Agilyx has agreed to fully finance and acquire 44% of GreenDot Global, strengthening its presence in Europe’s advanced recycling industry. GreenDot, Europe’s top circular plastic recycler and third-largest in Germany, operates in 29 countries, processing over 1 million tons of waste annually. It is expanding its feedstock supply through facilities in Austria and Italy, with sales expected to reach €400 million in 2025 and achieve double-digit EBITDA.
The deal values GreenDot at €197 million post-money, with Agilyx paying €52 million through €32 million in shares (priced at 25.76 NOK VWAP) and €20 million cash.
The shares will be locked until January 10, 2026, with a 90-day sales cap. This fully financed transaction, via a €20 million subordinated loan from existing investors, is subject to approvals and expected to close in late Q3 2025.
Tor Svelland will resign from Agilyx’s Nomination Committee in connection with this transaction. And the company plans to nominate Tom Lileng as his successor, pending approval at the upcoming EGM. Lileng has substantial investment and governance expertise, as he most recently served as Managing Director of General Oriental Investments and Cavamont Holdings, overseeing both liquid and private investment portfolios with strong absolute and risk-adjusted returns. Currently, he serves as a Non-Executive Director and a member of the Nomination Committee at two other publicly listed Norwegian companies.
KEY QUOTES:
“We are thrilled to expand Agilyx´s reach into Europe as we build a global platform to supply feedstock to the plastic recycling industry. GreenDot is the recognized industry leader in Europe, has tremendous momentum in the fast-developing advanced recycling market, and is a great complement to Agilyx’s existing activities. We´re looking forward to working closely with GreenDot´s talented management and world-class shareholders on this transformative opportunity.”
Ranjeet Bhatia, CEO of Agilyx
“We very much welcome Agilyx as a new GreenDot shareholder. Agilyx’s investment and the business synergies we will develop between two market leaders across the Atlantic will strengthen our ability to act as a preferred partner of brands and actors in the plastic packaging value chain. The new capital injection will support expansion of facilities in Germany, Austria, and Italy and is additional evidence of GreenDot’s commitment to scaling the circular economy of plastic in Europe.”
Laurent Auguste: CEO of GreenDot
