Eco Baltia, the largest environmental resource management and recycling group in the Baltics, together with the leading private equity fund in the Baltic States INVL Baltic Sea Growth Fund, has increased its stake in Metal-Plast, Poland's largest PVC window and door frame recycling company, from 70% to 83%. The transaction was completed by investing EUR 2.2 million in the company’s capital.
This capital increase strengthens Metal-Plast’s balance sheet and provides the resilience needed to navigate current market conditions.
"The European plastics recycling sector is currently facing significant challenges, and this additional capital provides Metal-Plast with the necessary financial resilience to navigate this more difficult period," says Vytautas Plunksnis, Partner at INVL Baltic Sea Growth Fund and board member at Metal-Plast.
“As the largest environmental management and recycling group in the Baltics, we can provide our businesses with a stable platform and targeted investments even in volatile market conditions. This helps maintain competitiveness, improve performance, and consistently expand recycling capacity over the long term,” says Jānis Aizbalts, Head of the Environmental Sector at Eco Baltia and Chairman of the Supervisory board at Metal-Plast.
Metal-Plast modernization to increase production capacity
This year, Metal-Plast has commissioned a modern wet grinding and separation line, which will enable the recycling of old window profiles on an unprecedented scale. With its help, it is expected to increase production capacity by 7,000 tons per year. The technology enables efficient removal of contaminants (including glass, metals and rubber), improves PVC material purity and increases the recovery of high-value PVC from the same amount of input material.
“Through the Recobud joint venture with Saint-Gobain and PreZero, we are enabling industrial-scale processing of post-consumer PVC windows, materially strengthening our capacity and cost structure. This is a structural step-change for the business, embedding ESG directly into our operating model while creating scalable, long-term value for both customers and investors.” said Tomasz Rycak, CEO of Metal-Plast.
About Eco Baltia
The 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, PE/PP and PVC plastics recycling.
The Eco Baltia group concluded 2024 with its highest ever consolidated turnover, reaching 262 million euros — a 20% increase compared to 2023.
The group’s companies in Latvia, Lithuania, Poland and Czech Republic have more than 2,600 employees. The largest of the companies the group owns are Eco Baltia vide, Latvijas Zaļais punkts, Nordic Plast, Oil Recovery, and ITERUM in Latvia, Metal-Plast in Poland, TESIL Fibres in Czech Republic, and Ecoservice in Lithuania.
The shareholders of Eco Baltia are the INVL Baltic Sea Growth Fund (52.81%), the European Bank for the Reconstruction and Development (30.51%) and Māris Simanovičs (15.93% through SIA Enrial Holdings and 0.75% through Penvi Investment Ltd).
About the INVL Baltic Sea Growth Fund
With a fund size of EUR 165 million, the INVL Baltic Sea Growth Fund is one of the leading private equity funds in the Baltics. Its anchor investor is the European Investment Fund (EIF), which is a part of the European Investment Bank and committed EUR 30 million with the support of the European Fund for Strategic Investments (a key element of the Investment Plan for Europe, or the Junker Plan) while also allocating resources from the Baltic Innovation Fund (a “fund of funds” initiative developed in cooperation with the governments of Lithuania, Latvia and Estonia, to increase capital investment in high-growth potential small and medium-sized enterprises in the Baltics). The fund is managed by INVL Asset Management, the leading Baltic alternative asset manager, which is a part of the Invalda INVL Group with over 30 years of experience. The group’s companies manage or have under supervision more than EUR 2 billion in assets across various investment strategies, including private equity, forests and agricultural land, renewable energy, real estate, and private debt. Additionally, the group provides family office services in Lithuania, Latvia and Estonia, manages pension funds in Latvia, and invests in global third-party funds.
About “Metal-Plast”:
Metal-Plast is a Poland-based company that is market leader in recycling rigid PVC material—primarily window and door profiles—since 1993. The company cooperates with more than 700 window and door manufacturers and is capable of recycling approximately 30,000 tons of material per year, producing high-quality recycled PVC raw materials.