Plastic Repair System 2011, SL (PRS) , a multinational company specialized in the repair, maintenance and adaptation of returnable transport packaging (RPCs) such as pallets, crates, honeycombs or containers, has raised 4 million euros to accelerate its international growth and help companies become more sustainable. The funding round has been led by IMPACT Partners, and the funds will allow PRS to strengthen the team and open operations in other countries to continue to help companies become more sustainable.
The company’s thermowelding repair services return at least 98% of the original strength and 100% of the functionality of the element and could be applied to different industries such as the automotive industry, the food industry, municipal solid waste (MWW), sport or leisure. The company is already a reference provider for multinational companies’ leaders in industries such as the automotive industry, pooling, food, and beverages.
“Extending the useful life of these items 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”, stated Alfredo Neila, Co-Chief Executive Officer at PRS.
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 plastic elements. They have parameterized and standardized the process that is needed for making each repair, optimizing the time needed, which allows them to serve 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 builtin 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, which 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 calculating the Carbon Footprint of the repair process (greenhouse gas emissions). The company is determined to continue expanding internationally, to increase the efficiency of its processes thanks to technology and, above all, to continue promoting its environmental and social vocation. It is precisely to achieve these objectives that it has recently signed the investment round, which 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 be more sustainable, so this round of investment will allow us to continue our international expansion and accompany our clients in their transformation", assured Miguel Díaz, founder of PRS.
PRS had previously obtained the support of private investors such as Easo Ventures, in addition to several business angels and public institutions such as ENISA and the European Commission. With this investment, IMPACT Partners continues its investment activity at a 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 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 the social impact achieved 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 personalized advice.
PRS demonstrates day by day that it is possible to create a sustainable company with a great environmental and social purpose, as well as high growth potential. In this investment round, PRS has been advised by www.ga-po.com and www.inspiria.es .
About PRS ( www.plasticrepair.eu/ ): PRS is a multinational company specialized in the repair, maintenance and adaptation of returnable transport packaging (RPCs) such as pallets, crates, honeycombs or containers.
About IMPACT Partners ( www.impact-partners.com ) IMPACT partners is a private equity platform fully dedicated to impact investing. Based in Paris, the partners of IMPACT Partners manage more than 350m€ to promote social entrepreneurship in Europe.
About IMPACT Partners Iberica
Advisory advisory office of IMPACT Partners based in Barcelona to cover the activity in Spain and Portugal.
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