When was CONVERTINI acquired by PAPREC?

CONVERTINI was acquired by PAPREC in 2026.

What was the revenue of CONVERTINI at the time of the deal?

The revenue of CONVERTINI at the time of the deal is estimated to be in the range of 10M - 30M EUR.

How is the data for the CONVERTINI acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the CONVERTINI deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.paprec.com/app/uploads/2026/03/17032026-paprec-resultats-et-arrivee-en-italie.pdf

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Home DatabaseCONVERTINI

03/2026

CONVERTINI acquired by PAPREC

ITALY Utilities (Regulated Infrastructure) / Waste Management / Collection & Recycling REV 10M - 30M EUR

Context

Paprec acquired a 70% majority stake in Convertini to mark its strategic entry into the Italian waste management market. The rationale for the transaction is to establish a platform in Italy's industrial core, Lombardy, which offers high potential for circular economy services due to its dense manufacturing base. This acquisition allows the buyer to leverage the target's local market expertise and established client relationships to accelerate its international growth. For the founding family, the deal provides the industrial backing and investment capacity of a multi-billion euro group to fund technological innovation and expand service offerings. The transaction is a key step in the buyer's broader European strategy to increase its international revenue to EUR 1000M by the end of 2026 through the consolidation of independent regional players.

CONVERTINI, which reported an EBITDA margin of in 2025, is valued in this transaction at an EV/EBITDA multiple of .

Target

Convertini operates as a specialized industrial waste management firm based in Cusago, near Milan. The company focuses on the collection, sorting, and recovery of non-hazardous industrial waste, primarily serving the high-intensity manufacturing sectors of Northern Italy. The business model is centered on the circular economy, utilizing advanced treatment and valorization processes to transform industrial residues into secondary raw materials that can be reintegrated into production cycles. By acting as an independent regional specialist, the entity manages complex waste streams for a diverse client base, ensuring environmental compliance and resource efficiency. The operational infrastructure includes dedicated sorting centers and a logistics fleet capable of handling large-scale industrial volumes, positioning the firm as a critical link in the Lombardy region’s industrial supply chain.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2025

2024

Similar deals in Utilities (Regulated Infrastructure)

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
05/2026	APOLLO GLOBAL MANAGEMENT	NOBLE ENVIRONMENTAL	UNITED STATES	Collection & Recycling
05/2026	DERICHEBOURG	SCHOLZ RECYCLING	GERMANY	Collection & Recycling
03/2026	HERA GROUP	SOSTELIA GROUP	ITALY	Water
03/2026	EQT PARTNERS	Kelda Holdings	UNITED KINGDOM	Water
03/2026	MEANINGS CAPITAL PARTNERS	MOULINOT	FRANCE	Collection & Recycling
02/2026	BLACKSTONE / EQT PARTNERS	URBASER	SPAIN	Waste Management
01/2026	PAPREC	PIZZORNO ENVIRONNEMENT	FRANCE	Collection & Recycling
10/2025	ITELYUM	La Cart	ITALY	Collection & Recycling
07/2025	CAPZA	DI ENVIRONNEMENT	FRANCE	Hazardous Waste
06/2025	SECHE ENVIRONNEMENT	GROUPE FLAMME	FRANCE	Waste Management

REFERENCES

Revenue range: 10M - 30M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of CONVERTINI by PAPREC are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Target: convertini

Acquirer: paprec