The recycled paper manufacturing industry in Europe focuses on transforming waste paper into usable products, reducing reliance on virgin materials. Key players include paper mills, recycling companies, and businesses offering innovative recycling solutions. This sector not only produces paper goods, such as corrugated boxes and printing paper, but also supports sustainable practices through the circular economy. Interesting insights reveal that the industry is rapidly evolving, driven by technological advancements and strong consumer demand for sustainable products. In fact, many manufacturers are moving towards zero-waste operations and are investing in renewable energy sources, ensuring a greener future for paper production.


In this list, you'll find a mix of corporate, venture capital, and private equity investors from various European countries, including Luxembourg, France, and the Netherlands. The investors range in size, from smaller firms with around 50 employees to larger organizations with over 1,000. Notably, many were founded in the past few decades, indicating a relatively young yet energetic presence in the market. Throughout 2024, these investors engaged in a total of 300 transactions focused on recycled paper manufacturing, showcasing their commitment to enhancing sustainability within the sector.


Top 15 Recycled Paper Manufacturing Investors in Europe


1. European Innovation Council (EIC)


The European Innovation Council (EIC) is a public entity based in Brussels, Belgium, established to support innovation and entrepreneurship across Europe. Founded in 1958, the EIC offers various funding programs, including the EIC Accelerator and EIC Pathfinder, aimed at helping startups and SMEs develop and scale their technologies. In recent years, the EIC has been involved in several significant transactions within the recycled paper manufacturing context. Notably, they provided grant funding to Creapaper and Releaf Paper, which are both companies focused on innovative solutions in the recycled paper sector. For instance, Releaf Paper raised $2,656,376 in grant funding from the EIC in December 2022, demonstrating the EIC's commitment to fostering innovation in this industry. Additionally, the EIC has supported Paptic, a company working on sustainable packaging solutions, further emphasizing their focus on environmentally friendly innovations. Through these investments, the EIC plays a crucial role in advancing the recycled paper manufacturing industry and promoting sustainable practices.


2. Crowdcube

  • Website: crowdcube.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2010
  • Headcount: 51-200
  • Number of deals in 2024: 3
  • LinkedIn: crowdcube-limited

Crowdcube is a London-based crowdfunding platform founded in 2010 that enables businesses to raise capital through equity investments. The platform connects startups and SMEs with potential investors, facilitating the funding process while promoting diversity and inclusion within its workforce. In recent years, Crowdcube has been involved in several transactions that highlight its commitment to sustainable practices. Notably, they facilitated a seed round investment for Envopap, which raised $1,457,720 in January 2020. Envopap specializes in creating sustainable paper products, making this investment particularly relevant to the recycled paper manufacturing sector. Additionally, Crowdcube has supported other companies like Flexi-Hex and bumboo, which focus on eco-friendly packaging solutions, further demonstrating their alignment with sustainability initiatives.


3. Almi

  • Website: almi.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 201-500
  • Number of deals in 2024: 7
  • LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, that specializes in providing loans, risk capital, and business development support to small and medium-sized enterprises. Founded in 1994, Almi aims to enhance the growth and competitiveness of these businesses through tailored financial solutions and guidance. Among its notable transactions, Almi has invested in re:newcell, which raised $5 million in 2019 for its innovative recycling processes that convert textiles into new fibers, a practice that aligns with recycled paper manufacturing principles. Additionally, Almi participated in funding Södra, a company involved in sustainable forestry and paper production, and Hoting Innovations, which is setting up a production facility that may relate to sustainable materials. Furthermore, Almi's backing of GAIA BioMaterials, which focuses on sustainable materials, indicates their commitment to supporting environmentally friendly initiatives. These transactions highlight Almi's active role in promoting sustainability and recycling within the manufacturing sector.


4. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg that provides financial services, including loans, equity investments, guarantees, and advisory services, to support sustainable projects across various sectors. Founded in 1958, the EIB aims to promote growth and job creation through its funding initiatives. Notably, the EIB has been involved in significant transactions relevant to the recycled paper manufacturing context. For instance, they provided a EUR 435 million loan to Stora Enso to support its investment in a mill that will produce renewable, fiber-based consumer packaging board, highlighting their focus on sustainable materials. Additionally, their participation in funding rounds for companies like Packhelp, which is dedicated to sustainable packaging solutions, showcases their commitment to fostering innovation in the packaging and paper sectors. These transactions reflect the EIB's strategic interest in promoting sustainability and resource efficiency, making them a relevant investor in the recycled paper manufacturing industry.


