The Motor Oil Group has signed an agreement to acquire 60% of ENACT SA through its subsidiary Ireon Investments Ltd, further strengthening its presence in the circular economy. ENACT operates in the waste management sector, providing upgraded waste management services to ensure high levels of environmental protection and public health. This transaction is part of Motor Oil Group’s strategy for sustainable development, business diversification, and utilizing waste as resources and energy, with completion expected by 2026.
Strategic partnership between Motor Oil and ENACT
This strategic investment marks a milestone for ENACT SA’s journey, signaling the beginning of a new, dynamic phase of development and growth. The partnership with one of the country’s strongest and most established energy and industrial groups substantially strengthens the company’s market position and contributes decisively to expanding its development prospects across various business sectors. Motor Oil, with its strong presence in the circular economy sector, proven expertise, and strategic direction toward innovation and sustainable development, represents an ideal partner for ENACT. This participation is expected to substantially contribute to accelerating the company’s business plan implementation, improving service quality, and creating new opportunities.
ENACT’s management remains steadfastly focused on achieving ambitious goals, leveraging this new partnership as a driver for further development while continuing to invest in quality, innovation, and trust with customers and partners. This agreement confirms ENACT’s dynamism and reliability while laying the foundation for an even stronger and more sustainable future.
Motor Oil’s official announcement
Motor Oil announced the signing of an agreement to acquire, through subsidiary IREON INVESTMENTS LTD, a 60% stake in ENACT SA’s share capital. This specific investment move is part of Motor Oil Group’s overall strategy to create shareholder value with emphasis on sustainable development and portfolio diversification through targeted acquisitions.
As a result of penetrating the circular economy sector, Motor Oil Group has developed a dynamic ecosystem that manages approximately one million tons of waste annually. ENACT possesses specialized expertise in waste collection, transportation, and temporary storage, as well as designing and implementing projects in the broader circular economy sector. Through this acquisition, Motor Oil Group expands its portfolio by adding high-value-added activities and gaining the ability to convert waste into useful resources and energy.
Statement from ENACT SA Chairman & CEO Mr. Spyros Lolis
“ENACT SA is entering a new, particularly dynamic era. Motor Oil Group’s 60% participation in our company’s share capital represents a strategic development of decisive importance for our future. This specific partnership constitutes a strong vote of confidence in ENACT’s vision, trajectory, and growth potential.
The alliance with one of Greece’s most powerful and outward-looking groups creates conditions for faster development, strengthening our presence in the Greek market, and capitalizing on new, significant business opportunities. With Motor Oil’s expertise, strategic approach, and investment capabilities, ENACT substantially strengthens its position as a modern, reliable, and dynamic organization, accelerating goal achievement and upgrading the range and quality of services provided.
We continue with clear direction. We strengthen our momentum, accelerate our development, and create new prospects for tomorrow. The company continues stronger, more ambitious, and with even greater dedication to the value it offers customers, partners, and employees.
Transaction completion is expected by 2026.
