Macquarie Asset Management is to acquire Dublin-based Beauparc Utilities, the parent company of the Irish waste firms Panda and Greenstar and numerous other subsidiaries active in waste management and environmental services. According to a joint statement issued on Tuesday, the shares owned by Beauparc's founder Eamon Waters and Blackstone Tactical Opportunities Fund are to be sold to Macquarie's European Infrastructure Fund 6.
The terms of the transaction, which is still subject to regulatory approval, were not disclosed. According to the "Irish Times", industry insiders had put the value of the deal at as much as €1bn. The Irish daily had reported early this year that Blackstone was looking to sell its shares. The company invested an undisclosed sum in Beauparc in 2019 and reportedly holds a 37.6 per cent stake in the Irish company. At that time, all of Beauparc's remaining shares were owned by Sretaw Limited, a company controlled by Mr Waters.
Beauparc describes itself as "a recycling and processing led waste-to-resource business with a market leading position across Ireland, and a significant growing presence in the United Kingdom and the Netherlands". Founded in 1990, the company now has over 2,300 employees across these three markets. It reports processing more than 3 million tonnes of waste per year at its 40 facilities.