5. Katapult

  • Website: katapult.vc
  • Type: Venture Capital
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 2017
  • Headcount: 11-50
  • Number of deals in 2024: 8
  • LinkedIn: katapult-accelerator

Katapult is an impact investment firm based in Oslo, Norway, founded in 2017. They focus on tech startups that address global challenges, providing investment, accelerator programs, and mentorship to early-stage companies. Katapult has been involved in several transactions relevant to sustainability and recycling, including their investment in RecyGlo, a waste management and recycling platform in Myanmar, which received seed funding aimed at improving recycling services. They also participated in funding rounds for Better Packaging Co. and Jiva Materials, both of which are involved in sustainable packaging and materials innovation. These transactions highlight Katapult's commitment to supporting companies that contribute to environmental sustainability, making them a potential investor in the recycled paper manufacturing sector.


6. Cvc

  • Website: cvc.com
  • Type: Private Equity
  • Headquarters: Luxembourg
  • Founded year: 2005
  • Headcount: 1001-5000
  • Number of deals in 2024: 16
  • LinkedIn: cvc-capital-partners

CVC Capital Partners is a prominent private equity firm based in Luxembourg, founded in 2005. It specializes in private equity, credit, secondaries, and infrastructure, managing approximately €193 billion in assets for over 1000 clients, including pension funds and institutional investors. CVC focuses on delivering sustainable value and growth through strategic investments. Notably, CVC has made significant investments in the paper and packaging sectors, including the acquisition of Lecta in 1997 and AR Packaging in 2016, which reported sales of approximately €560 million. These transactions highlight CVC's active role in the recycled paper manufacturing context, as both companies are involved in the production and processing of paper products, further emphasizing their relevance in this industry.


7. Bgf

  • Website: bgf.co.uk
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2011
  • Headcount: 51-200
  • Number of deals in 2024: 53
  • LinkedIn: bgfinvestments

BGF Investment Management Limited is a venture capital firm based in London, England, founded in 2011. The firm focuses on providing growth funding and value creation support to small and mid-sized businesses in the UK and Ireland. BGF addresses the funding gap in the market through minority investments and extensive support services. Notably, BGF has invested in companies like J & B Recycling, which received £7.5 million to expand its recycling facilities, and RiverRidge Recycling, which secured £10 million in equity funding to enhance its operations. These investments highlight BGF's engagement in the recycling industry, particularly in waste management and recycling operations, which are relevant to the recycled paper manufacturing sector.


8. Ardian

  • Website: ardian.com
  • Type: Private Equity
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1996
  • Headcount: 1001-5000
  • Number of deals in 2024: 21
  • LinkedIn: ardian

Ardian is a prominent investment management firm based in Paris, specializing in private equity, real assets, and credit solutions. Founded in 1996, Ardian has established a global presence and focuses on sustainable finance, aiming to create lasting value for its clients. In 2023, Ardian made significant strides in the waste management sector by acquiring Attero B.V., a Netherlands-based circular economy platform, and a Dutch waste treatment firm, reflecting their commitment to sustainability and the circular economy. These transactions align with the principles of recycling and waste management, which are crucial for the recycled paper manufacturing industry. Ardian's diverse investment strategies cater to institutional investors, family offices, and pension funds, providing access to high-quality private market investments.


9. Andritz

  • Website: andritz.com
  • Type: Corporate
  • Headquarters: Graz, Styria, Austria
  • Founded year: 1892
  • Headcount: 10001+
  • Number of deals in 2024: 5
  • LinkedIn: andritz

Andritz AG, founded in 1892 and based in Graz, Styria, Austria, is a leading technology provider specializing in industrial equipment and solutions across multiple sectors, including pulp and paper, metals, and energy. With a workforce of over 10,000 employees, Andritz focuses on enhancing operational efficiency and sustainability for its business customers through innovative and digitalized solutions. The company has made significant acquisitions in the pulp and paper sector, such as Kempulp, a Swedish company specializing in chemical pulping technologies, and Paperchine Inc., a global supplier of equipment and services for the paper industry. These strategic acquisitions demonstrate Andritz's commitment to expanding its capabilities and expertise in the recycled paper manufacturing industry, positioning it as a key player in this market.


10. Tikehau Capital


Tikehau Capital is an investment management firm based in Paris, specializing in alternative asset management. Founded in 2004, the firm offers a diverse range of services, including private debt, private equity, real assets, and capital markets strategies. Tikehau Capital serves a variety of clients, including institutional and private investors, as well as SMEs seeking tailored financing solutions to support growth and sustainability initiatives. Notably, Tikehau Capital has made significant investments in companies that align with sustainability goals, such as acquiring a 25% stake in Brandart Spa, a sustainable packaging solutions provider, in September 2023. This investment reflects their commitment to supporting companies that contribute to sustainable practices. Additionally, they have participated in funding rounds for companies like Ecopol and Addev Materials, which may also have relevance to sustainable materials and packaging, although the specifics of these companies' operations in relation to recycled paper are less clear. Overall, Tikehau Capital's focus on sustainability and alternative investments positions them as a potential investor in the recycled paper manufacturing sector.


