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 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.