Herambiente purchases Aliplast
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Herambiente purchases Aliplast
The Ospedaletto di Istrana (Treviso) company, a national leader in plastic recycling, becomes part of the Hera Group, which thus confirms itself as one of Italy's foremost protagonists in recycling and in the development of a circular economy.

Herambiente, a Hera Group company and national leader in waste treatment and recovery, has signed a binding agreement with Aligroup S.r.l. to purchase the Aliplast Group, a widely recognised protagonist in Italy in the sector of collecting and recycling plastic waste, whose subsequent regeneration is part of an integrated process that transforms waste into products available for reuse.
The operation regards the acquisition of Aliplast shares, following a path that calls for 40% to be purchased within the current fiscal year, a further 40% within March 2018 and the remaining 20% within June 2022. The operation's enterprise value amounts to roughly € 100 million and implies an EV/EBITDA multiple of approximately 6.5, with no dilution for Hera shareholders.
The price furthermore provides for an additional component going to Aligroup S.r.l., defined as an earn-out provided upon reaching specific incremental results in EBITDA.
The agreement's implementation is subject to the usual conditions for similar operations, in particular theItalian Antitrust Authority's authorisation or non-prohibition of the purchase.
For the Aliplast Group, which processes over 80,000 tonnes of plastic material per year, a turnover of over € 100 million and an EBITDA of over € 15 million are expected for 2016.
This important operation further accentuates the shift, which has been underway for some time, from disposal to recycling and recovery, with a view to optimising resource usage. It is part of the Hera Group's ongoing efforts to broaden the boundaries within which it operates, a goal which has been pursued for years and is in line with its strategy of geographical expansion and integration.
With this operation, complementary to the ones involving Waste Recycling (Tuscany) and the environmental assets of Geo Nova (Treviso) carried out in late 2015, Herambiente will further expand its industrial client portfolio. At the same time, it will enrich its own commercial offer with a distinctive, even unique factor which is able to accelerate and facilitate the achievement of sustainability goals in 2020. Herambiente has thus established itself as a trustworthy partner, provided with expertise in managing all forms of industrial waste and able to offer efficient solutions with a complete set of services and processes aimed at creating value.
Established in 1982 by Roberto Alibardi, Aliplast is a national centre of excellence, a market leader in collecting plastic industrial waste and recycling and producing regenerated polymers. It was the first enterprise in Italy to fully integrate the entire life cycle of plastic, from environmental services in managing and collecting industrial residues to production and market sales of manufactured goods and packaging materials, produced with plastic recycled by the company itself.
Over 300 employees work in five plants in Italy and three abroad (Spain, France and Poland). The company headquarters is located in Ospedaletto di Istrana (Treviso). Its main clients include the most important Italian brands dealing with food & beverages, home furnishings and ceramics.
For this operation, the Hera Group turned to the legal services of Studio Grimaldi and the financial services of Lazard, while the Aligroup Group was supported bySpecial Affairs, through its partner Domenico Greco, acting as industrial and financial advisor for the operation, andAllen&Overy for the operation's legal aspects.
"In addition to further consolidating the Group's perimeter, this operation finds its place alongside the many initiatives implemented by Hera in promoting a circular economy", states Tomaso Tommasi di Vignano, Chairman of the Hera Group. "We have already reached some of the significant strategic objectives set by the European Union for 2025-2030, and our desire to continue along this path leads us to believe in the importance of integrating enterprises that have achieved levels of efficiency and excellence that enable us to meet the challenges that await us. Aliplast perfectly fulfils these requisites and we are certain that it will be able to offer an original contribution of its own, oriented above all towards innovation."
"Aliplast has developed over the years thanks to the quality and competitiveness of its products, and I believe that becoming part of a leading protagonist in environmental services such as the Hera Group will bring further benefits to our clients as well", explains Roberto Alibardi, Administrator and principal shareholder of Aliplast. "We have now shared a Business plan with our new associate, and our respective outlooks on strategic development are perfectly in line with one another, making it only natural for us to remain within the enterprise, acting as manager in the upcoming years."
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The facility can process up to 30,000 tonnes of polymers per year and produce flakes of a quality comparable to that of virgin raw material. €48.8 million has been invested, including €7.7 million from Italy’s NRRP funds, to develop a state-of-the-art facility designed to anticipate the growing demand for secondary raw materials driven by recent EU regulations.
Aliplast, a Hera Group subsidiary and one of Italy’s leading companies in plastics collection, recycling and regeneration, inaugurated its rigid plastics recycling plant in Modena this morning. The official opening of R3GID (Recover Recycle Regenerate Plastic), attended by Gilberto Pichetto Fratin, Italy’s Minister of the Environment and Energy Security, makes Hera one of the first multiutilities in Europe to operate a facility equipped to meet the growing demand for recycled plastics expected in the short to medium term under new EU regulations, including the Packaging and Packaging Waste Regulation (PPWR) and the End-of-Life Vehicles (ELV) Regulation.
Construction of Aliplast’s recycling plant began in 2024. Already operational for several months, the facility will employ 80 people at full capacity. It is among the most innovative plants in its sector in Europe and can process up to 30,000 tonnes of high-quality recycled polymers annually, with properties comparable to virgin materials derived from fossil feedstocks and a certified purity level of over 99%.
With an investment totalling €48.8 million, including €7.7 million in direct funding from Italy’s National Recovery and Resilience Plan (NRRP), Hera Group is providing Italian industry with a facility capable of recycling rigid plastic waste from both municipal and industrial sources. This includes sectors such as automotive, cosmetics, home and personal care, consumer electronics and furniture, which generate materials that are generally not recyclable and would therefore be sent for energy recovery or to landfill. At the Modena plant, Aliplast instead regenerates this waste into high-quality, traceable and certified polymers produced in Italy. These can be reused by the same industries to manufacture a wide range of products, including plastic components for televisions, computers and household appliances, make-up containers, tanks and bumpers, and garden furniture.
