metal recycling and Encore in fiber recycling and pallets,” says Olli Kellokumpu, MD of Stena Recycling Finland.
Stena Recycling currently offers a range of circular services and recycles metals, electrical and electronic equipment, hazardous waste and end-of-life vehicles in Finland.
Encore Environmental Services has a strong background in paper collection and recycling, having practically taught Finns how to recycle paper. Over the years, however, the business has expanded to include not only the collection of paper, but also a wide range of circular and recycling solutions for different waste fractions, data confidential services, pallets and fuels for energy producers.
“Encore Environmental Services is in excellent financial shape. Demand for circular services is growing and the expertise brought by the change of ownership will support the development of the business in a changing environment,” says Petri Aaltonen, CEO of Encore Environmental Services.
The signing of the agreement does not entail any changes for customers or partners. The services will continue to be provided by familiar employees and partners as before.
The transaction is subject to the approval of the Finnish Competition and Consumer Authority and can be confirmed in early September.
Encore Environmental Services’ subsidiaries Hämeen Kuljetuspiste and its merged subsidiary Kuljetus J. Niemeläinen and Encore Regional Services are included in the transaction. Encore Ympäristöpalvelut has acquired the minority shareholdings of Encore Aluepalvelu.