Cube Infrastructure Managers (Cube), a European mid-market infrastructure investor, has agreed to acquire Urbaser Nordic (Nord), a provider of municipal waste collection services to local communities in all Nordic countries, through its fund Cube Infrastructure Fund III.
Completion of the transaction remains subject to customary conditions including clearance by antitrust authorities.
Nord operates across Denmark, Norway, Sweden and Finland. The company serves circa 100 municipalities and more than five million inhabitants with circa 1,800 FTEs and a fleet of around 1,100 trucks, some 45% of which are powered by green technologies.
Cube plans to support the existing management team with both capital and sector expertise to accelerate the company’s future growth in the Nordic countries in its core municipal waste collection segment as well as in industrial and commercial collection and in the Danish waste treatment sector.