Agilyx acquires 44% of GreenDot, expanding into Europe’s recycling market and strengthening its global advanced plastics recycling platform.
Agilyx ASA has officially signed a binding and fully financed agreement to acquire a 44% equity stake in GreenDot Global S.à r.l., a move that significantly enhances its strategic positioning in Europe. This pivotal investment marks a major step forward in Agilyx's ambition to develop a robust global platform for sourcing and supplying feedstock to the rapidly advancing plastic recycling industry.
GreenDot Global stands as Europe’s foremost circular plastic recycling platform and is ranked as the third-largest recycling firm in Germany. The company operates across 29 countries and holds the title of the most widely recognized recycling brand in the European market. It handles over 1 million tons of packaging waste annually, with more than 400,000 tons comprising plastic materials. To support its future growth and enhance feedstock supply for advanced recycling, GreenDot is currently expanding its infrastructure by investing in new sorting facilities located in Austria and Italy.
Financial projections for GreenDot in 2025 indicate strong performance, with an estimated total sales volume of approximately EUR400 million and double-digit EBITDA margins. Agilyx CEO Ranjeet Bhatia emphasized the strategic significance of the acquisition, stating: “We are excited to extend Agilyx’s footprint into Europe and continue building a global platform dedicated to supplying feedstock to the plastic recycling sector. GreenDot is a leader in its field and brings tremendous momentum to the evolving market for advanced recycling. Their operations complement our activities well, and we look forward to partnering with their exceptional leadership and prominent shareholders.”
Laurent Auguste, CEO of GreenDot, also expressed optimism about the collaboration, noting: “We warmly welcome Agilyx as a shareholder. Their investment, along with the synergies we anticipate developing between our two companies, will strengthen our ability to be the go-to partner for brands and stakeholders throughout the plastic packaging value chain. This capital infusion will directly support our expansion initiatives in Germany, Austria, and Italy, and further demonstrates GreenDot’s commitment to growing a sustainable circular economy for plastics in Europe.”
The deal places GreenDot at a post-money enterprise valuation of EUR197 million. Agilyx will pay EUR52 million to acquire the 44% stake, structured as approximately EUR32 million in newly issued Agilyx shares—valued at a 30-day volume-weighted average price of 25.76 NOK per share—and roughly EUR20 million in cash. The share issuance includes a lock-up period through January 10, 2026, followed by a 90-day window limiting sales to 20% of the average daily trading volume.
To fund the acquisition, Agilyx secured a EUR20 million subordinated loan facility from existing investors. This loan will remain subordinate to the company’s outstanding senior secured bonds. Completion of the transaction is expected by late Q3 2025, pending several standard conditions, such as regulatory clearance under Germany’s foreign direct investment laws, lender consent for the change in control at GreenDot, and Agilyx shareholder approval for the issuance of the Consideration Shares. Voting undertakings sufficient to approve the transaction have already been secured ahead of the planned Extraordinary General Meeting.
