For an undisclosed amount, Zirq Solutions (Lysaker, Norway; www.zirqsolutions.com) has acquired Danish circular economy specialist Letbek (Tistrup, Denmark; www.letbek.com). With the takeover, Zirq Solutions intends to “conquer” the European market for recycled plastics – according to somewhat sweeping statements made in the press release by the two companies. In any case, the sales volume of the buyer, a company focused on the recycling of cables and medical equipment, will grow to more than NOK 1 bn (EUR 88 mn).

The acquisition is also set to provide processing capacities to the Norwegian company, which had already opened a recycling plant in Stenlille on the Danish island of Zealand in 2021, because Letbek doesn’t just recycle plastics, it also uses the produced recyclates to manufacture products such as chairs, cable protection systems, covers and ramps, and road safety posts through injection moulding, extrusion, and polyurethane processing.

Related: Letbek acquires processor Plast-Profilen to strengthen activities in Denmark

In addition to the Letbek headquarters in the west of Jutland, the acquisition has also given Zirq another location, in Komorniki (Poland), and the company’s management team around CEO Thomas Mørch has been reinforced by former Letbek boss Michael Bayer Thomsen.