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Germany-based PreZero International has completed the acquisition of Cespa S.A., formerly known as Ferrovial Environmental Service, in Spain and Portugal. Cespa S.A., a waste and recycling business, recycles about 8 million metric tons of recyclables per year for private and public customers. The company also provides biowaste, plastics and compost recycling services and operates a plant in Spain that produces biogas from organic waste.
The acquisition was first announced earlier this summer.
Along with the merger control procedure and following the approval by the European Union Commission, about 16,000 new employees at about 140 sites are included in the acquisition, PreZero reports in a news release on the transaction.
“As the environmental division of the Schwarz Group, we are steadily expanding our role as a major driver of the circular economy in Europe,” says Thomas Kyriakis, CEO of PreZero. “With the acquisition in Spain and Portugal, we are successfully following this path and want to contribute to closing further recycling loops in the future with innovative solutions.”
As a result of this acquisition, PreZero now has a presence on the Iberian Peninsula. “Cespa fits perfectly into our existing portfolio,” adds Gerald Weiss, managing director of PreZero International. “We are particularly looking forward to the valuable expertise and innovative spirit of the new employees, with whom we want to jointly advance the vision of a clean and livable environment.”
PreZero employs about 30,000 people at 430 sites in Germany, Poland, the Netherlands, Belgium, Luxembourg, Sweden, Austria, Italy, Spain, Portugal and the U.S.