The acquisition of 49% of the capital of a specialist in waste management by a group listed in the United States has been finalized.
ColdPro, which is registered in West Yorkshire, is an approved integrated waste management company and one of only six approved and regulated treatment facilities in the UK.
General European Strategic Investment has acquired a 49% stake in the business from United General Ltd, which will retain a 51% stake.
GESI announced in March 2022 that it had made a firm commitment to acquire the stake for a total consideration of £5 million. The deal is now done.
Wolfgang Rauball, Director and Managing Director of GESI, said, “We are delighted to have successfully completed the acquisition of our stake in ColdPro and look forward to working with its management team to expand its operations.
Speaking at the time of the deal announcement, Adeel Ahmed, COO of ColdPro said, “We are delighted to join the GESI family and receive the expected support from GESI to expand our facilities to better to serve our growing clientele.
General European Strategic Investments Inc is a publicly traded company in the United States with significant interests in Tier 1 and district-scale projects in Europe.