Schwarz subsidiary Prezero continues to expand

Schwarz subsidiary Prezero continues to expand

28.07.2021

The trading group's environmental division is to become active in Spain and Portugal following acquisitions from Ferrovial.

 

Prezero (Neckarsulm, Germany) has reportedly reached an agreement with Spanish construction group Ferrovial (Madrid) to take over environmental services in the two countries. The two companies said the transaction covers environmental services, waste collection, processing and recycling. As reported by Euwid, the purchase price is €1.133 billion, according to Ferrovial. The takeover, which still has to be approved by the antitrust authorities, would increase Prezero's annual sales to around three billion euros, which could make the Schwarz subsidiary one of the ten largest waste management companies in the world in the future. As Thomas Kyriakis, CEO of PreZero explains, the acquisition is "the next step in Prezero's expansion, with which we intend to further expand our activities in Southern Europe." Ferrovial, he said, is excellently positioned in the field of environmental management and ideally complements Prezero's portfolio. "From this we expect valuable synergies for the further development of the circular economy in Europe," Kyriakis added. Ferrovial Environmental Services reportedly employs around 16,000 people at 140 sites in Spain and Portugal. If antitrust authorities approve the deal, the acquisition is expected to be completed by the end of 2021. Prezero reportedly currently employs around 13,000 people at more than 280 sites in Germany, Poland, the Netherlands, Belgium, Luxembourg, Sweden, Austria, Italy and the USA. Apart from Prezero, Remondis and French waste management company Paprec were also reportedly interested in Ferrovial's environmental and waste management activities in Spain and Portugal.

 

Sources:

  • recyclingmagazin.de, euwid-recycling.de (27.7.2021)
  • Photo: © Prezero

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