Remondis buys industrial cleaning company Reym from Renewi

German waste market leader Remondis reports yet
another takeover, this time in the Netherlands
10.09.2019 − 

Remondis is expanding its presence in the Netherlands. On Monday, the company entered a binding agreement with the waste management group Renewi to acquire the industrial cleaning specialist Reym B.V. The takeover, which is still subject to antitrust approval, will be retroactive to 1 April 2019. With the sale, Renewi said that it wanted to " sharpen the focus on core Benelux recycling operations". 

According to Renewi, the agreed purchase price for Reym corresponds to an enterprise value of €64m including "a number of debt-like items". Upon completion of the transaction, the Dutch-British waste management group is to receive a cash consideration of €50m.

In the 2018/19 business year, which ended on 31 March, Reym generated revenue of €129m and operating earnings of €4.5m, according to Renewi. Headquartered in Amersfoort, Reym specialises in industrial cleaning for companies in the oil, gas and chemicals industries. Additional customer groups include utilities, the construction and food industries and waste incineration plant operators. In addition to cleaning, Reym is also involved in waste transport and management.

Remondis' Maintenance & Services division is using the opportunity presented by the Reym purchase to expand and round out the range of industrial services it offers. Remondis is expecting synergies particularly through the cooperation of Reym with its existing subsidiary Buchen Umweltservice. "In addition, the acquisition will put existing activities in the Netherlands on a broader regional footing,” Remondis said.

Will Remondis snap up AEB too?

Dutch media also see Remondis as a potential investor for the ailing waste incineration plant operator AEB Amsterdam, with both a full acquisition and a partial takeover mentioned in reporting as possibilities.

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