Macquarie fund acquires Beauparc

Macquarie Asset Management has agreed to acquire Beauparc Utilities for an undisclosed fee, the infrastructure asset manager announced today (1 June).

Founded in Dublin in 1990, Beauparc is a waste management company with a growing presence in the United Kingdom and the Netherlands.

Beauparc
Macquarie Asset Management has managed assets for institutional and retail investors in Australia and the United States since 1980 (picture: Shutterstock)

The company processes materials, including those from its own residential and commercial collection businesses, and supplies waste to cement kilns and energy from waste (EfW) facilities.

Leigh Harrison, head of Macquarie Infrastructure and Real Assets, said: “We see a significant opportunity to build on Beauparc’s strong reputation in the sector, investing to support the growth of the circular economy through projects that divert waste from landfill.

“We look forward to partnering with its team to support Beauparc’s long-term growth plans, maintaining its strong focus on customers, health and safety, and sustainability.”

‘An honour’

Macquarie will acquire Beauparc from the business’s founder Eamon Waters and American private equity company Blackstone.

“It has been an honour to see Beauparc grow from a two-person operation in Ireland to a business which employs more than 2,300 people”

Eamon Waters, Beauparc

Mr Waters said: “Over 30 years, it has been an honour to see Beauparc grow from a two-person operation in Ireland to a business which employs more than 2,300 people across three markets.

“Our team has worked tirelessly to build the trust of our clients and the communities we serve. We are pleased to have found a new owner to shape the next chapter of Beauparc’s growth story.”

The terms of the transaction have not been disclosed. Completion of the transaction is subject to receipt of customary regulatory approvals, Macquarie says.

Beauparc

Blackstone acquired a 37.6% stake in Beauparc two years ago for an undisclosed sum. Mr Waters owned almost all the rest of the company.

Beauparc
New York-based Blackstone is an investment firm (picture: Shutterstock)

In today’s announcement Macquarie said Beauparc-owned businesses served more than 340,000 residential, commercial, electricity and gas customers across a portfolio of 40 waste facilities, processing more than three million tonnes of waste each year.

Beauparc is seeking to increase the amount of waste it recycles through “significant” investments in plastics recycling, soil restoration and anaerobic digestion, Macquarie says.

Amer Khatoun, managing director of Blackstone, said: “Our minority investment in Beauparc reflects our continued strategy of supporting entrepreneurs to grow their businesses.

“It has been a pleasure to partner with Eamon and the management team, and we are immensely proud of the success the company has achieved in recent years.

“Beauparc has established itself as a pioneer in the circular economy, and we wish the management team every success in its future partnership with Macquarie.”

UK

Beauparc entered the UK market in 2016 with the acquisition of the former New Earth Solutions business (see letsrecycle.com story) and subsequently acquired the Widnes waste management company WSR Recycling Limited (see letsrecycle.com story), which operates in the Liverpool region.

Beauparc
Beauparc launched the Mountain recycling brand in March 2021

The company continued its expansion into the UK with the acquisition of Leeds-based waste management firm Associated Waste Management Ltd in 2018 (see letsrecycle.com story), Lincolnshire-based waste business Mid UK Recycling in 2019 (see letsrecycle.com story), and Leeds-based skip hire firm LSS Waste Management in 2020 (see letsrecycle.com story).

Trade waste brand Mountain Recycling, launched in March by Mid UK, became the latest business to join the UK group of Beauparc companies (see letsrecycle.com story).

Macquarie

Macquarie Asset Management is part of the Macquarie Group, an Australian multinational independent investment bank and financial services company. It has invested in and managed assets in the waste sector for more than 15 years.

As of 31 December 2020, Macquarie had €347 billion of assets under management. It employs more than 1,900 staff operating across 20 markets in Australia, the Americas, Europe and Asia.

Today, it says its funds manage investments in waste companies providing municipal solid, construction and demolition waste collection, transfer, treatment, recycling and disposal. It also operates in EfW.

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