10 million euros from illimity Bank to Amut for developing the recycling segment

A high-tech bank listed on Borsa Italiana’s Star segment, illimity Bank has completed a financing operation worth 10 million euros to support the growth plans of Amut. The significant growth in the recycling segment and the need to continue investing, in order to become even stronger in an expanding business with a positive impact in terms of sustainability, led Amut to seek a banking partner capable of understanding the dynamics of the repositioning taking place and of providing the support required to be able to continue with the development plan.

Thanks to an approach combining financial skill and technological and industrial expertise, illimity worked alongside the company during the analysis phase, assistance which included advice given by a tutor expert in the plastic processing and recycling sector, considered to be both sustainable and high-potential. A medium-term financing operation worth 10 million euro and consisting of two tranches was accordingly structured, of which one, amounting to 6.25 million euro, is guaranteed by the Italian Central Guarantee Fund.

“We are proud to support a company like Amut which has converted its business from the viewpoint of greater sustainability and profitability”, commented Enrico Fagioli, Head of illimity’s SME Division. “The unstable and uncertain situation in which we find ourselves calls for the banking system to work particularly closely with businesses. For this reason, illimity continues to support the growth of Italian SMEs in the best way possible and by the most effective means, performing a detailed analysis of the underlying business together with its potential and the relative growth plans”, he added.

“Amut has identified the ideal partner in illimity for continuing this business relaunch and conversion phase. A partner capable of looking at the Company’s business plan, conducting assessments that go beyond the numbers of the past and focusing on the Company’s growth plans and business potential”, commented Mauro Drappo, Chief Executive Officer of Amut. “The development of the plastics sector over the past few years has led Amut to concentrate on recycling, and the conversion process calls for investments to deal among other things with the significant growth in contracts that we are experiencing”, he concluded.