iCON Infrastructure Partners IV, has completed the acquisition of a majority interest in Eco Eridania from Xenon Private Equity V and CEO Andrea Giustini’s family holding company Roccaforte, which will continue to own a minority interest in the company.
Eco Eridania is an Italian integrated waste collection, transportation, treatment and disposal business and is the clear market leader in the specialist sanitary waste sector in Italy. The Company provides sanitary waste related services to hospitals and other healthcare operators with a secondary focus on serving industrial customers.
With headquarters near Genoa and operations focused on Northern and Central Italy, the Company serves over 20,000 clients with an extensive asset base comprising 6 incinerators and 2 sterilisation plants with over 100,000 tonnes per annum of authorised disposal capacity and 14 treatment and storage facilities with capacity to handle over 220,000 tonnes of waste per annum. The Company recorded pro-forma consolidated revenues of EUR145 million in 2017.
Eco Eridania is the first investment in iCON IV and is another example of iCON’s successful proprietary origination strategy in competitive market conditions.
Ivana Semeraro, Partner of iCON Infrastructure, says: “Eco Eridania’s strong management, market position and high-quality asset base attracted us to invest in Eco Eridania. We look forward to working with Mr Giustini and the rest of the management team to grow the business in the coming years.”
Franco Prestigiacomo, CEO of Xenon Private Equity, says: “Eco Eridania has been a successful investment and a fantastic growth story for us and we are confident that the group will execute its growth plans under the leadership of Mr Andrea Giustini and with the support of new majority shareholder iCON Infrastructure.”
Andrea Giustini, CEO of Eco Eridania, says: “We are delighted to have iCON Infrastructure on board to help us deliver our future growth plans for Eco Eridania. We plan to work together to grow the business and further strengthen our position in the waste sector in Italy and potentially abroad.”
