H2 sells Ballast Phoenix to Waterland

The GP said it had generated "strong" returns on the exit, which comes just one year after it bought Ballast Phoenix, paying €38m to carve the company out of Dutch construction and engineering company Ballast Nedam.

The GP claims the company delivered its planned growth well ahead of schedule, having secured new long-term contracts. Ballast Phoenix has made plans to expand the number of its recycling and IBA-processing plants from seven to 12.

Company
Founded in 1998 and headquartered in Bourne, Lincolnshire, Ballast Phoenix specialises in recycling incinerator bottom ash for the production of IBA aggregates. IBA is the by-product of waste burnt in an incinerator, usually produced by energy-from-waste plants.

The company processes and recycles IBA into an aggregate for use in the production of concrete, cement and bulk fill.

Ballast Phoenix employs 90 staff on a full-time basis.

People
Jos Van Beurden is the director of Ballast Phoenix.

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• Topics
• Exits
• Buyouts
• UK / Ireland
• Industrials
• United Kingdom
• H2 Equity Partners
• Waterland Private Equity
• Secondary buyout