Ancala Partners (Ancala), an investor in mid-market infrastructure in Europe, and Fiera Infrastructure Inc. (Fiera Infrastructure), a Toronto-based investment firm focused on the infrastructure asset class, has completed the acquisition of Augean plc (Augean or the Company), for a total consideration of approximately GBP390 million.
Augean is a highly regarded leader in the specialised waste management sector, with strategically located facilities and broad customer relationships. The business also has exposure to attractive end markets and further growth opportunities, such as the growing need for responsible waste management. It plays a crucial role in the transition towards a more sustainable and circular economy by mitigating the environmental and social impacts of waste. They plan to create value by providing the company with the necessary financial, technical and strategic support to thrive as a private business.
Both investors look forward to working with the Augean management team to support the business through its next stage of growth, thrive as a private business and continue to deliver on its critical mission.
Karen Dolenec, Partner at Ancala Partners, comments: “We are very excited about this investment which we identified as a leader in an attractive and growing segment with strong tail winds. Ancala has been impressed by the high quality of the team and operations and is excited to support the Company in expanding its role in this critical part of an effective waste management ecosystem.”
Alina Osorio, President of Fiera Infrastructure, remarks: “Augean is a leading provider of specialised waste management services in the UK, offering essential and responsible treatment and disposal solutions to a broad customer base. Fiera Infrastructure is excited to work alongside the management team at Augean to support the Company in its next stage of growth.”
Jim Meredith, Chairman of Augean, says: “The completion of this transaction marks an exciting new chapter for Augean and would not have been possible without the hard work and commitment of all my colleagues. We are already a sector leader and we look forward to benefitting from the resources, experience and expertise of Ancala and Fiera to continue transforming the business to improve on our market leadership, through delivering great customer service whilst providing real opportunity for employees and stakeholders.”