AMSTERDAM, Sept. 12, 2022 /PRNewswire/ — 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 marks its expansion into Italy, an important step in building a pan-European plastics recycling platform. It follows Repeats’ recent 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 into resin suitable for commercial and industrial applications. As part of Repeats, Polimero plans to continue expanding its production to meet the growing demand for recycled LDPE in Europe.
Polimero is led by Simonetta Tiberto, who has been with the company since 2010 and will continue to lead the Italian operations and execution of 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 see significant opportunity for Polimero to further penetrate the Italian market by providing its clients with higher quality recycled resin. We are delighted that Simonetta and her team are joining Repeats and look forward to building on their success to date.”
“We share Repeats’ and Ara’s ambition to build one of the largest LDPE recyclers in Europe,” said Simonetta Tiberto, CEO of Polimero. “We are excited to have Repeats’ support as we continue to expand our business and geographic reach. All our efforts are aimed at creating a circular ecosystem and best serving customers who increasingly require high-quality recycled plastics.”
“We are excited for Repeats to enter the Italian market and partner with Simonetta,” said Tuan Tran, Partner at Ara Partners. “The Repeats platform is well positioned for rapid growth and plans to become the largest independent producer of recycled LDPE resins in Europe. We are pleased to support Repeats in its ongoing efforts to decarbonize the European plastics market.”
Based in the Netherlands, Repeats – Recycled PE AT Scale – is a pan-European plastics recycling platform converting polyethylene (“PE”) plastic waste into resin suitable for a variety of commercial and industrial flexible plastic applications. Repeats also has operations in Spain and the Netherlands. For more information on Repeats, please visit www.repeats-group.com.
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 Home – Polimero Srl.
Ara Partners is a private equity firm focused on industrial decarbonization investments. Ara Partners invests in the industrial and manufacturing, chemicals and materials, energy efficiency and green fuels, and food and agriculture sectors, seeking to create companies with 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 about Ara Partners, please visit www.arapartners.com.