3i und DWS erwerben Anteile an Attero von Waterland
3i Infrastructure plc announces that it will invest €201m to acquire a 50% stake in Attero, one of the largest waste treatment and disposal companies in the Netherlands. 3i Infrastructure will invest alongside DWS’s infrastructure investment business (formerly Deutsche Asset Management) to acquire Attero from Waterland, a Dutch private equity fund. 3i approached Waterland in 2017 and the transaction was conducted on a bilateral basis. Completion is subject to certain third-party approvals.
Attero owns two energy from waste (“EfW”) plants, two sorting and pre-treatment facilities, six anaerobic digestion facilities, seven composting facilities and ten landfills. The EfW business accounts for c. 80% of revenues of which a quarter relates to selling electricity and heat. Attero sources its waste from a diverse mix of domestic municipalities, commercial and industrial customers, as well as a number of UK and Irish exporters. It has a leading market share and EfW processing capacity of c. 1.8 million tons.
Attero has good revenue visibility due to its long-term contracts with customers. It is well positioned within the Dutch market with two of the largest and most efficient EfW plants in the country, strategically positioned with good port, road and rail access for both import and domestic waste supply.
Richard Laing, Chairman, 3i Infrastructure plc, commented:
“We are delighted to be announcing this new investment in Attero, the leading Dutch player in the waste treatment market. We believe the investment will deliver strong cash yields for our shareholders, and complements our existing portfolio well through providing further geographic and sector diversity.”
Phil White, Managing Partner and Head of Infrastructure, 3i Investments plc, Investment Adviser to the Company, added:
“Attero is strongly positioned to benefit from favourable underlying trends in the European waste market, driven by EU directives targeting more recycling, with EfW playing an important role in treating combustible waste which cannot be, or is not, recycled.”
Hamish Mackenzie, Head of Infrastructure at DWS said, “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 is well placed to deliver the objectives of the EC’s Circular Economy package. 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.”