Agilyx investment transaction in GreenDot completed

ilyx ASA, a Norway-based leader in advanced plastics recycling and chemical recycling solutions, has completed its acquisition of a 44% stake in GreenDot Global S.à r.l., Europe’s largest waste plastic recycling platform. Announced as a binding agreement on July 17, 2025, the deal closed on October 15, 2025, following shareholder approval at an Extraordinary General Meeting on October 3. This move, from Oslo, bolsters Agilyx’s European foothold to create a global feedstock supply network for the advanced recycling sector.

Deal Structure

The transaction valued GreenDot at a post-money enterprise value of €197 million. Agilyx acquired the stake for €52 million total consideration, comprising about €32 million in newly issued shares—priced at the 30-day VWAP of 25.76 NOK—and €20 million in cash via primary and secondary purchases. It included Agilyx’s €7 million contribution to a €27 million investment round in GreenDot. Financing came from a €20 million subordinated loan by existing investors, subordinate to Agilyx’s bonds. Shares face a lock-up until January 10, 2026, with volume-capped sales thereafter. All conditions, including German regulatory approval, were met.

Strategic Implications

This partnership unites Agilyx’s polystyrene depolymerization expertise with GreenDot’s scale—processing over 1 million tonnes of packaging waste yearly across 29 countries, including 400,000 tonnes of plastic. It enables facility expansions in Germany, Austria, and Italy, enhancing circular economy efforts in bioplastics and sustainable materials. CEOs Ranjeet Bhatia and Laurent Auguste highlight synergies for brands, positioning the duo as a transatlantic leader in feedstock for advanced recycling amid rising demand for recycled plastics.

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