ABN Amro Participaties acquires majority interest in Bollegraaf Recycling Solutions

Amsterdam-based ABN Amro Participaties has acquired a majority interest in Bollegraaf Holding Appingedam BV, the holding company of Bollegraaf Recycling Solutions Group, based in Appingedam, Netherlands. The move was done in part because former Bollegraff Director and owner Heiman S. Bollegraaf is approaching retirement age.

The transaction was completed 18 Nov., 2015. The new shareholders say they intend to strengthen the position of the Bollegraaf Recycling Solution Group and to promote further growth.

As a result of the transaction, Heiman Bollegraaf has stepped down as managing director of the group. He is succeeded by Edmund Tenfelde, who has served as interim director of the group in recent months. Prior to this role, Tenfelde held chief financial officer and executive board positions at Riwal Holding Group BV, VolkerWessels, DSM, KPN Mobile Satellite Communication and Stork Industry Services, among others.

Heiman Bollegraaf remains affiliated with the company as business development director and will focus on product development and expanding the international client network of family businesses, according to a news release announcing the transaction.

Bollegraaf was incorporated in 1961 as Machinefabriek en Plaatsnijbedrijf H. Bollegraaf by founder Hartog Bollegraaf, father of Heiman Bollegraaf, to manufacturer vertical balers initially. In 1989, Heiman Bollegraaf took over the company. Under his management, the company developed into a global player in the fields of recycling and waste processing equipment, supplying entire recycling plants.

Lubo Systems in Emmen, Netherlands, has been part of the Bollegraaf Recycling Solutions Group for more than 14 years and focuses on the design and development of innovative sorting and recycling plants and screening products.

Bollegraaf Recycling Solutions Group operates worldwide, with branches and representatives in most European countries, Australia, Asia and the USA.

Bollegraaf Recycling Solutions says it will continue to be distributed in the American market by Van Dyk Recycling Solutions, Stamford, Connecticut.

Bollegraaf employs more than 200 people in Appingedam, where the company designs and produces sorting systems, balers, shredders and entire recycling systems to process paper and domestic, industrial and construction and demolition material.