Clearwater International advises Stena Metall Group on the sale of its cools recycling business to Quantum Capital Partners

Clearwater International has advised Stena Metall Group (Stena Metall) and its subsidiary Stena Recycling, a leading company in recycling and processing of metals, paper, electronics, hazardous waste, and chemicals, on the sale of Stena Recycling GmbH (Stena Recycling Germany) to Quantum Capital Partners GmbH (Quantum). Following the carve-out and with effect from the transaction, Stena Recycling Germany operations were renamed to Rekular GmbH (Rekular).

Swedish-based Stena Metall is a leading recycling company and has seven business areas and operations at around 200 locations in nine countries. Its operations include the production of aluminium from recycled material, the supply of steel products, financial operations and international trading in steel, ferrous and non-ferrous metals, and oil. Each year, six million tons of waste and end-of-life products are recycled and refined by the group, and customers are supplied with many essential raw materials, steel products and marine fuels. Stena Metall employs approximately 3,600 professionals and generated net sales of €2,6bn in the fiscal year 2020/21. Through research and development, Stena Metall is working to meet the challenges of the future with new, sustainable solutions and closely collaborates with partners and customers in creating value, both from the business perspective, as well as for the environment and society.

Before the divestment, Stena Recycling Germany had its headquarters in Lauingen, Germany, and was one of the leading full-service providers of recycling services for cool and heat exchange equipment in Germany. The company operated three strategically located plants throughout Germany in Bavaria, Rhineland-Palatinate, and Lower-Saxony with a total workforce of approximately 140 employees and services offered in particular to blue-chip producers of cools. The company’s service offering covered all relevant services along the cools recycling value chain, including collection, depollution, shredding and separation of marketable ferrous and non-ferrous fractions.

Quantum is a manager of funds who invests in corporate carve-outs and other special situations across Europe. The Quantum operations are managed through its Munich Headquarters, as well as its office in Madrid. Quantum acquires companies with significant potential for operational improvements, growth, and development. As an active and responsible owner, Quantum Group works closely with local management to ensure that its subsidiaries implement a continuous development plan and growth strategy.

The divestment is part of Stena Metall’s strategic review where the company has decided that the direction for growth in Germany needs to change and where Germany has been identified as a strategically important market for further investments in battery recycling. Together with the existing management team, Quantum plans to further expand Stena Recycling’s footprint in electronics recycling through buy and build.

„Stena Recycling’s refrigerator recycling operations have 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 its strategic goals.“ – Kristofer Sundsgård CEO, Stena Recycling
„It was a great pleasure to work with Stena Metall on this transaction. In a world that is increasingly striving for sustainability, we expect the business to further grow at a high pace with Quantum’s support and wish the team all the best.“ – Markus Otto, Managing Partner, Clearwater International

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