As part of a strategic review of the Group, the German refrigerator recycling business of Stena Recycling GmbH is being divested. The buyer is German Quantum Capital Partners. Going forward, Stena Recycling's operations in Germany will focus on growth within collection, processing, and recycling of batteries.
“We see Germany as a strategically important market for our battery recycling investments, mainly because there are a number of major car manufacturers in the country that are in the forefront in developments within electrification. We currently have one battery center in place in Germany and plan to grow significantly over the next few years," says Kristofer Sundsgård, CEO of Stena Recycling Group.
“Stena Recycling's refrigerator recycling operations has been part of the Stena Metall Group for a long time and has contributed to the customer offering in Germany. In the strategic review of the Group's operations, we have seen that the direction for growth in Germany needs to change and that refrigerator recycling is no longer part of the long-term strategy. With Quantum Capital Partners as the new active owner of the refrigerator recycling business, we are convinced that the business can continue to develop in a better way to achieve the strategic goals,” Kristofer Sundsgård continues.
The business will be transferred to the new owners as of 1 March 2022. The company intends to change its name to Rekular GmbH in the near future.
Quantum Capital Partners is a fund manager based in Munich. Quantum focuses on businesses with high potential for growth and development. Quantum is an active owner working closely with local management.