Pemberton, a European private debt manager transforming traditional credit markets, backed by one of Europe’s largest insurers, Legal & General Group, has arranged and underwritten a EUR265 million bond to support circular economy and recycling leader ReLife Group’s growth via acquisitions.
ReLife is a leading private Italian circular economy player focused on recycling of urban and industrial dry waste. Xenon Private Equity is its largest shareholder. The company’s 18 production sites are located in Liguria, Piedmont, Lombardy, Veneto and Tuscany, with activities organised into four divisions: recycling, paper mill, paper packaging and plastic packaging.
The financing is aimed at funding the acquisition of Gruppo Plastipolver, specialised in the treatment and recycling of plastics, as well as of Gruppo General Packaging, a producer of cardboard boxes made of recycled paper.
The investment in ReLife is a great example of the positive ESG screening Pemberton undertakes with new investment opportunities. As a leader in waste recycling and the circular economy in Italy, ReLife is driving the concepts of sustainability and the responsible use of resources. The financing will also provide further resources to support future acquisitions.
Francesco Di Trapani, Senior Advisor at Pemberton, says: “We are delighted to support the growth of ReLife, a leading player in the circular economy space in Italy with a unique business model. ReLife provides its clients with new products made through the treatment of their own waste, implying a radical shift from traditional waste management to environmental impact minimisation and sustainability.”