One of the largest corporate transactions in Greece’s environmental infrastructure sector was announced today, as AKTOR Group and Motor Oil Group signed a binding share purchase agreement under which AKTOR will acquire 75% of MANETIAL LIMITED, the holding company that fully owns HELECTOR S.A. and THALIS E.S. S.A.
The acquisition marks a major milestone in AKTOR’s long-term strategy to expand its presence in the rapidly growing sectors of circular economy, waste management, and water resources, while establishing a strategic partnership with one of Greece’s leading energy groups.
Enterprise Value Set at €300 Million
The transaction values the two companies at an Enterprise Value of €300 million (100%).
The final purchase price will be determined upon completion of the transaction after adjustments for net debt, cash balances, and other customary closing provisions.
Completion remains subject to standard regulatory approvals, including clearance by the Hellenic Competition Commission, and is expected no later than the first quarter of 2027.
The acquisition is backed by strong financial fundamentals:
- Combined EBITDA reached €40.8 million in 2025.
- EBITDA is expected to exceed €41 million in 2026, highlighting the businesses’ stable recurring profitability.
Alexandros Exarchou: “We Are Making AKTOR Even Bigger”
AKTOR Group Chairman and CEO Alexandros Exarchou described the agreement as a strategic milestone for the company.
“By acquiring a majority stake in HELECTOR and THALIS, we are launching our strategic partnership with the Motor Oil Group in the fields of circular economy and water resource management.”
He stressed that the acquisition will:
- strengthen AKTOR’s expertise in environmental projects,
- expand business opportunities,
- accelerate the Group’s diversification strategy,
- increase recurring revenue streams.
“We have repeatedly said that consistency between words and actions is our core principle. This agreement confirms exactly that: making AKTOR an even bigger and stronger group.”
Stronger Position in Circular Economy
The acquisition significantly reinforces AKTOR’s environmental portfolio.
HELECTOR is one of Greece’s leading waste management companies, specializing in:
- municipal waste treatment,
- waste-to-energy projects,
- environmental concessions (PPP projects),
- operation of waste treatment facilities.
Today the company operates:
- 7 municipal solid waste treatment plants in Greece and Cyprus,
- 2 hazardous medical waste treatment facilities,
- 4 landfill biogas power plants with a combined installed capacity exceeding 33 MW.
HELECTOR is also involved in major projects, including:
- the Agrinio Waste Treatment Plant,
- the Western Macedonia PPP waste management project,
- environmental infrastructure projects in Crete, Andros, and Germany,
- PPC’s high-efficiency cogeneration unit at Kardia Power Plant.
THALIS Strengthens Water and Environmental Infrastructure
THALIS complements HELECTOR by bringing extensive expertise in:
- wastewater treatment,
- water circular economy,
- contaminated land remediation,
- environmental engineering,
- smart environmental infrastructure.
The company has delivered dozens of projects across Greece, with a particularly strong presence in Crete and Northern Greece, including advanced wastewater treatment facilities designed to support agricultural irrigation and sustainable water management.
Strategic Growth for the Green Economy
The acquisition is fully aligned with AKTOR’s strategy of expanding into sectors that generate stable, recurring revenues while supporting Greece’s green transition.
Combined with Motor Oil’s strategic participation, the agreement creates one of the country’s strongest business platforms in environmental infrastructure, positioning the partnership to capitalize on the growing pipeline of public-private partnership (PPP) projects in waste management, renewable energy, and sustainable environmental infrastructure.
As Greece continues investing heavily in circular economy and green development, the transaction is expected to strengthen AKTOR’s role as one of the country’s leading infrastructure and environmental groups while contributing to the long-term modernization of the sector.
Source: pagenews.gr