THE NETHERLANDS - KKR and CVC close Rotterdam waste management deal

CEO Den Ouden will remain as CEO and the group will continue to be based in Rotterdam. Other investors in the consortium included Oranje-Nassau Groep B.V. (ONG). AVR is the largest waste management company in the Netherlands with an annual total turnover of more than EUR 500m, over 4 million tons of processed waste and approximately 2,100 employees. AVR also holds leading positions in domestic collection, recycling and separation of waste.

Den Ouden, chief executive of AVR, said: 'We are delighted to have KKR and CVC as our new partners and are looking forward to working together to develop and expand AVR’s business.'

Hugo van Berckel from CVC said: 'AVR is a successful company with clear potential to develop its leading position within the industry. CVC has the intention to expand AVR, both organically and by means of acquisitions and will actively support it in its endeavours.'

KKR partner Reinhard Gorenflos commented: 'AVR has a very talented management group in place and with them, KKR is committed to building the company’s future as a leading European waste service group. We intend to develop AVR’s waste-to-energy, environmental services, and industrial services business units and grow the business in Benelux as well as neighbouring countries.'

Wim van Sluis, alderman of the Municipality of Rotterdam stated: 'This is a profitable deal for all the partners involved. The buyer now owns a market leader and AVR now has the opportunity to have an international standing. Furthermore, the city of Rotterdam will benefit from the revenues of the sale, as well as from the favourable tariffs for the processing of domestic waste for the coming 25 years'.

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• Buyouts
• Benelux
• Industrials