Wheelabrator Technologies Inc has announced that it has entered into an agreement to sell Wheelabrator UK to the European Diversified Infrastructure Fund III SCSp, an infrastructure fund managed by First Sentier Investors. The transaction is expected to complete in early 2021.
Wheelabrator UK is the largest pure play waste-to-energy business in the UK and is a developer, owner and operator of strategically located waste-to-energy facilities, with seven waste-to-energy facilities in operation and advanced development.
Wheelabrator UK is an integral part of the UK’s environmental infrastructure, diverting waste from landfills 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, the world’s largest infrastructure manager.
In the past 12 months, 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.
I am incredibly proud of the U.K. team and what we have achieved as One Team to grow the Wheelabrator UK business over the last 11 years.
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 UK 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 UK 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 U.K., said, “Today’s announcement marks another major milestone in the growth of our UK business. We remain fully committed to providing our essential waste disposal service to our customers and communities, while ensuring the safety of our people, contractors and communities remains our number one priority.
“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. I’d like to thank all of our team members for their continued hard work and commitment to Make A Difference to make this business and this transaction a success.”