Ranivo Holding B.V., the ultimate shareholder of Rubber Resources B.V., has successfully sold its shares to India-based Elgi Rubber International Limited (Elgi). Financial details of this transaction have not been disclosed.
Rubber Resources, a former subsidiary of Dutch tyre manufacturer Vredestein Banden, is a developer and recycler of rubber materials mainly for the tyre industry. The company offers natural reclaim, powders, granulates and butyl reclaim. As one of the world’s largest players in rubber recycling, Rubber Resources is active worldwide.
Elgi has a focus on rubber recycling and provides solutions to the rubber industry, specifically (retreading) tyres. Based in India, it has additional operations in Brazil, East Africa, the US and South Asia. For Elgi, this acquisition means a strong presence in Europe and a big step towards being a worldwide supplier of reclaim to the rubber industry.
Oaklins' team in the Netherlands acted as financial advisor to the seller in this transaction.
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