Mountain Cleantech backs Ascon Resource Management

The GP cited the scalable business model and growth potential in the material-handling business as reasons behind its investment.

The fresh capital will be used to strengthen Ascon's market position in Germany, expand the company internationally and increase its secondary raw materials trading capabilities.

The investment was made using equity from Mountain Cleantech Fund II, which launched in June 2011 and closed on €50m. The GP focuses on growth investments in the DACH region and Sweden, within the areas of sustainability and environmental protection.

Company
Founded in Bonn in 2000, Ascon provides environmental and waste management services from collection and sorting to recovery, recycling and marketing of secondary raw materials.

ELS Europäische LizenzierungsSysteme, a subsidiary of Ascon, began operating in the packaging licencing area in 2008. It initiated its own dual-waste management/recycling system, ELS Dual, in 2014. Ascon has 32 employees.

People
Alexander von Hutten is managing partner at Mountain Cleantech. Sascha Schuh is CEO of Ascon.

Advisers
Equity – Sarbery Capital, Jan Rietzschel (Corporate finance); Stolzenberg Rechtsanwälte, Moritz Stolzenberg (Legal); Baker Tilly Roelfs, Kai Behling (Financial due diligence).

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• Topics
• DACH
• Expansion
• Support services
• Germany