Success story KNETTENBRECH + GURDULIC Service GmbH & Co. KG, Commerzbank: where growth meets sustainability
KNETTENBRECH + GURDULIC: combining green financing with subsidised loans, leases and risk management
KNETTENBRECH + GURDULIC is one of the leading mid-sized companies in Germany’s waste management sector. With 2,400 employees and a fleet comprising 700 trucks, the company manages 1.8 million tonnes of waste at 34 locations every year. KNETTENBRECH + GURDULIC faces many challenges, from vehicle financing to hedging diesel prices against volatile commodity markets, and is firmly committed to sustainability. As its principal bank, Commerzbank provides KNETTENBRECH + GURDULIC with a comprehensive financing mix, expert advice, strategic support and green financing instruments.
Our motto is ‘Give everything. For a clean and safe future.’ This clearly illustrates our corporate principles: we are committed to sustainable corporate governance. We believe in delivering excellent service to our clients and in acting responsibly towards nature and its resources – a mindset we share with Commerzbank. With its expertise and ESG loans, Commerzbank has actively supported our sustainability strategy and enabled us to play our part in conserving resources and reducing carbon emissions in the German economy.
General Manager, KNETTENBRECH + GURDULIC Service GmbH & Co. KG
Growth is the engine of success, Trust supports rapid growth
Ferdinand Knettenbrech founded a transport company in Wiesbaden-Biebrich in 1951 and expanded into waste management in 1963. This business segment continued to grow and was eventually sold to an energy group in 1996. By then, it employed 360 people.
In 2001, Ferdinand Knettenbrech’s grandson, Steffen Gurdulic, took the bold step of re-entering the industry. With just two trucks, he founded KNETTENBRECH + GURDULIC Service GmbH & Co. KG. Today, he is a managing partner. The success story has continued from there: KNETTENBRECH + GURDULIC is now a leading waste management company throughout Germany.
Commerzbank immediately recognised the tremendous potential and assisted KNETTENBRECH + GURDULIC from day one. Flexible financing models that were tailored to fit the company’s needs allowed Commerzbank to secure KNETTENBRECH + GURDULIC’s liquidity. Swaps were used to hedge against price swings in diesel, a commodity essential for the company fleet, and this also helped to support growth effectively.
Commerzbank enlisted the support of Commerz Real Mobilienleasing GmbH to lay the groundwork for ongoing development and specialisation. Commerz Real’s expertise allowed Commerzbank to finance movable goods such as trucks, containers and shredding technology with differing maturities and at terms and conditions that fit the client’s profile.
This trust-based partnership has proven very valuable and has paved the way for the company’s sustainable expansion.
We provided KNETTENBRECH + GURDULIC with flexible financing models that have allowed the company to reach its sustainability goals while remaining successful in its business activities. As KNETTENBRECH + GURDULIC’s principal bank, we are committed to sustainable financing solutions. Our partnership is based on trust and ongoing strategic support. This approach has helped the company to strengthen its ecological commitment and to expand in a way that is both economically robust and environmentally friendly.
Relationship Manager for KNETTENBRECH + GURDULIC, Commerzbank
Financing for every growth stage, From current account overdrafts to sustainability-linked loans
Commerzbank has been at KNETTENBRECH + GURDULIC’s side to help finance its growth from its early days as an SME to its current status as a leading company with more than €400 million in revenue.
As the company grew, Commerzbank took its specific financial needs into account and recommended a wide range of financing solutions. These included short- and medium-term loans as well as innovative financing models based on sustainability criteria, which boosted the company’s financial stability and helped it work toward its sustainability goals. Among the sustainable financing instruments are loans with interest rates that are linked to specific ESG criteria1.
The extensive financial support and expertise provided by Commerzbank ensures that KNETTENBRECH + GURDULIC is well positioned to make the switch to a sustainable fleet and implement new technologies. The next step in the fleet’s green transformation has already been taken: in June 2024, KNETTENBRECH + GURDULIC deployed the only all-electric collection vehicle in Pullach, a municipality in the greater Munich region. It remains the only fully electric collection truck in use there to this day. So KNETTENBRECH + GURDULIC is taking a leading role in sustainability. The group also operates a hydrogen-powered collection vehicle at its Wiesbaden location.
Our client recognised the importance of sustainability and ESG early on and has benefited from our expertise, our experience and our green financing solutions in which interest payments are linked to sustainability criteria. KNETTENBRECH + GURDULIC’s success illustrates that there is a very clear business case for greater sustainability and the circular economy.It is no coincidence that more and more companies – whether family-owned or publicly listed – are investing in their ability to increase recycling rates, reduce plastic waste, cut carbon emissions and meet supply chain requirements more effectively. In this way, they are honing their competitive edge.
Head of Sustainable & Transition Finance Advisory, Commerzbank AG
Investing with subsidised loans, Infrared commercial waste sorting
One particular challenge involved financing an infrared sorting system for commercial waste. By investing in this state-of-the-art technology, KNETTENBRECH + GURDULIC took another step towards increasing recycling rates and reducing plastic waste.
Drawing on its expertise, Commerzbank combined various financing instruments – including subsidised loans – to make this important investment possible. This combined expertise in financing, subsidised loans and sustainability played a crucial role in the project’s success.
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With an ESG rating linked loan, the return is linked to ambitious ESG criteria or sustainability criteria/goals. ESG-Rating linked loans are one of Commerzbank's sustainable financing instruments under the ESG framework.