Convent Capital (“Convent”), in partnership with their portfolio company Convertus Group (“Convertus”), are pleased to announce the successful acquisition of Envirem Organics (“Envirem”). The acquisition of Envirem will be a key factor in the long-term growth of the Convertus platform, a full-service provider for the treatment and recycling of organic waste and largest processer of organic waste in Canada.
Envirem is a diversified environmental company specializing in organic bio-products, including mulches, soils, and fertilizer. The company is headquartered in Fredericton, New Brunswick and houses facilities across the province as well as in Nova Scotia, and Maine. Envirem’s expansive operations allow the company to effectively process incoming material into high-quality offtakes, which are then bagged or sold in bulk. Envirem’s established management team is continuously looking for innovative solutions to further advance the business, which is reflected in the company’s recent investment in automated bagging equipment.
“We are incredibly pleased to add Envirem to the growing portfolio of Convertus. This acquisition will contribute to the achievement of our strategic ambitions to become the largest and most advanced operator in North America,” said Convertus CEO Mike Leopold.
Bob Kiely, President of Envirem, will continue to lead the Envirem business operations. “The Envirem team is excited about joining the Convertus team,” commented Bob. “We look forward to the strategic fit, which amplifies our reach in North America. Combining our strength in product development, marketing, and the conversion of organics into value-added sustainable products, we are strengthened as an organization that contributes to a sustainable future.” Bob’s leadership moving forward will solidify continuity among existing ownership and management to ensure a smooth transition to the Convertus platform.
“We are at a tipping point when it comes to global warming which poses an existential threat to the planet. Now more than ever we are committed to investing in businesses that focus on combatting key issues such as climate change and climate resilience. The acquisition of Envirem, and the synergies with Convertus’ existing operations, brings us one step closer to achieving a better and more sustainable future for all” says Maarten Meijnen, founder of Convent Capital.
About Convent Capital
Convent is an open-ended investment firm established in Amsterdam, Netherlands. Due to the open-ended nature of the investment vehicle, Convent has no pre-determined investment horizon and can take long-term views on industries. This long-term view fits particularly well with Convent’s circular philosophy and conviction that operating without exit pressure leads to better results. Convent has the ambition to prove that companies that commit to sustainable value creation based on circular business models will ultimately be the winners of the future. Visit Convent’s website for more information: www.conventcapital.nl/en