Energy-from-waste business Wheelabrator Technologies announced toward the end of last year that an agreement had been signed for the sale of Wheelabrator UK to the European Diversified Infrastructure Fund III SCSp, managed by First Sentier Investors.
The transaction is expected to be completed toward the beginning of this year.
A developer, owner and operator of strategically located waste-to-energy facilities, with seven currently in operation and advanced development, Wheelabrator UK is an integral part of the UK’s environmental infrastructure, diverting waste from landfill or export to continental Europe to provide residents and businesses with local, sustainable disposal of non-recyclable solid waste while creating renewable energy.
Wheelabrator Technologies was acquired by Macquarie Infrastructure Partners IV (MIP) in February 2019. MIP operates within the Macquarie Infrastructure and Real Assets division of Macquarie Group.
During 2020, Wheelabrator UK reached commercial operations at Wheelabrator Kemsley, a combined heat and power facility that provides steam to the DS Smith paper mill located in Sittingbourne, Kent and reached commercial operations at two new waste-to-energy facilities in North Wales and West Yorkshire, Wheelabrator Parc Adfer and Multifuel Energy Limited Ferrybridge 2.
The business continues to progress the advanced development of three further waste-to-energy facilities, Multifuel Energy Limited Skelton Grange in Yorkshire, Wheelabrator Kelvin in West Bromwich and Wheelabrator Kemsley North in Sittingbourne.
Robert Boucher, president & CEO of Wheelabrator Technologies, said: “I am incredibly proud of the U.K. team and what we have achieved as One Team to grow the Wheelabrator U.K. business over the last 11 years. I look forward to the business continuing to execute on their strategy for continued development of critical waste infrastructure in the U.K. with their new shareholder and partner.
“The buildout of the largest, pure play waste-to-energy business in the U.K. is the result of many years of commitment, hard work, and strong partnerships with our customers and partners, and our ability to leverage our operational excellence from the U.S. and embed it into the U.K.”
Julia Watsford, Managing Director of Wheelabrator UK, added that the company remains “fully committed to providing essential waste disposal service to our customers and communities, while ensuring the safety of our people, contractors and communities remains our number one priority.” She continued: “We’re excited to work with our new partners at FSI to continue to deliver the critical infrastructure required to support the safe and reliable treatment of non-recyclable waste, both now and in the future.”
2020 was a busy time for mergers, acquisitions and market activity for waste to energy in the UK, and with the sale of WTI in Q1 2021, this year is starting in a similar vein. What does the rest of 2021 hold? Hear from finance industry leader David Harradine, Director, Project Finance, ABN AMRO Bank NV as he considers the investment appetite for energy from waste during morning 1 of the Energy from Waste conference.
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