Eco Baltia has completed the acquisition of the hazardous waste collection and processing company Eko Osta
The largest environmental resource management and recycling company in the Baltics, JSC (AS) Eco Baltia, has finalized the acquisition of 100% of the capital shares of Latvia's leading hazardous waste collection and processing company, Ltd. (SIA) Eko Osta, thereby expanding its range of environmental services.
Eco Baltia Chairman of the Board, Māris Simanovičs, stated: "The inclusion of a hazardous waste collection and processing company in the Eco Baltia group is a significant step towards expanding our range of services and realizing our development strategy by incorporating more types of waste into our management portfolio for recycling. The acquisition of Eko Osta opens new possibilities for the country to ensure a more effective waste management cycle in segments where meeting regulatory standards has previously been challenging. We are pleased with this transaction, which will enable us to provide an even broader and higher-quality service range to Eco Baltia group clients."
Eko Osta specializes in waste management and recycling, collection, transportation, purification, and processing of oil-contaminated water, environmental remediation, and quality monitoring. Additionally, the company handles waste generated by ships, including the treatment of oil waste collected in the ports of Riga, Skulte, Salacgrīva, Engure, Lielupe, and Mērsrags. As part of the waste management services provided by Eko Osta, various types of hazardous waste are collected, transported, and managed.
The acquisition was carried out through Oil Recovery, a subsidiary of the Eco Baltia Group company Latvijas Zaļais punkts.
Following the transaction, Eko Osta has become one of the environmental management sector companies within the Eco Baltia group, specializing in hazardous and environmentally harmful waste management. No changes are planned for the existing contracts and collaborations with clients, partners, and employees of both parties.
About JSC Eco Baltia
Eco Baltia group is the largest environmental and waste management group in the Baltics, providing the full-cycle waste management solutions from waste collection and sorting to secondary raw material logistics, wholesale and raw material processing as well as PET and PE/PP plastics recycling.
Eco Baltia closed 2023 with a consolidated turnover of EUR 218.4 million, an increase of 4% compared to 2022. Eco Baltia's total combined sales revenue (pro-forma) in 2023 amounted to EUR 242.5 million.
The Group has more than 2.700 employees in Latvia, Lithuania, Poland and the Czech Republic. Its leading companies are ITERUM JSC (until 6 June 2024 - PET Baltija), Eco Baltia vide, Latvijas Zaļais punkts, Nordic Plast, JUMIS, Sigulda, TESIL Fibres, TESIL Fibres, UAB Ecoservice, based in Lithuania, and, from November 2023, Metal Plast, based in Poland, and from October 2024, Eko Osta, in Latvia.
The shareholders of Eco Baltia are the private equity fund INVL Baltic Sea Growth Fund (52.81% through UAB BSGF Salvus), the European Bank for Reconstruction and Development (30.51%) and Māris Simanovičs (15.93% through SIA Enrial Holdings and 0.75% through Penvi Investment Ltd).
About Eko Osta:
Eko Osta is a waste manager and recycler of environmentally harmful and hazardous waste. The company was registered in 1999 and its service portfolio consists of collection, transportation (floating vehicles, land vehicles), treatment and recycling of petroleum contaminated waters and soil, recycled lubricating oils, organic solvents, collection and transportation of used tyres, geological, hydrogeological, geo-ecological and geotechnical surveys and other services.
Additional information:
Alise Zvaigzne
Head of Public Relations
Eco Baltia
Phone +371 28780467
alise.zvaigzne@ecobaltia.lv
www.ecobaltia.lv
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