Lindström invests in the circular economy company Rester and becomes the company’s second largest owner
Lindström Group has participated in the funding round of Rester Oy, which offers textile recycling solutions, held in March 2022, and will become a significant minority shareholder in the company. With the participation, Lindström’s and Rester’s co-operation to process Lindström’s Finnish and Baltic waste textiles for industrial reuse, which began in early 2021, will deepen and expand internationally. Lindström’s strategic goal is to recycle 100% of its textile waste globally by 2025.
The investment supports Lindström’s strategic goal to build environmentally friendly, circular economy-based textile services in cooperation with its partners. Rester is a well-known pioneer in its field, with a solid business foundation and scalable technology. The recycled fiber processed by Rester is used, for example, in the textile industry to produce fabrics or technical textiles, and in the construction industry for the production of insulation and composite materials and acoustic panels.
The growth potential of textile recycling is significant globally. Its growth is driven by both consumer expectations and tighter regulation of textile products. Lindström believes that the textile industry will move towards circular economy operating model.
“Rester collaboration was a strategic partnership for us from the beginning. We are a pioneer in our industry, and we want to accelerate the systemic change of the entire textile industry. Demand for sustainable textile services is growing in all our markets, and we strongly believe that lower emission recycled fibers will increasingly replace virgin fibers in a variety of textiles. Closer cooperation with Rester completes our circular economy operating model and supports the closed-loop product development of textiles, where end-of-life textiles are recycled as fiber back into fabric manufacturing,” says Juha Laurio, President and CEO of the Lindström Group.
Rester’s CEO Outi Luukko emphasizes that the goal of the cooperation has always been to develop the circular economy of textiles. With the EU’s textile strategy emphasizing the reuse and recyclability of textiles, this goal has proved to be extremely timely.
“Lindström has been involved in Rester’s operations almost from the very beginning and has thrown itself with us to solve the challenges of textile recycling, and I see the participation as a very natural step in deepening our cooperation. Our common goal is to expand Rester’s operations into the international market in the future. Lindström has operations in more than 20 markets and a strategic goal to solve the recycling of waste textiles in all its operating countries. Strong cooperation enables a real win-win situation and the environment also thanks,” says Luukko.
Taaleri Sijoitus Oy and Besodos Investors Oy also became owners of Rester during the financing round. Besodos is a family-owned investment company founded in 1995 that invests primarily in sustainable development companies. Taaleri, on the other hand, is a Nordic private equity fund with a vision to be a Nordic pioneer in alternative investments focused on sustainable development.
“Besodos Investors and Taaleri both represent responsible investing and focus on companies that promote a green transition. It is really valuable for an SME that is at the forefront of an evolving circular economy market like Rester to get information and experience from these stakeholders to solve the challenges of sustainable development and thereby support growth,” says Luukko with satisfaction.
Value Group acted as Rester’s financial advisor during the financing round.
Juha Laurio, President & CEO, Lindström Group, tel. +358 40 5016299, email@example.com
Outi Luukko, CEO, Rester Oy, tel. +358 400 406083, firstname.lastname@example.org
Jorma Alanne, CEO, Taaleri Sijoitus Oy, tel. +358 50 68865, email@example.com
Hanna Liiri, CEO, Besodos Investors Oy, tel. +358 40 5205549, firstname.lastname@example.org
Lindström is a family-owned textile service company based on a circular economy. With 4,700 dedicated employees, we provide responsible and easy-to-use textile services to our customers in Europe and Asia. We offer our customers safe and hygienic solutions to ensure the best possible customer experience and at the same time help them to act more responsibly. In 2021, the Lindström Group’s turnover was EUR 432.5 million. www.lindstromgroup.com/fi
Rester is a leading global forerunner in building textile recovery value chains. Located in Southwest Finland, the company offers textile recycling solutions that can be used to process end-of-life textiles and by-products of manufacturing into recycled fibers and quality raw materials. During the process, the textiles are opened mechanically back into fibers. Rester recovered fiber can be used by a great diversity of sectors to replace virgin raw material. Our customer base consists of businesses that supply us with end-of-life textiles that they no longer need and businesses that use recycled Rester fiber in their production or for their products. Founded in 2019, Rester began its operations in November 2021. Rester’s principal owner is Touchpoint Oy, a manufacturer of ecological workwear. www.rester.fi
Taaleri Investments Ltd
Taaleri Investments Ltd is a Nordic investment and asset management company focusing on renewable energy and other alternative investments. The company channels capital to economically profitable targets that have a lasting positive impact on the environment and society. Taaleri signed the UN Principles for Responsible Investment in 2010 and joined the Net Zero Asset Managers initiative in 2021. Taaleri’s vision is to be a Nordic forerunner in alternative investments focusing on sustainability. The company’s investment and asset management business consists of renewable energy, real estate and bioindustry operations. Taaleri Plc is listed in NASDAQ Helsinki. www.taaleri.com