Agilyx ASA (Agilyx) is raising its ownership of the sourcing, sorting, and supplying plastic waste for recycling platform, GreenDot Global S.à.r.l. (GreenDot). Now, the company will own 50.1% of GreenDot. The platform is expected to generate around EUR 375 million in revenue and over EUR 22 million in EBITDA this year.
Agilyx ASA
Agilyx ASA increases ownership of GreenDot Global to 50.1%
The agreement will see Lafor and Agilyx jointly acquire all Circular Resources’ shares (19.1%) in GreenDot. As a result, Agilyx’s shareholding will increase from 46% to 50.1%, while Lafor’s will increase from 34.9% to 49.9%. Additionally, Agilyx CEO Ranjeet Bhatia will serve as Chairman of GreenDot.
Agilyx arranged a EUR 4.7 million share purchase financing facility for the acquisition. This facility carries a 7% interest rate, with an expected duration of around six months, providing full funding for the purchase without a near-term cash impact on Agilyx.
“Lafor has been a valuable partner at GreenDot, and we’re excited to continue working together to build the EU’s leading waste plastic recycling platform,” said Peter Norris, Chair of the Agilyx Board. “Consolidating GreenDot’s accounts will provide our shareholders with better financial transparency and strengthen our partnership.”
The transaction received the required support of 2/3rds of the voting bonds under Agilyx’s EUR 40,000,000 Subordinated Convertible Bonds 2025/2028.
