Zeritis Group completes the acquisition of the remaining 16.3% of Budafok Recycling Zrt., based at Szentendre, Hungary, and becomes the sole shareholder of the company. Following the transaction, Zeritis Group plans to complete a capital increase plan of Euro 0.5 million, fueling thus the company’s growth while feeding the business with fresh working capital.
Georgios Bakos, General Manager of Zeritis Group, commented: “The Group’s holding team will be hands on with this project to ensure proper execution and increase of market footprint; focus shall be given on credit control and customer service as well on supporting the local management team to optimize the production process and expand raw material sourcing channels.”
Smart Legal Schmidt & Partners acted as the legal advisor on the deal for Zeritis Group.
