The Norsk Gjenvinning (NG) Group acquires Mirec Recycling Solutions AB, the leading Swedish player in recycling and reuse of electrical equipment, from TSR Recycling GmbH & Co. KG
Mirec Recycling Solutions AB (“Mirec”) is a Swedish company with a long history and expertise in recycling and reuse of electrical products (EE-waste). The acquisition is in line with the Norsk Gjenvinning Group’s strategy to strengthen its presence in the Nordics as well as establishing a leading position in the market segment for EE-waste.
The NG Group is a leading Nordic company within recycling and circular economy, with operations in Norway, Sweden, Denmark and the UK in areas such as recycling, rehabilitation and demolition, industrial cleaning, household renovation, security shredding and mass handling. The acquisition of Mirec will be done by the Group’s metals recycling division, with headquarters in Øra, Fredrikstad in Norway.
- We are very happy to welcome the expertise and know-how from Mirec into our operations. We believe there will be synergy effects of combining our two companies, enabling us to take a stronger role in the Swedish market. We are building on our current leading position in industrial handling and recycling of scrap metals, operating the largest metal shredder in Norway. By including Mirec we further strengthen our market presence and position in the growing segment for recycling and reuse of EE-waste, says Claes Merborn, Division Head of Metals.
CEO of the NG Group, Astrid Skarheim Onsum emphasizes how the acquisition fits well with the goals of the Group moving forward:
- The aim of the NG Group is to play a key role in accelerating the world’s circular economy and working towards UN sustainability goals. For us that includes keeping components in the value chain for longer and to improve recycling rates. By welcoming Mirec to our Group, we continue to grow our expertise in the EE-waste segment, she says.
Managing Director of Mirec, Jesper Nyberg, looks forward to becoming part of the NG Group to keep building and increasing the market share.
- We are pleased to now become part of the NG-family. We are impressed by their journey and the standing of the company in the Norwegian market. We are convinced that by combining our expertise we will be able to further grow in the Scandinavian market, says Jesper Nyberg, Managing Director of Mirec.
Mirec’s yearly revenue is 260 MSEK, and as of today, most of Mirec’s operation is within the field of recycling of electrical equipment, however with increased focus on reuse. The NG Group’s plan is to continue Mirec’s current operations and support further growth and reuse.
Managing Director Jesper Nyberg will continue in his current role, and the organization will carry on following the ownership change. The Mirec name will be rebranded in line with the Norsk Gjenvinning Group branding policy.
Mirec is acquired from TSR Recycling GmbH & Co. KG (“TSR”), a leading European metals recycling company and part of the REMONDIS Group.
- We are happy to have come to an agreement with the Norsk Gjenvinning Group. It has been important for us to make sure Mirec is able to benefit from a new ownership and we believe this will further strengthen Mirec’s position in the Swedish market for recycling and reuse of EE-waste, says Christian Thielen, CFO at TSR Recycling GmbH & Co. KG
The transaction is expected to be closed on 01.11.2021.