11. UI Investissement

  • Website: ui-investissement.com
  • Type: Venture Capital
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1967
  • Headcount: 51-200
  • Number of deals in 2024: 19
  • LinkedIn: ui-gestion

UI Investissement is an investment management firm based in Paris, Île-De-France, France, specializing in supporting the growth of non-listed small and medium-sized enterprises (SMEs) and intermediate-sized enterprises (ETIs) in France. Founded in 1967, the firm provides capital development, innovation, and consolidation services, focusing on sectors such as health, agro-business, and services. In 2023, UI Investissement participated in a funding round for Recyc'Elit, which raised 3.2 million euros to develop an industrial pilot capable of processing 100 tons of waste per year by the end of 2024. This investment highlights their engagement in the recycling sector, which is relevant to recycled paper manufacturing. Additionally, they have been involved in various seed rounds, indicating a proactive approach to supporting innovative companies.


12. Suez

  • Website: suez.com
  • Type: Corporate
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1997
  • Headcount: 10001+
  • Number of deals in 2024: 5
  • LinkedIn: suez

Suez SA is a utility company based in Paris, specializing in water and waste management. Founded in 1997, Suez has over 160 years of experience in addressing environmental challenges globally. The company focuses on sustainable practices and innovative solutions for waste recycling and resource management. In recent years, Suez has made significant investments in the recycling sector, including the acquisition of Quality Circular Polymers in 2018, which enhances their recycling capabilities. In 2022, Suez Ventures acquired EnviroServ, further expanding their footprint in waste management. Additionally, Suez has participated in funding rounds for TerraCycle, a company dedicated to recycling and waste reduction, indicating their commitment to supporting innovative recycling solutions. These transactions highlight Suez's strategic focus on enhancing recycling processes, making them a relevant player in the recycled paper manufacturing industry.


13. Mutares Benelux

  • Website: mutares.com
  • Type: Private Equity
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2021
  • Headcount: 51-200
  • Number of deals in 2024: 16
  • LinkedIn: mutares-benelux

Mutares Benelux is a private equity firm based in Amsterdam, Netherlands, founded in 2021. It specializes in acquiring and managing companies in transition, providing operational support and consulting services to enhance profitability and growth across various sectors. Notably, Mutares has made significant investments in the recycled paper manufacturing sector, including the acquisition of Sonoco Paper France, which operates a board mill and generated sales of €32 million in 2015. Additionally, they acquired La Rochette Cartonboard, a company generating approximately €120 million in revenue, focusing on the Folding Boxboard market. These transactions reflect Mutares' strategy to expand its portfolio in the paper industry, alongside its interests in automotive and other sectors.


14. Demeter-Partners


Demeter-Partners is a venture capital and private equity firm based in Berlin, Germany, founded in 2007. The firm specializes in investments that promote energy and ecological transition, supporting innovative startups and small to mid-cap companies with funding and strategic guidance. With a focus on sustainable development, Demeter manages a diverse portfolio aimed at fostering ecological solutions. Notably, they have invested in Paprec Group, a key player in the recycling industry, which includes operations in recycled paper. Other transactions include investments in Lactips, Maltivor, and ICTYOS, showcasing their commitment to sustainability across various sectors.


15. SWEN Capital Partners

  • Website: swen-cp.fr
  • Type: Venture Capital
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 2014
  • Headcount: 51-200
  • Number of deals in 2024: 12
  • LinkedIn: swen-capital-partners

SWEN Capital Partners is an investment management firm based in Paris, Île-De-France, France, specializing in responsible investment across private equity, infrastructure, and private debt. Founded in 2014, the firm serves institutional clients by providing tailored investment solutions that integrate environmental, social, and governance factors. With over 15 years of expertise, SWEN aims to create sustainable value and support the transition to a more responsible economy. Notably, SWEN has participated in funding rounds for companies like Hubcycle, which focuses on recycling and sustainable materials, indicating their interest in the recycling sector. In 2022, SWEN joined a funding round for Hubcycle, further emphasizing their commitment to supporting innovative solutions in sustainability. This involvement highlights SWEN's alignment with the goals of the recycled paper manufacturing industry.



Recycled Paper Manufacturing Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
CrowdcubeLondon, England, United Kingdom (UK)51-20020103
AlmiStockholm, Stockholm, Sweden201-50019947
European Investment Bank (EIB)Luxembourg1001-5000195899
KatapultOslo, Oslo, Norway11-5020178
CvcLuxembourg1001-5000200516
BgfLondon, England, United Kingdom (UK)51-200201153
ArdianParis, Île-De-France, France1001-5000199621
AndritzGraz, Styria, Austria10001+18925
Tikehau CapitalParis, Île-De-France, France501-100020046
UI InvestissementParis, Île-De-France, France51-200196719
SuezParis, Île-De-France, France10001+19975
Mutares BeneluxAmsterdam, North Holland, Netherlands51-200202116
Demeter-PartnersBerlin, Berlin, Germany11-5020070
SWEN Capital PartnersParis, Île-De-France, France51-200201412


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