Private equity firm HIG Capital has acquired a significant stake in Ecore, a French recycling business.
Ecore was established in 1993 and is now the second largest player in the French recycling market through its main subsidiary GDE. The business manages all stages of the recycling chain, from waste collection to processing, transport and sale of recycled products, and in 2016 generated revenue of around €1 billion. It employs over 1,360 people and recycles more than 3 million tons of materials each year, including more than 2.6 million tons of ferrous metals.
Guillaume Dauphin, CEO of Ecore Group said: “We wanted to partner with a major financial sponsor, HIG, in order to pursue the development of our activities and expand our business internationally. Our continued efforts combined with the experience and support of HIG will speed up Ecore’s growth and position the Group among global leaders.”
Olivier Boyadjian, Managing Director at HIG Capital, added: “HIG is delighted to partner with the Dauphin family through our strategic investment in Ecore, a pioneer in a growing industry. HIG, through its participation in the advisory board, will provide the Group critical expertise in order to support Ecore in this new phase of development and help it unlock its full potential.”
HIG Capital has invested in and managed more than 200 companies worldwide since it was founded in 1993 and now has more than €20 billion of equity capital under management.