Two private equity groups – United Kingdom-based 3i Infrastructure and Germany-based DWS (formerly Deutsche Asset Management) -- have acquired Attero, a Netherlands-based waste treatment, recycling and disposal company, from Waterland Private Equity Investments.
Under Waterland’s ownership, Attero shifted part of its business focus to energy production and plastic recycling, including investing in a plastic-film-scrap-to-pellets production line.
Attero owns two energy-from-waste (EfW) plants that account for about 80 percent of the company’s revenue; two sorting and pre-treatment facilities; six anaerobic digestion facilities; seven composting facilities; and 10 landfills. Attero sources its scrap materials from Dutch municipalities, commercial and industrial customers and U.K. and Irish exporters.
“We are delighted to be announcing this new investment in Attero, the leading Dutch player in the waste treatment market,” states Richard Laing, chairman of 3i Infrastructure plc. “We believe the investment will deliver strong cash yields for our shareholders and complements our existing portfolio well [by] providing further geographic and sector diversity.”
Phil White, managing partner and head of infrastructure for 3i Investments, comments, “Attero is strongly positioned to benefit from favorable underlying trends in the European waste market, driven by EU directives targeting more recycling, with EfW playing an important role in treating combustible waste that cannot be, or is not, recycled.”
Hamish Mackenzie, head of infrastructure at DWS, says, “We are excited to be making this investment in Attero. Attero has a unique position in the European waste value chain, offering the full range of recycling, treatment and disposal solutions, and it is well placed to deliver the objectives of the EC’s Circular Economy package.
Adds Mackenzie, “We look forward to working closely with Attero management to further invest in the growth opportunities this offers. We are delighted to be making our first investment in the waste sector and our first in the Netherlands.”
Both parties will own a 50 percent stake in the company.