Orrick, Herrington & Sutcliffe LLP
10/29/2024 | Press release | Distributed by Public on 10/29/2024 12:01
Digital Waste Management Solutions: c-trace Majority Stake sold to TOMRA
Recycling specialist TOMRA has acquired 80 percent of the shares in c-trace GmbH, a German leader in digital waste management solutions.
Orrick advised the c-trace founding team.
THE COMPANIES
Founded by Torsten Olschewsky, Helmut Ziegler and Michael Eikelmann in 2005 in Bielefeld, Germany, c-trace offers pioneering solutions that combine software and hardware modules to digitize and enhance the efficiency of waste management processes.
Through its innovative solutions and strong customer base, c-trace has established a leading position in Germany, the largest market in Europe.
TOMRA, founded in 1972, is dedicated to transforming the way business and society obtain, use and reuse the planet's resources. The company's advanced collection and sorting technologies support the transition to a circular economy, optimize resource use and minimize waste in food, recycling and mining. Listed on the Oslo Stock Exchange, TOMRA is headquartered in Asker, Norway.
THE IMPACT
TOMRA acquired 80% of the shares in c-trace, with an option to purchase the remaining 20% from the founders after two years. The acquisition underscores TOMRA's strategy to develop new business areas through mergers and acquisitions. It also supports TOMRA in generating additional profitable growth, diversifying its revenue streams and increasing its market penetration.
THE TEAM
Wilhelm Nolting-Hauff led the Orrick team that advised the c-trace founding team. The team also included Alessandro Saitta, Benedikt Migdal, Lars Mesenbrink, Benedikt Kamann, Stefan Schultes-Schnitzlein, Nico Neukam, Christian Schröder and Robert Weinhold.