Norwegian manufacturer Tomra has acquired 80 per cent of Germany’s c-trace, with the aim of “driving innovation and unlocking new market opportunities”
Tomra has announced the acquisition of 80 per cent of the shares in c-trace, a German leader in digital waste management solutions.
“We are very enthusiastic about joining forces with c-trace,” said Tove Andersen, president and CEO of Tomra. “This allows Tomra to broaden our offering in the waste management and recycling space and adds new digitalisation capabilities across the recycling value chain.”
Andersen said that by combining Tomra’s solutions and customer base with c-trace, the company can drive innovation and unlock new market opportunities.
“Over the next years, our priority will be to expand c-trace’s international presence by utilising Tomra’s global footprint,” he said. “Ultimately, our common ambition is to increase collection and recycling rates – turning more waste into valuable resources – by shaping tomorrow’s recycling infrastructure.”
Founded in 2005, c-trace offers advanced solutions combining software and hardware modules to digitise and improve the process for waste management operations.
“As municipalities and industries increasingly seek to reduce inefficiencies and comply with stricter environmental regulations, demand for these solutions is rising,” Tomra said. “Through its innovative solutions and strong customer base, c-trace has a leading position in Germany, which is the largest market in Europe. Its strong focus on new AI-driven capabilities has generated market interest and is opening new market opportunities in the segment.”
Tomra said the acquisition aligned with the strategy it outlined at the 2024 Capital Markets Day, including the development of adjacent business building such as through mergers and acquisitions.
“The addition of c-trace will support Tomra’s goal of driving additional profitable growth and diversifying its revenue streams while broadening its market impact,” the company said. “C-trace is attractive to TOMRA for three main reasons. Firstly, the market c-trace operates in – digital waste management solutions – demonstrates strong growth and profitability. Secondly, this adjacent market fits Tomra’s positioning and is an area where Tomra can create additional value. Finally, c-trace is an ideal entry point into this market due to its leading position.”
Revenues at c-trace, which employs around 120 people, totalled €21mn in the last 12 months, with 80 per cent of sales coming from the German market, which has grown by 15 per cent in the last five years, according to Tomra.
The company will initially acquire 80 per cent of the shares in c-trace, with an option to buy the remaining 20 per cent from the founders after two years.
