KOSIT a.s., owned by the investment group WOOD & Company, acquired a 90% stake in DETOX s.r.o. at the end of September this year. DETOX has been operating on the Slovak market for more than 30 years and has 100 employees. With turnover reaching almost 11 mil. EUR it is one of the largest Slovak companies in the field of hazardous waste management. DETOX is also engaged in the remediation and decontamination of environmentally burdened areas.
"Hazardous waste represents a substantial part of the waste generated in Slovakia. As a side effect of the country’s industrial advancement, it is extremely important that it is processed in an environmentally friendly and sustainable manner. DETOX becoming part of KOSIT Group offers opportunity for significant expansion of our services in the field of hazardous waste management, but also greater regional coverage, what is part of our strategy. “, says Marián Christenko, CEO of KOSIT a.s.
DETOX is headquartered in Banská Bystrica with operations in Rimavská Sobota and Trnava. Daniel Studený, who has been successfully leading the company since 2015, will remain its CEO for the future.
"The entry of a new shareholder to DETOX is an important milestone for all company’s employees. If we accomplish, in cooperation with KOSIT, to implement all the projects in progress, our company will significantly strengthen its position on the market.", says Daniel Studený.
"WOOD & Company has been operating in the field of waste management since 2014 and the acquisition of DETOX is a logical continuation of our strategic direction. I believe that thanks to this acquisition, we will be able to progress Slovakia towards managing its waste in a modern and environmentally-friendly way. At the same time, it is a strong signal for investors who entrust us with funds to strengthen our position in this field.", adds Martin Šmigura, Investment Director of WOOD & Company.
According to Marian Christenko, DETOX's investment plans fit into the KOSIT Group's strategy. "Currently, we are working on significant investment projects worth almost 50 mil. EUR and I am convinced that the expertise and competence of our new colleagues from DETOX will be the basis for their successful implementation", says Marián Christenko.
KOSIT is a vertically integrated group primarily focused on providing waste management services for the municipal sector and complex services for customers in the industrial and commercial sectors. In addition to the waste-to-energy plant (ZEVO) in Košice, or the biogas plant for recycling biological waste, the KOSIT Group operates several waste disposal facilities in the Košice, Prešov, and Nitra regions. KOSIT Group has more than 925 employees and its projected consolidated turnover in 2023 is almost 70 mil. EUR.