Agilyx is tightening its grip on Europe’s plastics recycling market, moving to increase its ownership in GreenDot Global to a controlling 50.1%.

 

The Norwegian-listed circular plastics company said the deal will push it past the threshold needed to fully consolidate GreenDot’s financial results. Once completed, GreenDot’s accounts will be fully integrated into Agilyx’s reporting.

 

GreenDot, a major European platform for sourcing, sorting, and supplying plastic waste for recycling, is projected to deliver about EUR 375 million in revenue and more than EUR 22 million in EBITDA in 2026—underscoring the scale of the asset Agilyx is tightening control over.

 

Under the agreement, Agilyx and partner Lafor will acquire the remaining 19.1% stake in GreenDot currently held by Circular Resources. After completion, Agilyx’s ownership will rise from 46% to 50.1%, while Lafor will increase its holding from 34.9% to 49.9%.

 

Agilyx CEO Ranjeet Bhatia is set to take the role of Chairman at GreenDot, further cementing the strategic integration between the companies.

 

To fund the additional stake, Agilyx has secured a EUR 4.7 million share purchase financing facility at 7% interest with an expected six-month term. The company said the structure fully covers the acquisition without near-term cash impact.

 

Peter Norris, Chair of the Agilyx Board, commented, "Lafor has been a valuable partner at GreenDot, and we're excited to continue working together to build the EU's leading waste plastic recycling platform. Consolidating GreenDot's accounts will provide our shareholders better financial transparency and strengthen our partnership."

 

The transaction has already cleared a key governance hurdle, receiving support from two-thirds of voting bondholders under Agilyx’s EUR 40 million subordinated convertible bonds due 2025–2028.

 

Agilyx, which operates across chemical and mechanical recycling technologies in both Europe and the US, says the move strengthens its position in the circular plastics economy and accelerates its push toward scalable, lower-carbon materials systems.