Platinum Equity Completes $6.6 Billion Sale of Urbaser to Blackstone and EQT
Platinum Equity has completed its sale of Urbaser, a global environmental infrastructure platform based in Madrid, Spain, to private equity firms Blackstone and EQT for approximately $6.6 billion (€5.6 billion). The transaction marks the culmination of a multi-year transformation process that included significant investments, strategic acquisitions, divestitures, and leadership changes. Urbaser serves over 60 million people globally through more than 38,000 employees across three core segments: Urban Services, Municipal Waste Treatment, and Industrial Waste Treatment. Platinum Equity acquired the company in October 2021 for $4.2 billion (€3.5 billion) from China Tianying Inc., and has retained its waste management business in Argentina. The transformation of Urbaser included over €1.6 billion invested through capital expenditures and M&A, with revenue growing by more than 60% since 2020 and EBITDA increasing by 70%. The company also expanded its backlog to over €15 billion and reinforced environmental, social, and governance (ESG) initiatives as a strategic pillar.
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Topics: acquisition corporate transformation environmental infrastructure private equity