“R3GID is a clear example of how Italy can anticipate the challenges posed by new European regulations, from the PPWR to the ELV Regulation, and turn them into opportunities for industrial growth,” said Gilberto Pichetto Fratin, Minister of the Environment and Energy Security. “This plant combines Italian technology, an entirely Italian supply chain and a certified, traceable product with quality comparable to virgin raw materials. Producing secondary raw materials locally means strengthening the country’s competitiveness, reducing dependence on foreign markets and making our supply chains more secure, even in the face of geopolitical tensions and price volatility. Facilities such as this benefit the country as a whole.”
“Europe faces a structural gap in recycling: capacity is stagnant or declining, while new regulations will increase demand for recycled plastics with quality equivalent to virgin polymers,” said Orazio Iacono, Chief Executive Officer of Hera Group. “The figures speak for themselves. Europe currently has plastics recycling capacity of 13.5 million tonnes, but only 3.5 million tonnes for rigid plastics, including approximately 440,000 tonnes. By 2040, an additional 5.7 million tonnes2 of recycled rigid plastics will be needed: a substantial gap. R3GID is our response as a first mover. It provides Italian manufacturers with high-quality, locally produced materials, reducing import costs and ensuring security of supply. There is also a benefit for the country: Italy pays the European Union around €800 million each year in Plastic Tax on non-recycled plastic packaging, while the Modena plant alone could generate savings of approximately €24 million if its entire output were used for packaging.”
Hera Group developed the plant using best available technologies. NEXTCHEM, a MAIRE Group company, participated in the project as a technology partner, providing its proprietary NX Replast™ technology, an advanced solution for plastics upcycling. More broadly, the plant’s equipment and technologies enable the production of high-purity recycled polymers and compounds designed to replace virgin fossil-based materials in high-value-added applications. They also enable the development of tailor-made materials to meet specific functional, mechanical, aesthetic and regulatory requirements, expanding the potential uses of recycled plastics even in the most demanding market segments.
The circular economy on a single site
R3GID is located at Hera Group’s industrial hub on Via Cavazza in Modena, which already houses a waste-to-energy plant and a wastewater treatment plant. These existing facilities have enabled the creation of a circular system with Aliplast’s new plant: treated water supplies the rigid plastics recycling process before returning to the wastewater treatment plant, while electricity generated by the waste-to-energy plant powers the new business activities.
This reduces energy costs, which, even before the energy crisis, accounted for around 30% of production costs in Italy’s recycling sector, excluding raw materials. The plant also avoids approximately 30,000 tonnes of CO₂ equivalent emissions compared with production from virgin plastics, on a like-for-like production cycle basis.
Aliplast doubles its capacity
The Modena plant, the expansion of the facility in Borgolavezzaro (Novara) dedicated to low-density polyethylene (LDPE) recycling, and the acquisition of a 70% stake in Kronos Polymer Polska, also an LDPE specialist and expected to complete by the end of 2026, will enable Aliplast to double its recycling capacity and increase its operational flexibility. Annual capacity for high-quality secondary plastic raw materials will exceed 210,000 tonnes, with total production capacity reaching 255,000 tonnes per year.
The Modena investment forms part of the €2 billion allocated to the circular economy under the Group’s 2025–2029 Business Plan, out of total planned investment of €5.5 billion.
Innovation combining sustainability and competitiveness
This morning’s inauguration of Aliplast’s Modena plant provided an opportunity to discuss the future of plastics recycling, focusing on innovation and sustainability. Following institutional addresses by Massimo Mezzetti, Mayor of Modena, Michele de Pascale, President of the Emilia-Romagna Region, and Minister Gilberto Pichetto Fratin, Hera Group CEO Orazio Iacono outlined the plant’s role within the Group’s strategy. Andrea Ramonda, CEO of Herambiente, presented R3GID’s key features, while Michele Petrone, CEO of Aliplast, opened the morning’s proceedings.
The event continued with a roundtable moderated by Francesca Gambarini, a journalist at L’Economia, Corriere della Sera, bringing together representatives from industry and research: Paolo Accastello, Stellantis Manufacturing – Vehicle Area Manager Italy & Poland; Luigi De Nardo, Head of the “Giulio Natta” Department of Chemistry, Materials and Chemical Engineering at Politecnico di Milano; Fabrizio Di Amato, Chairman and Founder of MAIRE Group; Antonino Furfari, Managing Director of Plastics Recyclers Europe (PRE); Paolo Goi, Global Innovation, Research & Quality Director at Davines; Maurizio Mezzelani, Head of R&D at Fratelli Guzzini; and Simone Targetti Ferri, Sustainability Officer at L’Oréal Italia. Following the ribbon-cutting ceremony, the morning concluded with a guided tour of the plant.
The European plastics recycling landscape and regulatory developments
The Packaging and Packaging Waste Regulation (PPWR), adopted by European countries in 2025, will require an additional 5.7 million tonnes of recycling capacity for rigid HDPE and PP plastics across Europe by 2040 compared with current levels. Of this, 2 million tonnes will need to be available by 2030 to meet increasing regulatory requirements for recycled content in packaging. The End-of-Life Vehicles (ELV) Regulation, approved in June 2026, will also contribute to demand. It introduces minimum recycled plastic content requirements for new vehicles of 15% from 2032 and 25% from 2036, with at least 20% of that recycled content required to come from end-of-life vehicles. As the ELV Regulation applies only to new models placed on the market, its full impact on the entire vehicle fleet is not expected before 2042. By that date, 1.2 million tonnes of post-consumer recycled plastics will be required.