The investment management company Avestis has acquired the Lithuanian waste management operations of Toensmeier for an undisclosed consideration.
Following the transaction, Avestis, which also owns recyclable waste collection and the trade company Eko Group in Lithuania, together with the waste management activities of Toensmeier, will form one of the largest groups of municipal, packaging and industrial waste management companies in Lithuania, which provides its services to the whole country.
Privately-owned German waste management group Toensmeier consisted of four companies directly or indirectly owned by Toensmeier GmbH. After this acquisition, all these companies will be merged with the acquiror into one entity and operate under the name UAB Ekonovus.
Oaklins' team in Lithuania acted as advisor to the buyer in this transaction.
© 2019 Oaklins. All rights reserved. Oaklins is the collective trade name of independent member firms affiliated with Oaklins International Inc. For details of the nature of affiliation, please refer to www.oaklins.com/legal.