Platinum Equity’s Transformation of Urbaser: An Overview
Key Statements:
- Louis Samson, Co-President of Platinum Equity, noted the dramatic transformation of Urbaser since its acquisition nearly five years ago.
- Igor Chacartegui, Managing Director, highlighted the ambitious changes, including significant investments, acquisitions, and a strategic focus shift towards growth-oriented sectors.
Transformation Highlights:
- Investment: €1.6 billion over five years in capital expenditures and mergers & acquisitions (M&A).
- Acquisitions: Completed 20 add-on acquisitions and divested 13 non-core divisions.
- Financial Growth: Revenue increased by over 60% and EBITDA by 70% since 2020.
- Market Expansion: Growth in municipal and industrial waste treatment segments.
- Backlog Growth: €3.0 billion increase in revenue backlog, totaling over €15 billion.
- Leadership: New executive leadership team led by CEO Fernando Abril-Martorell.
- ESG Focus: Reinforced ESG areas as a core strategic pillar.
CEO’s Perspective: Fernando Abril-Martorell expressed gratitude for the vision provided by Platinum Equity and emphasized the exceptional work of the Urbaser team in executing this transformation.
Refinancing: The sale of Urbaser was preceded by a unique refinancing of its capital structure, demonstrating Platinum Equity’s innovative approach to finance.
Future Commitment: Samson affirmed their continued investment strategy in Europe, showcasing ongoing opportunities for value creation.
Recent Developments: Platinum Equity also announced the agreement to sell De Wave, a company in cruise ship interiors and outfitting services.
Investment Firm Overview: Platinum Equity, founded by Tom Gores in 1995, manages approximately $50 billion in assets and specializes in M&A and operations across various industries.
Urbaser Profile: Urbaser is a leading environmental solutions provider, serving over 60 million people worldwide, with a focus on sustainability through circularity.
