Paprec Buys Convertini Majority Stake for Italian Expansion

French waste management giant Paprec has secured a majority stake in Italian industrial waste specialist Convertini, marking a significant expansion into the Italian circular economy sector. This strategic move by Paprec aims to bolster its presence in Italy, a market identified for its substantial industrial output and increasing demand for sustainable waste solutions.

Convertini, a Lombardy-based firm with approximately €20 million in revenue in 2024 and a workforce of around 80 employees, has established itself as a key player in the non-hazardous industrial waste treatment and recovery segment. The company excels in processing complex waste streams, facilitating the reintegration of secondary raw materials into production cycles, thereby championing circular economy principles within Northern Italy's manufacturing heartland.

The acquisition aligns with Paprec's international growth strategy, leveraging Convertini's established operational footprint and expertise. This partnership is expected to accelerate Convertini's development, enabling greater investment in technological innovation and service expansion. Ivan Convertini, representing the founding family, expressed optimism about this new phase, highlighting the value of an international partner in driving future growth.

The European waste management sector is undergoing significant consolidation, driven by stringent environmental regulations and the evolving needs of industrial supply chains. Companies with robust industrial scale and investment capacity are increasingly sought after. Paprec's acquisition of Convertini exemplifies this trend, creating a more integrated platform capable of addressing these complex market demands.

This transaction underscores the growing importance of cross-border M&A in the environmental services industry. The Italian waste management market, valued in the billions and projected for steady growth, presents fertile ground for international players seeking to enhance their capabilities in recycling and resource recovery. Paprec's entry signals a commitment to developing advanced circular economy solutions within the region.

Financial advisory for Convertini was provided by Livingstone Partners, with a team including Luca Maccagnani Castelli, Emily Favaretto, and Mattia Verde. Legal counsel for the seller was handled by Russo De Rosa, led by Gianmarco Di Stasio and Sergio Mori. Paprec received legal guidance from Pirola Pennuto Zei, with Maurizio Bernardi and Alessandra Azzoli leading the legal team.