51% of Danish tire recycler Genan sold to Maj Invest Equity
According to the press release by Genan from October this year, new majority shareholder of environmental company Genan, one of the largest tire recycling companies in the world, is Maj Invest Equity 5 K/S. Sole owner of Genan since 2014, PKA has made an agreement with Maj Invest Equity for the latter to take over 51% of shares. PKA continues to co-own as minority shareholder. Genan Holding A/S is the parent company of the Genan group, which counts six recycling plants in Denmark, Germany, Portugal and the USA – and has more than 300 employees worldwide. Genan’s annual report for 2020, which was presented in May, showed an EBITDA of just under EUR 12m, which is a most satisfactory result considering the Corona crisis.