HIG Capital takes 49% stake in Ecore

Alice Tchernookova
03 November 2016

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HIG Capital has acquired a 49% stake in Dutch recycling group Ecore.

The firm is acquiring the shares from CEO Guillaume Dauphin and his family, who previously owned the company in its entirety.

The investment, with an undisclosed value, was made 100% in equity. HIG bought shares from exiting members of the Dauphin family.

Following the deal, the group will continue to pursue its international expansion strategy, adding to its existing 105 global subsidiaries. It is primarily targeting expansion in the European and Asian markets. The group's French arm, GDE, is currently its main activity, representing around 80% of the business.

The business will also make investments to support its organic growth.

Company
Founded in 1993 and based in Amsterdam, Ecore manages recycling processes for companies and local authorities. It controls all stages of recycling, from the collection of used materials to the sale of recycled products. Ecore recycles ferrous and non-ferrous metals, plastic, batteries, non-hazardous industrial waste, paper and cardboard.

The company also sells its production of secondary-raw materials from ferrous metals to steel mills either directly or through its international subsidiaries. It has operations across the world, including in France – where it operates under the Guy Dauphin Environment (GDE) brand – Switzerland, Hungary, Romania, Germany, China and India.

Ecore currently employs 1,360 staff and recorded €1.1bn in turnover last year.

People
HIG Capital – Olivier Boyadjian (CEO); Cédric Lépée (principal); Edouard Lesieur (investment manager); Antoine Baudesson de Chanville (investment manager).

Advisers
Equity – Goetzpartners Corporate Finance, Serge Prager, Guillaume Piette (corporate finance); DLA Piper, Sébastien Pontillo, Pierre-Alain Bouhénic (legal); Accuracy, Stéphane Perrotto, Jean-Romain Gotteland (financial due diligence); Roland Berger Strategy Consultants, Emmanuel Bonnaud, Frédéric du Beaudiez (commercial due diligence); Stratum, Pierre Justin, Alban d'Hérouville (commercial due diligence); Coronelli Finance, Véronique Saubot, Robert Natali (commercial due diligence); Tauw France, Joëlle Marais (environmental due diligence).
Vendor – White & Case, Franck de Vita, Elisabeth Sandret-Renard (legal).
Company – August & Debouzy, Laurent Cotret (legal).