Paprec Buys Convertini Stake, Enters Italian Market

French waste management leader Paprec has solidified its European footprint by acquiring a 70% majority interest in Convertini, an Italian firm specializing in industrial waste handling. This strategic move, valued at approximately 15 million euros, marks Paprec's official entry into the Italian market, a region identified as a key growth territory due to its robust industrial base.

The acquisition targets Convertini, a Milan-area based company established in 1984. With annual revenues hovering around 20 million euros, Convertini focuses on the collection and sorting of non-hazardous industrial waste. The founding family will continue to hold a minority stake, signaling a collaborative approach to future operations under Paprec's stewardship. Ivan Convertini, representing the management, will likely play a crucial role in integrating the business.

Paprec's CEO, Mathieu Petithuguenin, emphasized the strategic importance of Northern Italy's industrial concentration. "Northern Italy is a very industrialized zone," he stated, underscoring the significant demand for advanced recycling and waste management solutions that Paprec is well-positioned to meet. This acquisition aligns perfectly with the company's international expansion objectives.

This transaction is a significant step in Paprec's ambitious growth trajectory. The company reported impressive 2025 revenues of 3.5 billion euros, a 17% increase year-over-year, with international operations contributing 600 million euros. For 2026, Paprec is targeting 4 billion euros in total revenue, with international markets projected to be the primary engine for this growth. The company has set a bold objective of generating 1 billion euros in annual revenue from its international ventures.

The waste management and environmental services sector is experiencing substantial global expansion, driven by increasing regulatory pressures, corporate sustainability initiatives, and a growing circular economy focus. The European market, in particular, is seeing consolidation as larger players seek to leverage economies of scale and technological expertise across borders. Paprec's move into Italy positions it to capitalize on these trends within one of Europe's largest industrial economies.

Convertini, advised by Livingstone Partners on the transaction, represents a valuable asset for Paprec. Its established operations and regional expertise in Lombardy provide an immediate operational base. This acquisition is expected to enhance Paprec's service offerings and market share in Italy, potentially paving the way for further strategic investments and organic growth within the country and the broader Southern European region.