EQT and Blackstone infrastructure funds have agreed to acquire Spain-based waste management and environmental services firm Urbaser from Platinum Equity.
Upon completion of the transaction, EQT Infrastructure V and Blackstone will each hold a 50% stake in Urbaser and jointly manage the firm.
Established more than 30 years ago, Urbaser is a global provider of integrated environmental services and waste management.
Guillermo García-Barrero, partner at EQT Infrastructure, said: “Urbaser has a long track record of partnering with municipalities and industrial clients to provide them with advanced waste treatment and collection infrastructure services.
“Together with Blackstone, we look forward to supporting Urbaser’s management team and employees to continue to invest in the circular economy and create lasting value for society.”
Adam Kuhnley, co-head of European Investments, Blackstone Infrastructure, added: “As Spain’s leading waste management and environmental services platform, Urbaser is renowned for its technical expertise, decades-long experience and long‑standing customer relationships.
“We are excited to partner with management and EQT to support the company’s next phase of growth as it capitalises on strong demand for greater resource efficiency.”
Fernando Abril-Martorell, CEO of Urbaser, said: “This transaction is the reflection of the value creation potential of Urbaser and the result of an excellent collaboration with Platinum Equity over these years.
“We are eager to continue providing leading solutions to our customers in this new phase, accelerating our investment and growth path, working hand by hand with EQT and Blackstone as our strategy partners.”
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