Bifogade filer
Mashup Ireland AB announces that investee company has made disposal of business assets
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Tjänster |
| Industri | Allmänna tjänster |
Mashup Ireland AB (publ), the acquisitive Irish SME investor, has today announced that its investee company has disposed of some of its physical waste business assets
- Kollect had acquired these assets as part of a transaction in the summer of 2024
- A total of approximately €3.1m had been paid for these assets at the time of the disposal
- With the assumption of outstanding liabilities, the total enterprise value of the assets which were disposed of is approximately €3.0m.
- This returns Kollect to being an asset light technology business although it does retain its waste drop-off business, BIGbin.
In the summer of 2024, Kollect acquired a portfolio of waste assets from the Pink Recycling Group and total payments at the date of disposal amounted to €3.1 million. This was made up of upfront payments and deferred consideration. Around one year later, Kollect has now completed the disposal of these assets, selling them back to the Pink Recycling Group.
Including the assumption of associated outstanding liabilities by the acquirer, the total enterprise value of the transaction at the time of disposal was approximately €3.0 million. This sale enables the Kollect Group to reduce debt and marks its return to an asset-light, technology-focused business model, while continuing to operate and grow its retained waste drop-off division, BIGbin.
The proceeds of the sale will be used to pay down debt within the Kollect Group and no distributions will be made to Mashup Ireland AB.
Comment from the CEO of Mashup Ireland AB
“This is an important and strategic transaction for our portfolio company, Kollect. The sale allows Kollect to reduce debt and transition back to a more agile, asset-light, and technology-focused business model. This enables them to navigate industry challenges, particularly around rising insurance costs and evolving regulations. By divesting these assets, Kollect can now redouble its focus on growing its core technology business and its successful BIGbin drop-off service”
Andy Byrne, CEO
For additional information, please contact:
Jamie Walsh, CFO
Phone: [+353] 85 871 9756
E-mail: jamie@kollect.ie
Mashup Ireland AB’s Certified Adviser is Mangold