After assuming a majority stake in Norwegian recycler Quantafuel (Oslo; www.quantafuel.com) in mid-2023, UK reclaim giant Viridor (Taunton; www.viridor.co.uk) has now announced that is has taken full ownership of its competitor in a transaction worth around NOK 177 mn (EUR 15.6 mn).

In February last year, Viridor made an offer of GBP 90 mn (EUR 105 mn) for a 90.85% stake in Quantafuel. The transaction then officially took place in May, at which point previous Quantafuel COO Terje Eiken moved to the top of the firm and Viridor CEO Kevin Bradshaw and CFO Nick Maddock took over the leadership of the Norwegian recycler’s board of directors.

Related: Start-up of Viridor Avonmouth reclaim plant, shutdown of Skelmersdale facility

In response to a Plasteurope.com query, a company spokesperson confirmed that there were no further changes in management following the full takeover, though they did not provide information on whether Quantafuel is facing other restructuring measures.

As previously agreed, the Oslo Stock Exchange delisted Quantafuel’s shares from Euronext Growth as of 7 February. The recycler said it has now been fully integrated into Viridor Polymers.