Agilyx increases shareholding in GreenDot Global to over 50%

Agilyx ASA has entered into an agreement to raise its ownership in GreenDot Global, a prominent European platform for sourcing, sorting, and supplying plastic waste for recycling, to 50.1%.

Agilyx will meet the requirements to fully consolidate GreenDot’s financial statements, and upon closing of the transaction, will begin consolidation accounting. GreenDot is expected to generate approximately EUR 375 million in revenue and over EUR 22 million in EBITDA in 2026.

Under the agreement, Lafor and Agilyx will jointly acquire all shares in GreenDot currently held by Circular Resources (19.1%). Following the transaction, Agilyx’s shareholding will increase from 46% to 50.1%, while Lafor’s shareholding will increase from 34.9% to 49.9%. Agilyx CEO Ranjeet Bhatia will serve as Chairman of GreenDot.

To finance the acquisition of the additional 4.1% shareholding, Agilyx has arranged a EUR 4.7 million share purchase financing facility. This facility carries a 7% interest rate and an expected duration of about six months, providing full funding for the purchase without near-term cash impact on Agilyx.

Peter Norris, Chair of the Agilyx Board, commented,

“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. Consolidating GreenDot’s accounts will provide our shareholders better financial transparency and strengthen our partnership.”

GreenDot grew from the German Der Grüne Punkt—Duales System Deutschland (DSD) recyclables collection system. That collection network was purchased by equity investor H.I.G. Capital in 2011 and later sold to Luxembourg-based Circular Resources in 2022.

GreenDot is licensed in 29 countries and processes more than 1 million tons of packaging scrap per year, including more than 400,000 tons of plastic, according to Agilyx.