FCC Servicios Medio Ambiente reaches an agreement to acquire Urbaser's affiliate in United Kingdom
- The estimated enterprise value of the transaction is £398 million.
- Urbaser's business in the region consists mainly of recycling, treatment, waste collection and street cleansing activities.
- The transaction is expected to be completed in the second quarter of 2024.
FCC Servicios Medio Ambiente has agreed to buy the business of Urbaser's affiliate in the United Kingdom. The estimated enterprise value of the transaction (including debt and equity) is £398 million (around €464 million). The deal is expected to be completed in the second quarter of 2024, subject to the fulfilment of certain conditions customary in this type of transactions.
FCC Servicios Medio Ambiente has been present in the British market since 1989 through its affiliate FCC Environment UK and is one of the top five waste management local operators. The acquisition of Urbaser's UK business will enable it to expand its product and service offering and enhance the value proposal for its customers.
Urbaser UK operates facilities of composting, material recovery, waste to energy, final disposal and household recycling centres. It also provides waste collection, recycling centre management and street cleansing.
FCC Environment UK Chief Executive Officer Steve Longdon said “as one of the UK’s leading resource and waste management companies, this is a very positive move for our business here in the UK strengthening our core services yet further. We are looking forward to welcoming the Urbaser team and to continuing to deliver exceptional services both to our existing and to our new clients”.
Santander Corporate & Investment Bank acts as financial advisor to FCC Servicios Medio Ambiente in the transaction and Linklaters is acting as legal advisor.
About FCC Servicios Medio Ambiente
FCC Servicios Medio Ambiente is the holding of companies that for more than 120 years have been the backbone of the FCC Group's environmental activities. It serves 66 million people in 5,200 municipalities around the world and manages more than 24.6 million tonnes of waste as a resource each year.