Pizzorno Environnement Set to Sell 30.64% Stake to Paprec
The Pizzorno-Devalle family is considering exercising the first purchase option outlined in the shareholders' agreement signed with Paprec in November 2021. If the deal goes through, the family would sell 30.64% of Pizzorno Environnement's share capital to Paprec at a price of €62.50 per share.
Paprec would then become the majority shareholder, holding 50.64% of the company's capital and 50.02% of the voting rights. Meanwhile, the Pizzorno-Devalle family would retain its status as a key shareholder, keeping 21.18% of the capital and 30% of the voting rights, making it the group's second-largest shareholder. The company emphasizes that the family will remain "at the heart of this new project."
Groupe Pizzorno Environnement is one of the French largest environmental services suppliers. Net sales break down by activity as follows:
- waste collection, transportation, sorting and cleaning (79.5%): household, commercial, and industrial waste collection, compaction, pressing, and truck transportation services, dumpsters placed at industrial sites for removal of waste to sorting platforms, etc. The group also offers sanitation services (sewer and septic tank cleaning, clean and dirty water system maintenance, pumping for cisterns, basements, and other inundated sites, etc.) and industrial cleaning (services for commercial spaces, malls, offices, public buildings);
- waste processing (20.5%): operation of storage and processing facilities for household garbage, industrial wastes, slurries and slag.
France accounts for all net sales.
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