Waste management major FCC has struck a deal to buy Urbaser’s business operations in the United Kingdom. It estimates the value of the transaction, including debt and equity, at EUR 464 million.
Urbaser UK operates facilities for waste to energy, composting, material recovery and household recycling centres. It also provides waste collection, recycling centre management and street cleansing. The deal is expected to be completed in the second quarter of 2024, subject to the fulfilment of certain conditions.
It was announced by the Spanish parent company FCC Servicios Medio Ambiente, which has been present in the British market since 1989 through FCC Environment UK. It is one of the top five waste management local operators. ‘The acquisition of Urbaser’s UK business will enable it to expand its product and service offering and enhance the value proposal for its customers,’ the group says.
FCC Environment UK ceo Steve Longdon adds: ‘This is a very positive move for our business here in the UK strengthening our core services yet further. We are looking forward to welcoming the Urbaser team and to continuing to deliver exceptional services both to our existing and to our new clients’.
Meanwhile the UK division has updated and relaunched its ‘Mapping the Politics of Waste’ report which criticises the UK Government. ‘Significant delays to consultation responses – almost three years for consistent collections – have been exacerbated by unclear or absent guidance. Many measures aimed at making the UK a global leader in environmental reform have suffered from lethargic Government action and what would appear to be a subsequent lack of desire to get it done before the next election.’
Longdon comments: ‘Decarbonising is a matter of choice, adapting to climate change is a necessity. Regardless of whoever is in government after the election, we hope we will see a renewed vigour on environmental policy and a drive towards a circular economy.’