Pamplona, September 2022. Plastic Repair System (PRS) is a circular economy company founded in 2011 specialized in repair, maintenance and adaptation of returnable transport packaging (RPCs), such as pallets, crates, honeycombs, containers, …
Its thermowelding repair services return 98% of the original strength and 100% of the functionality of the element and could be applied for different industries such as automotive, food Industry, Municipal Solid Waste (MSW), Sport and leisure, …. The company is already a reference provider for multinational companies’ leaders in industries such as beverage, pooling, food, automotive, etc.
“Extending the useful life of these object has a double add value proposition: on the one hand, the customer only pays approximately ≈30% of the price of buying a new element, and on the other hand, PRS services are 311x better in terms of CO2 emissions than recycling and replacement.” said Alfredo Neila Co-Chief Executive Officer.
Its facilities have more than 6,500 m2 spread over 4 repair plants, 3 in Spain and 1 in Mexico, and employ more than 65 people.
The generation of employment has been one of the key elements for IMPACT Partners’ commitment to PRS. The company hires people who are unemployed and trains them in a new profession: “plastic welder”.
“Companies with circular economy models that are emerging in the market will be one of the sources of stable employment generation in the coming years”. Commented Elena Rico, Managing Partner at IMPACT Partners Iberica.
PRS has the capability and the knowledge to repair a huge number of different plastics elements. They have parametrized and standardizes the process that is needed for making each repair, optimizing the time needed, which allows them service large customers faster and cheaper.
But the innovation of PRS is not only based on the reparation process, for example, PRS was the first company in the sector that developed and patented its own welding wire with a built-in tracer to prove that the object has been repaired by them, which guarantees its quality.
The company offers these services within the framework of the best certifications: ISO 22000:2018 certification on food quality and safety is guaranteed throughout the production chain; ISO 14001:2015 on environmental management criteria; ISO 9001:2015, on quality management systems; and ISO 14067:2018, on the calculation of the Carbon Footprint (greenhouse gas emissions).
The company is determined to continue expanding internationally, increasing the efficiency of their processes thanks to the technology and, above all, further enhance its environmental and social vocation. To accomplish these objectives, it recently signed a € 3 million investment round with IMPACT Partners. This investment round will be complemented by external financial debt.
” A professional and qualified team, our own technology and an efficient and rigorous process allow us to affirm that it is better to repair than to buy a new object. Companies are just starting to apply this paradigm to become more sustainable, so this round of investment will allow us to continue our international expansion and accompany our clients in their transformation. ” said Miguel Díaz, founder of the company.
PRS had previously obtained the support of private investors as EASO Ventures in addition to several business angels and public institutions as ENISA and the European Commission.
With this investment, IMPACT Partners continues its investment activity at European level through its IV Growth IMPACT Fund, which already has 14 investments. The Paris-based impact investor started its activity in 2007 with the firm conviction that supporting entrepreneurs with a social purpose can improve society without sacrificing the profitability on investment of the sector.
With offices in Paris, Frankfurt and Copenhagen, more than 350 million euros under management and a team of more than 40 people, IMPACT Partners aims to position itself as the first pan-European impact investment platform.
Following this investment, IMPACT Partners will continue to actively seek companies that want to make a positive social impact in Europe. Companies must present a validated business model, propose a European expansion plan and demonstrate social impact to date. These companies could be supported both financially (through contributions ranging from 1 million to 15 million, taking a minority equity position) and with personalised advice.
PRS is a company that demonstrates day by day that it is possible to create a really sustainable business with a great environmental and social purpose and with high growth potential.
Sobre PRS (https://www.plasticrepair.eu/)
Plastic Repair System (PRS), a multinational company specialized in repair, maintenance and adaptation of returnable transport packaging (RPCs), such as pallets, crates, honeycombs, containers, …
About Impact Partners (www.impact-partners.com)
IMPACT partners is a Private Equity platform fully dedicated to impact investing. Headquarters in Paris, IMPACT partners manages more than 350m€ to boost social entrepreneurship in Europe.
About Impact Partners Iberica
Advisory office of IMPACT Partners, based in Barcelona to cover activity in Spain and Portugal.