Re-Match the Netherlands is currently enjoying a suspension of payment. Sportsfields.info understands that the private equity partner has reneged on its commitment to provide further funding to help the organisation grow.
The latest development follows fast on the heels of the closure of the plant in Henning, Denmark. At the time, Erik Osmundsen, partner of Verdane, and a member of Re-Match’s board, stated that they “have strong belief in the mission of the company and will seek to support it throughout the process.” Verdane is the private equity partner.
Within a month, the company was forced to apply for a suspension of payment for its operation in the Netherlands. This plant only started operating in 2023. Sportsfields.info has reached out to Verdane but is still awaiting a reply. Once this has been received, it will be added to this article.
Supply issues
Re-Match has no problem selling the reclaimed material but is struggling to receive sufficient material to process. The statement issued to announce the closure of the Danish plant mentions that “the industry and tender system still does not fully or sufficiently incentivize municipalities and turf providers to recognize the value of circularity and to use the most effective circular solution to handle their used artificial turf.”
Re-Match considers that to be a comparative disadvantage, due to its innovative and unique artificial turf circularity solution.
In the Netherlands, Re-Match is competing with AGR, previously known as GBN-AGR. Last week, AGR announced that it had been bought out by its former director Eric van Roekel and his investment vehicle, together with TenCate Grass and the Sport and Leisure Group.
These two organisations own a string of companies involved in the production and installation of synthetic turf, including Greenfields, CSC Sport, Domo Sports Grass and Limonta Sport. Collectively, they dominate the Dutch market.
150 kilometres to the east, German recycler Formaturf is slowly coming online, and, as such, is making its presence felt. Every year, an estimated 300 synthetic turf football and hockey fields are being renovated in the Netherlands.
Business as usual
Re-Match the Netherlands employs approximately 30 FTE who have continued working as usual, pending the outcome. In a presentation the company delivered recently and was attended by Sportsfields.info, Re-Match points out that it cost EUR 8.5 million to get a plant up and running and that it requires a window of two years to build, install and test-run its plant.
Sportsfields.info has learnt that the company is currently having some promising talks to get things sorted out. It is expected that they will produce an official announcement in the coming days.
The company is currently weighing up its options, including a restart or the involvement of other synthetic turf stakeholders.
French connection
The operation in France is running and appears to be not affected. Here, Re-Match has partnered with a French consortium that has invested in the plant. This plant started operating late last year and is still in the process of becoming fully operational.