Nordic Capital has signed an agreement to acquire Sortera, the fastest growing environmental services provider of focused recycling and waste solutions in Sweden. Sortera has grown by assisting both the environmental and operational performance of its customers. Nordic Capital intends to accelerate Sortera’s ongoing international expansion and further strengthen its sustainable service offering.
Sortera is a fast-growing Nordic environmental contractor within collection, recycling, processing and broking of residual products from the building and construction sector. Sortera operates primarily within the B2B SME segment in Sweden and Finland through its three business areas: Recycling (RMI construction recycling services), Materials (End-to-end environmental solutions for waste and water) and Industry (Industrial removal of bulk materials and liquids). Through its operations, Sortera contributes to a circular economy in construction – the second largest recycling opportunity globally after the mining industry. The Company’s services enable the increased use of old materials in new construction, reducing the need for raw materials and hence Greenhouse Gas (GHG) emissions. Sortera is based in Stockholm, Sweden and has recently expanded into Finland. Since its inception in 2006, the Company has grown to become one of the market leaders in Sweden by focusing on environmental concerns, and by offering its customers increased flexibility, high reliability, short lead times, excellent quality, and superior customer support. Sortera has circa 420 employees and revenues of approximately SEK 1.4 bn in 2020.
Nordic Capital is an active owner with deep experience in growing industrial and business services companies, in which it selectively invests. By closely following the sector, Nordic Capital has gained significant knowledge of the construction recycling industry where it sees strong potential for growth. Nordic Capital has strong credentials in ESG and sustainability lies at the heart of its investment strategy. The ambition is to contribute operational and financial resources to support Sortera’s, international sustainability journey in close partnership with the Company’s management team and founder Conny Ryk.
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