ecoveritas, a leading provider of specialist, data-driven services to the packaging industry, is preparing for the next exciting chapter in its ongoing success and growth.
The business, which assists customers with data collection and analysis as well as with consultancy advice on compliance, has been acquired for an undisclosed sum by its existing leadership team with backing from a group of international investors.
The change of ownership was formally agreed on April 22, 2022 and has seen ecoveritas separate from its sister business and former parent company, Greenback Recycling Technologies Ltd, who has supported the management-led buyout to allow both businesses to focus on their core activities.
Irvin Newbitt, newly appointed CEO at ecoveritas, said: “The management-led buyout of ecoveritas, backed by a strong group of investors, is a watershed moment for the company. It will give our team greater scope to realise our future vision and to build on our considerable achievements to date.”
He added: “Moving forward, we will be able to focus more on enhancing customer value through developing Technology solutions combined with our core areas of expertise in EPR (Extended Producer Responsibility). We also plan to extend our offer with new data services that assist our customers meet their wider sustainability goals.”
David Scott, ecoveritas’ Board Chairman, commented: “The acquisition of ecoveritas by its senior management team is a win-win situation for all involved. It has secured the long-term future of the company and instilled a fresh perspective as well as a renewed sense of purpose.
“We are very excited about the opportunity to build the leading brand in the field of Extended Producer Responsibility and other related areas. We are lucky to have a strong, passionate and committed team and look forward to strengthening partnerships with all of our clients to ensure that the world is a much more sustainable place to live and work.
“Importantly, the acquisition has ensured ecoveritas remains staffed, owned and led by people who know the business, who know the industry and, most crucially of all, who know our clients. The future looks very exciting indeed.”
ecoveritas was formed in 1999 and currently employs a team of 16. The business’ customers include numerous household FMCG brands in sectors as diverse as retail, pharmaceuticals, hair and beauty, and horticulture.
ecoveritas’ new management team were supported throughout the acquisition by Taylor Vinters’ Partner Charlie Fletcher, Senior Associate Rebecca Quick and Associate Scott Parmenter. The sellers were advised by Jonathan Watkins and Sinead Wood of law firm DLA Piper.