The former environmental arm of Irish services company DCC has been sold to a US private equity firm.
Enva, a waste management group, was born out of the £200 million (€226 million) buyout of the environment division of DCC by UK-based group Exponent Private Equity in June 2017. The business has since consolidated the old DCC brands under the Enva banner.
Enva is led by chief executive Tom Walsh who was previously managing director of DCC’s environment division after previous stints with Bord na Móna and Unicare. Its chairman is former senior Ardagh executive Niall Wall.
I Squared Capital, a US-based “infrastructure investment manager”, announced on Friday it had signed an agreement to acquire Enva, which has operations in Britain and Ireland.
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I Squared said the acquisition “supports the firm’s environmental infrastructure strategy, which aims to build a diverse portfolio of waste processing and recycling, industrial waste-to-energy, and wastewater treatment assets in the Americas, Europe, and Asia-Pacific”.
“That portfolio also includes US-based VLS Environmental Solutions and Australia-based Soilco, as well as an industrial-waste-to-energy plant in Taiwan and multiple wastewater treatment facilities in China,” it added.
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Enva conducts waste collection, processing, and resource recovery at 34 facilities across Britain and Ireland, serving more than 20,000 industrial, energy, automotive, and other customers.
The company focuses on waste streams with complex technical and regulatory characteristics, requiring specialised expertise and licences.
