Repeats Group invests in Polimero SRL and becomes one of the leading LDPE plastic recyclers in Europe
Amsterdam, the Netherlands, 30 August 2022- Repeats Group B.V. (“Repeats”), a pan-European plastics recycling platform focused on the production of high quality recycled low-density polyethylene (“LDPE”) from post-industrial and commercial films, announced today that it has made an investment in Polimero Srl (“Polimero” or the “Company”), a producer of recycled LDPE located in northern Italy, close to Venice. The financial terms of the transaction were not disclosed. Repeats is a portfolio company of Ara Partners (“Ara”), a global private equity firm focused on industrial decarbonization.
Repeats’ investment in Polimero is an important step in building a pan-European plastics recycling platform. Under Repeats’ leadership, Polimero plans to continue to expand its production to meet the growing demand for recycled LDPE in Europe. The Polimero investment follows on from Repeats’ first two investments in Spain and the Netherlands, with expansion into other European countries planned for later this year.
Polimero uses a mechanical process to convert plastic waste from industrial sources into resin suitable for commercial and industrial applications. Polimero is led by Simonetta Tiberto, who has been with the company since 2010. Mrs. Tiberto will continue to lead the Italian operations and its growth plan.
”Polimero has a great reputation in the industry as an important player in the LDPE recycling environment in northern Italy” said Greg Rung, CEO of Repeats. “We are delighted that Simonetta and her team are joining Repeats and look forward to building on their success to date. We see a significant opportunity for Polimero to continue to penetrate the Italian market while being able to serve their clients with higher quality plastic pellets.”
”We are excited to partner with Repeats and Ara to continue to expand our business and geographic reach” said Simonetta Tiberto, CEO of Polimero. ”We share Repeats’ ambition to become one of the major LDPE recycling players in Europe. All our efforts are aimed at creating a circular ecosystem and best serving the manufacturers who increasingly require high quality recycled plastics.”
”We are very happy to start our operations in Italy and partner with Simonetta,” said Tuan Tran, Partner at Ara Partners. ”The Repeats platform is well positioned for rapid growth and we plan to build the largest independent producer of recycled LDPE resins in Europe. Our investment in Polimero allows us to enter the Italian market, […]. This will have a strong impact on our ongoing efforts to decarbonize the European plastics market.”
Founded in 2010 and based in Rovigo, Polimero produces recycled LDPE pellets from both post-commercial and post-industrial plastic waste, which can be used in packaging applications. For more information about Polimero, please visit https://www.polimerosrl.it .
Ara Partners is a private equity firm specializing in industrial decarbonization investments. Ara Partners invests in the industrial & manufacturing, chemicals & materials, energy efficiency & green fuels and food & agriculture sectors, seeking to build businesses that provide significant decarbonization impact. It operates from offices in Boston, Massachusetts, Houston, Texas and Dublin, Ireland. Ara Partners closed its second fund with approximately $1.1 billion in capital commitments in September 2021. For more information on Ara Partners, please visit www.arapartners.com .