Macquarie Asset Management and British Columbia Investment Management Corporation (BCI) have announced the completion of their acquisition of the European waste-to-product company Renewi, in a deal valuing the company at approximately £707 million ($957 million USD).
Based in the UK, Renewi specialises in extracting value from waste and used materials, diverting waste from incineration or landfill. The company operates approximately 150 facilities across the Netherlands, Belgium, France, and Portugal. Renewi recycles over 10 million tonnes of waste annually, processing materials such as paper, metals, plastics, glass, wood, and construction debris into reusable products.
The investors stated that the acquisition will bolster Renewi’s strategic initiatives, including the “One Renewi” programme, which aims to enhance the company’s logistics and processing capabilities. This will enable Renewi to realise its growth ambitions and further increase its recycling yield (source: Macquarie Asset Management).
“We are delighted to have finalised the acquisition of Renewi, a market leader in the waste sector,” said Gabriele Duesberg, Head of Diversified Infrastructure – EMEA at Macquarie Asset Management. “As countries across Europe transition to waste-free economies, Renewi is well-positioned to capitalise on this demand with its robust growth ambitions and innovative waste solutions.”
Lincoln Webb, Executive Vice President & Global Head, Infrastructure & Renewable Resources at BCI, commented, “This acquisition presents an exciting opportunity for us to collaborate with Renewi, an established player in the waste sector. We anticipate supporting the business with its transformation initiatives and long-term growth plans, thus contributing to a more circular economy in Europe.”
“We are excited to partner with the consortium as we focus on advancing circularity and becoming the leading waste-to-product company for Europe’s most advanced circular economies,” stated Annemieke den Otter, Chief Financial Officer and Board Member at Renewi. “We have made significant progress on this goal over recent years, and as I look ahead, I am confident that with this new collaboration, and through the passion and commitment of our teams, we will create a more sustainable society for all.”
