UK - Montagu exits Cory in £588m deal to ABN AMRO Infrastructure

Montagu Private Equity has sold waste management company Cory Environmental Holdings to a consortium led by ABN AMRO Infrastructure Capital for ТЃ588m. The sale through acquisition vehicle Viking Consortium Holdings Ltd enables Montagu to exit following under two years of ownership. Montagu acquired the business from Exel in 2005 in a ТЃ200m management buyout. Since then Cory has grown substantially - at the time of the acquisition, it operated 9 landfill sites. One new site in Kent has since been opened, with a further site in the South West due to become operational this year. Over the last two years Cory has expanded its available landfill capacity by 50%, grown revenues from ТЃ130m to over ТЃ180m.