Environmental services: Rinovha, a hub for hazardous industrial waste, is born

Rinovha, a new private cluster specialising in the management of hazardous industrial waste, is born. Xenon Private Equity has taken over and aggregated four Italian companies active in the whole chain of environmental services, from intermediation to collection, from recycling to disposal: Alm.Eco, Gamma, Marcon and Vico.

The group, as part of a strategy with a focus on Italy, aims to become one of the largest operators in a historically fragmented sector. With over 300 employees, more than 3,000 customers served, and an estimated turnover of 140 million euro by 2025, it aims to reach 200 million in revenues in 2026 through both organic growth, also given by the synergies and efficiency actions to be developed, and the entry of new companies. The project has the financial support of the French fund Tikehau Capital, which will make additional resources available to support the group in other acquisitions as well.

"Xenon has a long experience in the waste sector, with holdings such as in Eco Eridania, Benfante and ReLife," explains the new group's CEO Gianluca Cencia: "It is a sector that has been polarising for some years now, but remains fragmented, especially as far as special hazardous waste is concerned. The idea behind our project was therefore to create a player specialised in this category: a group born from scratch with complementary realities in terms of geographical scope and different characteristics. Rinovha does not come from the growth of a single company, but is a pole capable of responding coherently to the industrial vision at its base: a subject focused on Northern Italy, where hazardous waste production is concentrated, and with a dual soul, on the one hand industrial treatment and on the other brokering and trading.

In fact, Rinovha encompasses within the same perimeter all phases of environmental management: from brokering, collection and transport, waste treatment and disposal, industrial decommissioning to complex reclamation, in Italy and abroad. These are the activities of the four companies that make it up. Alm.Eco, based in Pavia, has been offering integrated waste transport, recovery and disposal services throughout Italy for 25 years, managing more than 500,000 tonnes per year, and this year opened an office in Piacenza, with a dedicated export office.

Gamma, founded in Bolzano in 1975, is active in brokerage services, transport, recovery and disposal of hazardous and non-hazardous waste, with particular focus on the steel, wood, paper and building materials sectors: it has relationships in the main European countries. Marcon of Maser, in the Treviso area (with the other companies in its perimeter: Treviso EcoServizi and Zatta), has 40 years' experience in the collection, transport, treatment, recovery and disposal of solid and liquid waste, hazardous and non-hazardous, in the Triveneto region. Finally, Vico, based in Cairo Montenotte (Savona), deals with decommissioning, environmental reclamation and industrial demolition.