Investment and expansion plans position Repeats as a leader in low-density polyethylene recycling in Europe
AMSTERDAM, June 1, 2022 /PRNewswire/ -- Repeats Group B.V. ("Repeats"), a pan-European plastics recycling platform focused on producing high-quality recycled low-density polyethylene ("LDPE"), today announced that it has made an investment in Daly Plastics ("Daly Plastics," "Daly" or the "Company"), a producer of recycled LDPE located in the eastern part of the Netherlands, near Apeldoorn. Financial terms of the transaction were not disclosed. Repeats is a portfolio company of Ara Partners ("Ara"), a global private equity firm focused on industrial decarbonization.
Repeats' investment in Daly Plastics is an important step in building a pan-European plastics recycling platform. Under Repeats' leadership, Daly plans to nearly double its production capacity to meet the growing demand for recycled LDPE in Europe. The Daly investment builds on Repeats' initial base in Spain, with expansion to other European countries envisioned for later this year.
Daly Plastics utilizes a mechanical process to transform plastic waste from commercial, industrial and agricultural sources into resin suitable for commercial and industrial applications. Daly Plastics, which has supplied recycled LDPE resin to leading customers for over 35 years, is led by Peter Daalder, who has worked at Daly Plastics since its creation in 1985. Mr Daalder will continue leading the Dutch operations and its expansion plans.
"Daly Plastics has an outstanding reputation in the industry as a leading LDPE recycler in the Netherlands and Western Europe," said Greg Rung, Repeats' CEO. "We are thrilled to have Peter Daalder and his team join Repeats and look forward to building on their success to date. We see significant opportunity for Daly Plastics to continue to penetrate the Dutch and German markets while being able to serve more international clients thanks to higher-quality plastic flakes produced with the latest technology available."
"We are excited to partner with Repeats and Ara to further expand our operations and geographic reach," said Peter Daalder, CEO of Daly. "We share Repeats' ambition to become a leading LDPE recycler in Europe and view our efforts as mission-critical to establish a circular solution for the growing plastic waste problem in Europe."
"We are very impressed with the business that Peter, his family and the entire Daly team have built," said Tuan Tran, a Partner at Ara Partners. "The Repeats platform is well positioned for rapid growth and we envision building the largest independent producer of recycled LDPE resins in Europe. Our investment in Daly Plastics will have a meaningful impact on our continuous efforts to decarbonize the European plastics market."
Based in the Netherlands, Repeats — Recycled PE AT Scale — is a pan-European plastics recycling platform transforming polyethylene ("PE") plastic waste into resin suitable for a variety of commercial and industrial flexible plastic applications. Repeats has also invested in Anviplas, a LDPE recycler based in Catalonia in December 2021. For more information on Repeats, please visit www.repeats-group.com.
Founded in 1985 and based in Zutphen, Netherlands, Daly Plastics produces recycled LDPE from both from post-consumer and post-agricultural plastic waste which can be used in packaging applications. For more information on Daly Plastics, please visit www.dalyplastics.nl
Ara Partners is a private equity firm specializing in industrial decarbonization investments. Ara Partners invests in the industrial & manufacturing, chemicals & materials, energy efficiency & green fuels and food & agriculture sectors, seeking to build businesses that provide significant decarbonization impact. It operates from offices in Boston, Massachusetts, Houston, Texas and Dublin, Ireland. Ara Partners closed its second fund with approximately $1.1 billion in capital commitments in September 2021. For more information on Ara Partners, please visit www.arapartners.com
ContactsMark Semer / Alex JeffreyGasthalter & Co. LP.arapartners@gasthalter.com(212) 257-4170
