Carter has been acquired by Nonet Group

December 2025 — Carter S.r.l., the Luxembourg-based holding company owning the Belgarena–Roton Group, has been acquired by Nonet Group. The transaction enables Nonet to further consolidate its position as a leading player in Wallonia, while continuing to develop recycling activities recognized as a strategic priority.

Belgarena–Roton Group, owned by Carter, is a leading provider of environmental solutions ranging from soil depollution and the recycling and valorization of inert materials to mineral drying. Headquartered in Farciennes, near Charleroi, Belgium, the group operates a soil remediation and recycling platform in Wallonia, specializing in the treatment of polluted soils and sludges from excavation sites, demolition waste from construction and public works, foundry sands and waste from water purification plants up to type V. In addition, the group operates one of the few proprietary storage platforms in the region, with a capacity exceeding 300,000m³ for recycled and decontaminated soil up to type IV.

Founded in 1958, Nonet Group is a dynamic family-owned company specializing in outdoor development, underground networks, demolition, recycling and the valorization of construction materials. The group operates throughout Wallonia and employs approximately 400 people, delivering comprehensive solutions to both public and private clients.

Our role in the transaction

Oaklins’ team in Belgium acted as the exclusive sell-side M&A advisor to the shareholders of Carter in this transaction.