MONTPELLIER, France--(BUSINESS WIRE)--Platinum Equity announced on June 6th, 2021 that it has entered into a definitive agreement with China Tianying (CNTY) to acquire the entire business of Urbaser Group.
Platinum Equity is a leading U.S. investment fund with more than $25 billion of assets under management with a portfolio of approximately 40 operating companies worldwide.
Tom Gores, founder and CEO of Platinum Equity, said “Urbaser is a complex company, that is both vital service provider and important caretaker of the environment. It is a leader in a sector that requires both professional excellence and ESG best practices. It is a tailor-made for Platinum’s hands-on approach, and we’re excited about the opportunity”.
Louis Samson, Partner at Platinum Equity and Head of the Group's European operations, confirmed that Urbaser will be a strong addition to Platinum’s growing portfolio of the operating companies headquartered in Europe, fully in accordance with the Platinum’s strategy to continue investing in this region.
Igor Chacartegui, Managing Director of Platinum Equity, emphasized the fund's commitment to accelerate Urbaser's growth, particularly through acquisitions in key geographic areas.
Platinum announced that José María López Piñol will continue to lead the Urbaser Group as CEO. "Platinum's global operational capabilities, financial resources and commitment to supporting our business make it the ideal partner," he said.
Claude Saint-Joly, Chairman and CEO of Urbaser Environnement (Urbaser France), said he was extremely pleased with this new momentum in the development of Urbaser Group. According to the Chairman of Urbaser France, “in view of the Urbaser's very dynamic position in France, of the situation of the French environmental services market, which is currently undergoing a complete overhaul with real opportunities for external growth, and of the discussions held with Platinum Equity, there is no doubt that the Urbaser Group will continue to pay particular attention to the French market, making it one of the priority geographical sectors in its international development”.
About Urbaser
Urbaser is a global environmental management company focused on sustainability and innovation, serving over 70 million people in 25 countries with 50,000 employees. It is currently responsible for cleaning over 8 million kilometers of streets in cities around the world and maintaining 25 million square meters of green space. It operates 133 waste treatment facilities for a total of 20 million tons treated, generates 1,500 GWh of electrical energy from waste and avoided the emission of almost 2 million tons of CO2 equivalent last year. Founded in 1990 and headquartered in Madrid, Spain, Urbaser is active in 3 business lines - urban services (waste collection, street cleaning and water management), municipal waste treatment and industrial waste treatment - concentrated mainly in Spain, Chile, Argentina and France. Urbaser has made substantial investments in R&D with a focus on circular economy solutions such as bioplastics, bioproducts, compost, waste oil from ship recovery, and advances in innovative waste collection practices. The company's commitment to innovation is a competitive advantage and is fundamental to providing solutions for the sustainable development of urban services, integrated water management and municipal and industrial waste treatment.
About Urbaser Environnement
Urbaser Environnement, a subsidiary of the Urbaser group, has become one of the key players in the French market for environmental services for local authorities. Our expertise of more than 30 years is to be found in the fields of waste collection and cleaning, but also in waste recovery through the design, construction and operation of household waste recovery units.
In order to support local authorities in the evolution of our activities and their environmental, technical and regulatory components, Urbaser Environnement relies on its know-how in treatment engineering and in the field of urban waste management to design integrated and scalable solutions at the cutting edge of technology. The many French local authorities that have placed their trust in our activities, such as the Metropolises of Aix-Marseille Provence, Montpellier, Nantes, the Agglomerations of La Rochelle (Charente-Maritime), Marmande (Lot-et-Garonne), Charleville-Mézières (Ardennes), Greater Poitiers, the cities of Paris, the treatment syndicates of Varennes-Jarcy (Essonne), the Paris conurbation, Valor Béarn, Trifyl (Tarn), Chalosse (Landes), Calaisis (Pas-de-Calais), Trivalis (Vendée), Bil Ta Garbi (Pyrénées-Atlantiques), etc. , can testify to the quality and reliability of our services and to the daily involvement of our teams in working closely with our clients.
Urbaser Environnement achieved a consolidated turnover of 210 million euros in 2020 and employs 1,250 staff on the French market.
