Greenstar Acquiring Veolia's Irish Commercial Waste Business

Ireland-based Greenstar has acquired the commercial waste and recycling operations of Veolia Environmental Services in Ireland. The sale, part of the asset disposal program announced by Veolia’s parent company, does not include Veolia’s hazardous waste management business, which will continue to operate as part of its strategic plan in the Irish market.

On completion of the acquisition, Greenstar will consolidate its position as the largest recycling and waste management company in Ireland.

The acquisition will enable Greenstar to strengthen its position in Dublin, Cork and Waterford, Ireland, and expand its national footprint into Limerick. It will also facilitate the entry of Greenstar’s operations into Northern Ireland where Veolia has a materials recycling facility located in Newry.

The announcement follows Greenstar’s recent refinancing of a €120m debt facility, which was completed last month. 

The acquisition will add 3,500 corporate customers to Greenstar’s existing commercial customer base of 10,000 and 60,000 domestic customers. 

Neil Parkinson, Greenstar’s CEO, said, “This acquisition enables Greenstar to bring increased efficiency to its operations, drive better and innovative recycling and further improve the price and product offering to its customers.”

“The current downturn has resulted in overcapacity in the waste industry. The combination of Veolia’s commercial waste business with Greenstar will allow us to benefit from greater economic synergies; the increased throughput will improve the yield from our existing recycling facilities and further enable the company to invest in recycling infrastructure. Both companies are recognized for applying high standards to their activities and this is reflected in the quality of the customer base of both entities,” Parkinson added.