Infrastructure investor Equitix announced the acquisition of a substantial minority stake in UK-based energy-from-waste operator Viridor Group from KKR, building on its current 35% stake in the company
Viridor operates the largest Energy from Waste (EfW) fleet in the UK, with 12 EfW facilities processing more than 3.5 million tonnes of waste and recycling a year, and producing more than 2,100 GWh of energy annually, enough to power nearly 800,000 homes. The company has set a goal to become the UK’s first carbon positive waste management company by 2045.
Viridor was acquired by KKR in 2020 in a deal valuing the company at an enterprise value of £4.2 billion. Equitix announced its first investment in the company in 2021, acquiring a 20% stake, and increased its position to 35% with an additional investment in 2023. The new investment includes a path to acquire up to 50% in the Energy from Waste company.
Equitix CIO Achal Bhuwania said:
“This transaction marks an important milestone, setting the path for Equitix to achieve a 50% stake in Viridor Group. It reflects our confidence in Viridor as a best-in-class waste-to-energy platform and a vital part of the UK’s critical infrastructure.”
KKR Co-Head of KKR EMEA and Co-Head of European Infrastructure Tara Davies added:
“Viridor has transformed into a high-performing, standalone British leader in waste treatment since its carve-out in 2020, delivering essential services to communities across the UK. The business is now delivering consistently strong operational and financial performance, alongside significantly improved health and safety outcomes.
