Finnish company Metso Outotec completed the divestment of its Waste Recycling business to Helsinki-based Ahlström Capital’s fully owned investment company Ahlstrom Capital BV Dec. 1. Under Ahlström, the business will operate under the name M&J Recycling and will be headquartered in Horsens, Denmark. The planned sale was announced in mid-July.
The company specializes in the design and manufacture of industrial waste shredders and has more than 1,000 installations worldwide.
Uffe Hansen, previously a member of Metso Outotec’s executive team (MOET), will continue to head M&J Recycling, therefore his employment at Metso Outotec and as a member of MOET will end.
All current employees of the business, approximately 120 people, have transferred to the new company in connection with the transaction.
“M&J Recycling is well-positioned to drive sustainable development in our portfolio,” says Lasse Heinonen, president and CEO of Ahlström Capital, in a news release from the company announcing the closing of the transaction. “Ahlström Capital invests in companies that can develop into leaders in their own industry, and we see good value creation potential in M&J Recycling.”
He adds, “We want to welcome Uffe Hansen and his team, as well as the new Chairman of the Board Carsten Nygaard Knudsen to the Ahlström Capital network.”
Hansen says, “With Ahlström Capital as the new owner of M&J Recycling, we can unleash the full potential of our business. We have been showing strong growth over several years, and the recycling business is booming. We can now increase our focus and investments in both market presence, portfolio and organization to support both organic and inorganic growth going forward.”