Key Moments
- Platinum Equity agreed to sell Spanish waste manager Urbaser to Blackstone and EQT for $6.6 billion.
- Blackstone and EQT will each acquire a 50% stake in Urbaser and will jointly oversee the company.
- Platinum Equity will continue to own Urbaser’s waste management operations in Argentina.
Transaction Overview
Platinum Equity has entered into an agreement to divest Spanish waste management group Urbaser to Blackstone and EQT in a transaction valued at $6.6 billion, according to a statement from Platinum Equity issued on Thursday.
As part of the deal, Platinum Equity will maintain control of Urbaser’s waste management activities in Argentina, the firm said.
Ownership and Governance Structure
Blackstone and EQT stated in separate announcements that they will each purchase a 50% interest in Urbaser. The two buyout firms will jointly manage the business following completion of the acquisition.
| Party | Role / Stake | Details |
|---|---|---|
| Platinum Equity | Seller, retained owner of Argentina business | Selling Urbaser for $6.6 billion; keeping Argentine waste management operations |
| Blackstone | Buyer – 50% stake | Will jointly manage Urbaser with EQT |
| EQT | Buyer – 50% stake | Will jointly manage Urbaser with Blackstone |
Urbaser’s Business Profile
Urbaser, headquartered in Madrid, Spain, focuses on waste management services spanning municipal and industrial waste. The company operates in 15 countries, according to information provided on its website.
Blackstone and EQT said they plan to support Urbaser in further expanding its presence in the industrial waste market, while also reinforcing its core municipal waste activities.
Deal History and Advisory
Platinum Equity previously acquired Urbaser in 2021 from China Tianying in a transaction valued at $4.2 billion, including debt.
Citi and Santander served as financial advisers to Platinum Equity on the latest sale.
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