LONDON—Private equity firm Opulentia Capital Holdings L.L.C. has launched a plan to acquire companies in the United Kingdom plastics and rubber industry toward building a group with cumulative sales of over $115 million.
Gibraltar-headquartered Opulentia has established Ruplas Group Ltd.
as a vehicle to acquire converters with at least 10 years' experience and revenues between $4.6 million and $34.7 million.Recycled plastics
will form a large part of the group as Opulentia sees that this segment will have a significant growth in the near future, the company said in an Oct. 7 news release.
Growth, it said, "maybe slowed through the pandemic, but all the lost ground will surely be recovered as the march toward more sustainable consumption will continue with renewed vigor."
Opulentia noted that despite its scale—annual sales of $31.2 billion and 162,000 employees—the U.K. plastics and rubber segment "is very much a fragmented segment comprising of 5,800 companies.