Enterprise Investors backs Elemental Holding with €7m

Enterprise backed Elemental with capital from the Enterprise Venture Fund I vehicle. The business will use the funding to make acquisitions in the Polish scrap-collection market. It will also set aside capital for investment in scrap and recycling businesses in order to expand within the wider CEE market.

The company has already acquired Polish recycling businesses Syntom and Terra Recycling since its inception. The GP initiated the deal by contacting Elemental Holding following its research in the recycling market in Poland.

Company
Elemental is a processor of metals from secondary sources in the non-ferrous scrap metal and electro-waste recycling markets in Poland. The company was founded in Grodzisk Mazowiecki, near Warsaw, in 2009. Its current €215m turnover is generated mainly by the trading of recyclable materials, particularly non-ferrous metals, and their segregation and basic processing. The business's current EBITDA is €7.1m and it employs 245 people.

People
Rafał Bator worked on the deal as a partner at Enterprise.

Advisers
Equity – ERM (Environmental due diligence); Gessel (Legal); Enodo (Tax).

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• Topics
• Expansion
• CEE
• Support services
• Poland
• Enterprise Investors
• Enterprise Ventures