Platinum Equity Acquires Global Environmental Services Business Urbaser 
From China Tianying For $4.2 Billion 
   Acquisition of Madrid-Based Integrated Waste Management Company Adds to 
Global Buyout Firm's Momentum in Europe 
   PR Newswire 
   LOS ANGELES and MADRID, Oct. 22, 2021 
   LOS ANGELES and MADRID, Oct. 22, 2021 /PRNewswire/ -- Platinum Equity 
today announced that it has completed the acquisition of Urbaser, one of 
the world's largest providers of environmental services, from China 
Tianying Inc. for an enterprise value of approximately $4.2 billion 
(EUR3.5 billion). 
   Urbaser is a leading global environmental management company oriented 
towards sustainability and innovation, serving more than 70 million 
people in 25 countries through a network of more than 50,000 employees. 
Currently, it is responsible for cleaning more than 8 million kilometers 
of streets in different cities around the world and maintaining 25 
million square meters of green areas. It operates 133 waste treatment 
facilities with a total of 20 million tons treated; produces 1,500 GWh 
of electrical energy from waste and in the last year has avoided the 
emission of almost 2 million tons of CO2 equivalent. 
   "Urbaser is a world leader in environmental management that is 
developing innovative solutions that improve the quality of life for 
people in the communities it serves," said Platinum Equity Partner Louis 
Samson, who oversees the firm's European operations. "The company is 
also another important addition to Platinum's growing portfolio of 
operating companies headquartered in Europe and a direct reflection of 
our commitment to investing in the region. We have had great success 
delivering divestiture solutions to sellers in Europe and creating value 
across a wide range of industries. Urbaser is another exciting step 
forward." 
   Other current European Platinum Equity investments include: wine 
producer Fantini Group Vini (Ortona, Italy); private label sweet 
biscuits manufacturer Biscuit International (Paris); global marine 
contractor De Wave Group (Genoa, Italy); seafood provider Iberconsa 
(Vigo, Spain); and European vacation rentals group Awaze (London). 
   Founded in 1990 and headquartered in Madrid, Spain, Urbaser's core 
business comprises three segments -- Urban Services (waste collection, 
street and beach cleaning, green area management and water management), 
Municipal Waste Treatment, and Industrial Waste Treatment -- 
concentrated primarily in Spain, Chile, Argentina, France, UK and the 
Nordic region. The company generated approximately $2.8 billion (EUR2.3 
billion) in revenue for fiscal year 2020. 
   "Urbaser is an outstanding business with strong customer relationships, 
great technical know-how, exceptional contracts and assets, and an ESG 
profile aligned with the increasing demand for sustainable solutions all 
over the world," said Platinum Equity Managing Director Igor 
Chacartegui. "The company is a global leader in many value-added waste 
treatment technologies such as waste-to-energy, anaerobic digestion, 
composting and regeneration facilities. We are excited about the 
opportunity to continue investing in those vital solutions and expanding 
their impact." 
   In addition to its core services, Urbaser has made substantial 
investments in R&D with a focus on circular economy solutions like 
bioplastics, bioproducts, compost, waste oil from vessels recovery, and 
advancements in innovative waste collection practices. The company's 
commitment to innovation is a competitive advantage and fundamental to 
providing sustainable solutions for the development of urban services, 
integrated water management, and treatment of municipal and industrial 
waste. (More information is available in the company's 2020 
Sustainability Report.) 
   José MarÃ-a López Piñol is continuing to lead Urbaser 
as Chief Executive Officer. 
   "We believe Platinum is the perfect partner to help accelerate our 
growth and support our efforts to create new sustainability solutions 
that can help our customers tackle the complex environmental challenges 
they face," said Mr. López Piñol. "Their financial and 
operational resources will be tremendously beneficial in our efforts to 
achieve Urbaser's long-term strategic goals." 
   Citi and Santander are serving as investment advisors to Platinum Equity 
on the acquisition of Urbaser. Latham and Watkins is serving as the 
firm's legal counsel. 
   Additional insight into the Urbaser acquisition is available here: 
Managing Director Igor Chacartegui talks about the importance of trust, 
relationships and ESG in Platinum's latest European buyout. 
   About Platinum Equity 
   Founded in 1995 by Tom Gores, Platinum Equity is a global investment 
firm with more than $25 billion of assets under management and a 
portfolio of approximately 50 operating companies that serve customers 
around the world. The firm is currently investing from Platinum Equity 
Capital Partners V, a $10 billion global buyout fund, and Platinum 
Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment 
opportunities in the lower middle market. Platinum Equity specializes in 
mergers, acquisitions and operations -- a trademarked strategy it calls 
M&A&O(R) -- acquiring and operating companies in a broad range of 
business markets, including manufacturing, distribution, transportation 
and logistics, equipment rental, metals services, media and 
entertainment, technology, telecommunications and other industries. Over 
the past 25 years Platinum Equity has completed more than 300 
acquisitions. 
   Media Contact: 
   Dan Whelan, Platinum Equity 
   (310) 282-9202 
   dwhelan@platinumequity.com 
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   SOURCE Platinum Equity