Sep 28 2007
Compagnie Plastic Omnium finalized the acquisition of Germany’s Sulo Environmental Technology for an enterprise value of €142 million. The acquisition is retroactive to June 1.
With 540 employees, mainly in Germany, Sulo Environmental Technology last year generated €186 million in revenue and €12.4 million in operating profit.
The company is a European leader in its core business: the manufacture and sale of wheeled and underground containers, litterbins, public drop-off receptacles and other waste collection equipment. With its plant in Germany and sales to Central Europe, Sulo Environmental Technology extends Plastic Omnium Environment’s manufacturing and marketing base. Plastic Omnium Environment produces waste collection equipment in France, Spain and South Africa for sale around the world. The acquisition also includes Sulo subsidiary Envicomp, which designs information systems for identifying, weighing and lifting waste containers. The integration of Envicomp expands Plastic Omnium’s Ecosourcing service package for improving waste sorting and raising awareness among equipment users.
The acquisition also enables Plastic Omnium Environment to diversify into two other businesses in which Sulo Environmental Technology is already present—logistics (transport and storage) and the production of metal containers for the chemicals and pharmaceutical industries.
Following the July 26 acquisition of Compagnie Signature, a European leader in road and highway signage, the acquisition of Sulo Environmental Technology further demonstrates Compagnie Plastic Omnium’s commitment to developing its services businesses, which now represent revenue of more than €600 million, or 20% of total sales.