AKTOR acquires 75% stake in HELECTOR and THALIS from Motor Oil

Through this transaction, AKTOR Group will indirectly acquire 75% of the two companies, accelerating the implementation of its strategy for growth in the fields of the circular economy and water resources management.

The agreement values the two companies at an Enterprise Value of €300 million (on a 100% basis), while the final consideration will be determined upon completion of the transaction, following adjustments for net debt, cash balances and other contractual adjustments provided for in the agreement.

The companies to be acquired demonstrate strong operational profitability, with their combined EBITDA reaching €40.8 million in 2025, while for 2026 it is estimated to exceed €41 million.

Completion of the transaction remains subject to customary approvals, including approval by the Hellenic Competition Commission, and is expected to take place by the end of the first quarter of 2027.

Strategic Partnership with Motor Oil

AKTOR Group Chairman and CEO Alexandros Exarchou described the agreement as the starting point of a strategic partnership with Motor Oil in the areas of the circular economy and water resources management.

He noted that the acquisition significantly strengthens the Group’s footprint and expertise in environmental projects, creates new business opportunities, and accelerates the implementation of its strategy to increase recurring revenues and diversify its sources of profitability.

“Consistency between words and actions is our guiding principle, and this partnership confirms our commitment to making AKTOR Group even larger,” he stated.

Strengthening Position in Circular Economy and Public-Private Partnerships

Through this acquisition, AKTOR Group significantly enhances its position in the environmental projects market, gaining access to a mature portfolio of waste management projects, concessions and Public-Private Partnerships (PPPs).

The agreement is expected to expand the Group’s capabilities in future waste management tenders, add significant operational projects to its portfolio and create strong synergies with its other business activities, while further increasing the contribution of recurring revenues to overall profitability.

HELECTOR Brings Extensive Expertise

HELECTOR is one of the leading companies in waste management and Waste-to-Energy generation, with extensive experience in Greece and abroad.

The company currently operates seven municipal solid waste treatment facilities in Greece and Cyprus, two hazardous healthcare waste management facilities and four electricity generation units using landfill biogas, with total installed capacity exceeding 33 MW.

At the same time, HELECTOR has undertaken a number of new projects, including waste treatment facilities in Agrinio, the PPC combined heat and power (CHP) unit at the Kardia power station, waste management projects in Andros, environmental infrastructure projects in Crete, and projects in Germany.

Of particular importance is its participation in the Western Macedonia waste management PPP project, the first project of its kind to be tendered in Greece.

THALIS Strengthens Presence Across the Water Cycle

Complementing HELECTOR’s activities, THALIS brings strong expertise in environmental projects, circular economy solutions and water management.

The company operates in solid waste management, Waste-to-Energy generation, contaminated land remediation and the development of water cycle solutions, while maintaining a significant presence in Crete and Northern Greece.

At the same time, THALIS is expanding into the digitalisation of environmental infrastructure and smart city applications. Among its key projects are wastewater treatment facilities in Crete, which will enable the use of recycled water for the irrigation of large agricultural areas.

The acquisition forms part of AKTOR Group’s broader strategic plan to expand its activities in high value-added sectors, with a focus on environmental infrastructure, the circular economy and sustainable development projects, which are expected to serve as key growth drivers in the coming years.