Investment in innovative recycling
Strategic Investments /08.04.2019
Kirk Kapital acquires a third of the shares in Scanmetals A/S. Scanmetals is a recycling company using an innovative and sustainable technology for optimal utilisation of metallic waste from incineration plants.
Scanmetals is the global market leader within recycling of metallic waste from incineration ash. Scanmetals owns and operates recycling plants in Slagelse, Denmark and Birmingham, United Kingdom. The transaction will provide Scanmetals with additional growth capital to continue expanding its operations in Denmark and abroad.
CEO of Kirk Kapital, Kim Gulstad, calls the partnership with Scanmetals a great case of how Kirk Kapital would like to invest in companies.
“The transaction with Scanmetals is a prime example of our unique partnership strategy. In this situation we partner up with a well-managed owner-led company with high growth potential. We believe that the competence and innovation at Scanmetals are essential in an efficient recycling system. Our vision is that Scanmetals will put Denmark on the map as a leading country within metallic waste recycling. We are strong believers in investing into growing companies operating within the circular economy,” says Kim Gulstad, adding that the value of the transaction not will be disclosed.
“But the investment is in the three-digit-million range,” says Kim Gulstad.
Ejvind Pedersen, founder and CEO of Scanmetals, members of management and a group of founding investors retain the ownership of the remaining two thirds of the shares in Scanmetals following the transaction. Ejvind Pedersen is pleased to bring Kirk Kapital on board.
“I founded Scanmetals in the summer of 2009 based on an innovative process for extracting metals from incineration waste. Ever since we have experienced tremendous demand for the services we are providing. In 2016 we took a leap forward when we decided to open a plant in the United Kingdom. The investment form Kirk Kapital is a milestone in our journey and I am looking forward to expanding Scanmetals further into Europe together with Kirk Kapital as a shareholder and partner”, says Ejvind Pedersen.
Scanmetals is currently expanding its facility in Denmark. The expansion is expected to be completed in Q3 2019. Following the expansion, the Scanmetals group will be able to recover more than 30,000 tonnes of metals yearly from incineration waste.
Kirk Kapital is an active minority investor looking to actively support the companies it invests in. In connection to the transaction Andreas Faerk, CIO at Kirk Kapital, will join the Board of Directors at Scanmetals.
Scanmetals is a recycling company based on an innovative and sustainable technology for recovering and refining metallic waste from incineration plants. Scanmetals actively contributes to a society where we “Reduce, Reuse and Recycle” our waste products. Scanmetals has operations in Slagelse, Denmark and Birmingham, United Kingdom and is the global market leader within recycling of metallic waste from incineration ash. Scanmetals yearly recovers approx. 30,000 tonnes of metals from incineration waste.
Ejvind Pedersen, CEO of Scanmetals, +45 40 26 58 30
Morten Huse Eikrem-Jeppesen, PressConnect for Kirk Kapital, +45 53 85 07 70