The Olivieri family signed an agreement for the sale of the majority stake in Euro-cart to Hamburger Recycling (a subsidiary of the Prinzhorn group, based in Austria).
Euro-cart, located in Cornedo Vicentino (Vicenza), is focused on non-hazardous industrial waste collection and disposal (mainly paper, cardboard and plastic packaging). The company has 130 employees and 3 plants located in Vicenza (including Berica Recuperi plant), with a total authorized capacity of over 230k tons/year and a turnover of over € 40m.
Hamburger Recycling is the subsidiary of Prinzhorn Group focused on secondary raw material collection and trading. The Group has over 10,000 employees in 16 countries and a turnover of € 2.9bn in 2022 and is a European market leader in the packaging, paper and recycling industries.
The transaction is part of the Prinzhorn Group international growth plan. It enables the Group to enter the Italian market and to speed up the Euro-cart growth strategy.
Corus Corporate Finance assisted the Olivieri family as financial advisor in the scouting process of potential partners, negotiation and in all stages of the transaction.