The ECORE-GDE group, number two in recycling in France behind Derichebourg, opens its capital to the investment fund HIG Capital, one of the world's leading private equity players. The recently signed agreement provides for the fund to acquire a 49% shareholding in the capital of the group. The transaction should enable the company to continue its commercial development and its growth in new markets.
Ecore currently employs over 1,360 people and recycles nearly 3 million tons of materials each year, including more than 2.6 million tons of ferrous metals. This activity generated revenue of 1.1 billion euros last year. ECORE-GDE aims to collect end-of-life materials as well as to treat waste, transport and market new recycled raw materials. In order to maintain its growth, it intends to pursue its global expansion.