CleanR closes the deal of acquiring Lautus SIA
Waste management company CleanR SIA closes the deal of acquiring Lautus SIA that was ongoing since July this year. Lautus is a medical and hazardous waste management company acquisition of which expands CleanR’s scope to include a new specialization, which is critical to both health and environmental safety, says Valerijs Stankevičs, Chairman of the Board of CleanR.
The deal also includes vacuum pumping and sanitation services, as well as restoration of contaminated sites and the improvement of environmental quality or remediation. According to Stankevičs: “This direction will not only complement our service portfolio, but also will strengthen our position as a comprehensive leader in the waste management industry.”
In September of this year, the Competition Council of Latvia has approved the transaction, which indicates the compliance of the merger of market participants with the requirements of regulatory acts. Acquisition price is not to be disclosed due to the reasons of confidentiality. “Acquisition will allow to diversify CleanR’s portfolio, expanding the range of services for individual and corporate customers as well as for municipalities,” says Juris Gulbis, Chairman of the Board of CleanR Grupa JSC.
Lautus SIA, beeing the first company in Latvia to start managing specific waste in the field of medical and hazardous waste management, will continue its operations as the subsidiary of CleanR. The deal will not affect the customers of Lautus – the current quality of service provision and customer service will remain. “Lautus Vide” SIA, which is household waste management company, is not included in the transaction and maintains its independent operations.
The new stage of development will allow CleanR to strengthen its role in the market and promote a sustainable approach to waste management, combining industry experience and innovation with an expanded range of services.
