Platinum Equity acquires Urbaser, a global environmental services company from Tianying China for $ 4.2 billion
Acquisition of an integrated waste management company based in Madrid strengthens the dynamics of the global buy-back company in Europe
Posted: October 22, 2021 at 9:00 a.m. MDT|Update: 15 minutes ago
LOS ANGELES and MADRID, 22 October 2021 / PRNewswire / – Platinum Equity announced today that it has completed the acquisition of Urbaser, one of the world’s largest providers of environmental services, from China Tianying Inc. for an enterprise value of approximately $ 4.2 billion (3.5 billion euros).
Urbaser is one of the world’s leading environmental management companies focused on sustainability and innovation, serving more than 70 million people in 25 countries through a network of more than 50,000 employees. Currently, he is responsible for cleaning more than 8 million kilometers of streets in different cities around the world and maintaining 25 million square meters of green space. It operates 133 waste treatment facilities with a total of 20 million tonnes processed; produces 1,500 GWh of electrical energy from waste and avoided the emission of nearly 2 million tonnes of CO2 equivalent last year.
“Urbaser is a global leader in environmental management that develops innovative solutions that improve the quality of life for people in the communities it serves,” said Louis Samson, Platinum Equity Partner, who oversees the company’s European operations. “The company is also another important addition to Platinum’s growing portfolio of operating companies headquartered in Europe and a direct reflection of our commitment to invest in the region. We have had great success providing divestment solutions to sellers in Europe and create value in a wide range of industries. Urbaser is another exciting step forward. “
Other current investments in European Platinum Equity include: wine producer Fantini Group Vini (Ortona, Italy); manufacturer of private label sweet biscuits Biscuit International (Paris); global maritime entrepreneur De Wave Group (Genoa, Italy); supplier of seafood products Iberconsa (Vigo, Spain); and the European holiday rental group Awaze (London).
Founded in 1990 and based in Madrid, Spain, Urbaser’s main activity comprises three segments – Urban services (waste collection, street and beach cleaning, green space management and water management), Municipal waste treatment and Industrial waste treatment – mainly concentrated in Spain, Chile, Argentina, France, United Kingdom and the Nordic region. The company generated approximately $ 2.8 billion (2.3 billion euros) in sales for the 2020 financial year.
“Urbaser is an exceptional company with strong customer relationships, great technical know-how, exceptional contracts and assets, and an ESG profile aligned with the growing demand for sustainable solutions around the world,” said the CEO of Platinum Equity. Igor Chacartegui. “The company is a world leader in many value-added waste treatment technologies, such as energy recovery from waste, anaerobic digestion, composting and reclamation facilities. We are excited for the opportunity to continue to invest in these vital solutions and expand their impact.
In addition to its core services, Urbaser has made substantial investments in R&D with a focus on circular economy solutions such as bioplastics, bioproducts, compost, waste oil recovery from ships and advances in innovative waste collection practices. The company’s commitment to innovation is a competitive and fundamental advantage in providing sustainable solutions for the development of urban services, integrated water management and the treatment of municipal and industrial waste. (More information is available in the company’s 2020 sustainability report.)
José María López Piñol continues to lead Urbaser as CEO.
“We believe Platinum is the ideal partner to accelerate our growth and support our efforts to create new sustainability solutions that can help our customers address the complex environmental challenges they face,” said Mr. López Piñol. “Their financial and operational resources will be of tremendous benefit in our efforts to achieve Urbaser’s long-term strategic goals.”
Citi and Santander are acting as investment advisers to Platinum Equity in connection with the acquisition of Urbaser. Latham and Watkins is legal counsel for the firm.
Additional information on the Urbaser acquisition can be found here: General manager Igor Chacartegui talks about the importance of trust, relationships and ESG in the latest European Platinum buyout.
About platinum stocks
Founded in 1995 by Tom Gorès, Platinum Equity is a global investment firm with more than $ 25 billion of assets under management and a portfolio of approximately 50 operating companies that serve clients around the world. The company is currently investing with Platinum Equity Capital Partners V, a 10 billion dollars global buyout fund and Platinum Equity Small Cap Fund, a $ 1.5 billion buyout fund focused on investment opportunities in the lower middle market. Platinum Equity specializes in mergers, acquisitions and transactions – a branding strategy she calls M&A & O® – acquire and operate companies in a wide range of business markets including manufacturing, distribution, transportation and logistics, equipment rental, metals related services, media and entertainment, technology, telecommunications and other industries. Over the past 25 years, Platinum Equity has made over 300 acquisitions.
Dan Whelan, Platinum Action
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