Platinum Equity buys Urbaser for €3.5bn

Upon closing, José María López Piñol will continue to lead Urbaser as CEO.

Platinum intends to support the company in accelerating its expansion both organically and through targeted M&A investments in key geographies, while maintaining a healthy balance sheet and continuing to invest in sustainability.

Founded in 1995, Platinum is a global investment firm headquartered in the US, with more than $25bn in assets under management.

The firm is currently investing from Platinum Equity Capital Partners V, a $10bn global buyout fund, and Platinum Equity Small Cap Fund, a $1.5bn buyout fund focused on investment opportunities in the lower-mid-market.

Platinum acquires companies in a broad range of sectors, including manufacturing, distribution, transportation, logistics, equipment rental, metals services, media, entertainment, technology and telecommunications. Over the past 25 years the GP has completed more than 300 acquisitions.

Platinum has been active in Europe with several investments, including wine producer Fantini; French sweet biscuits manufacturer Biscuit International; Italian global marine contractor De Wave Group; Spanish seafood producer Iberconsa; and UK-based vacation rentals group Awaze.

Company
Founded in 1990 and headquartered in Madrid, Urbaser specialises in waste collection, street cleaning, water management, municipal waste treatment, and industrial waste treatment across Spain, Chile, Argentina, France and the Nordic region.

Employing 50,000 staff, the company generated revenues of around €2.3bn in 2020.

People
Platinum Equity – Tom Gores (founder, CEO); Louis Samson (partner); Igor Chacartegui (managing director).
China Tianying – Fengwei Guo (chief financial officer).
Urbaser – López Piñol (CEO).

Advisers
Equity – Citi (corporate finance); Santander (corporate finance); Latham & Watkins (legal).

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