Silverfleet Capital, the Pan-European private equity firm that specialises in buy-to-build, has entered into a binding contract to acquire German designer and manufacturer of high quality progressing cavity and twin-screw pumps Pumpenfabrik Wangen GmbH (Wangen). Silverfleet will acquire a majority stake from the company’s individual private shareholders.
Silverfleet Capital’s investment will enable Wangen to continue to grow internationally, further penetrate the company’s key end markets with new product portfolios, as well as diversify across industries using Wangen’s leading technologies and product innovation capabilities. As part of the acquisition, Silverfleet Capital has assembled a high quality and experienced management team who will be responsible for executing Wangen’s international growth strategy.
EC plastic strategy
Environmental consultancy Eunomia has been appointed alongside partners ICF to help develop the evidence base for the European Commission’s upcoming Plastics Strategy. The new research will look at ways to improve plastic recycling rates and reduce the industry’s reliance on virgin materials. There is also growing concern about the 12.2 million tonnes of plastic entering the marine environment annually, and what harmful effects discarded plastics are having on communities and ecosystems. The research will be used to inform the European Commission’s Plastic Strategy expected at the end of 2017.
Recycling Technologies has closed a recent funding round in record time raising £5 million and the company is now actively on the lookout for further sites for its breakthrough chemical recycling machine. The company uses its chemical technology to recycle residual plastic waste back into a valuable low sulphur hydrocarbon product called Plaxx, which can be used as a feedstock for new polymer and wax manufacturing, replacing fossil-fuel derived raw materials and propelling plastics into the circular economy.
By combining mechanical and chemical recycling and working them in synergies, virtually all plastics from households, offices and shops can be recycled, even materials that previously have been regarded as unrecyclable.