Finland-based Metso Outotec says the sale reflects the company’s strategic focus on the aggregates and mining industries. The transaction - details of which were not disclosed - is expected to take place during the fourth quarter of 2021.
Metso Outotec announced its intention to sell the recycling business last year. It comprises the waste recycling and metal recycling business lines.
The company says the divestment will have a minor positive impact on its financial results. The waste recycling business has been reported as part of discontinued operations in Metso Outotec’s financial statements. Metso Outotec says it is continuing with the divestment process of its metals recycling business line.
The divested waste recycling business will operate under the M&J brand, with headquarters in Horsens, Denmark. All current employees of the business, approximately 120 people, will transfer to the new company in connection with the transaction. The net sales of the business in 2020 totalled around €50m.
“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,” commented Uffe Hansen, head of the waste recycling business. “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, Ahlström Capital's president and CEO, said: “The waste recycling business, 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.”
Ahlström Capital focuses its investment activity on industrial companies, real estate and forests.
