Repurpose It announces sale of business

repurpose it sold

Melbourne-based resource recovery business Repurpose It has been sold to asset manager Palisade Impact.

Confirming the sale, George Hatzimanolis, Repurpose It founder and Chief Executive Officer, said he was excited about the future for Repurpose It and the exponential growth that can be achieved with additional funding that a new owner will be able to provide.

“Over the past six years we are extremely proud of the growth experienced as a market leader in the circular economy, repurposing materials and giving them new life in the construction and landscaping industries,” Hatzimanolis said.

“We look forward to working with our new investor who shares a similar growth mindset to help take Repurpose It to a whole new level of success. With a continued passion and very clear vision of changing the resource recovery industry, we are ready to scale further to make a larger impact.”

Repurpose It transforms industry waste such as contaminated soil, timber, concrete, food and garden organics, into products that can be re-used in industries as diverse as major infrastructure works, construction and building, as well as landscaping.

Since its establishment the company has grown from four employees to 200 and cemented its environmental credentials. Along the way there’s been two Premier Sustainability Awards, a Westpac Top 20 Business of Tomorrow award and in October 2022, the company was recognised as one of Australia and New Zealand’s Most Innovative Companies by Australian Financial Review. 

Palisade Impact’s philosophy is to invest for impact by seeking to deliver attractive long-term returns and a tangible and measurable social and environmental benefit. Its senior management team has significant experience in impact investing, infrastructure investing, as well as in growth equity investing.

 

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