I Squared Capital, a leading global infrastructure investment manager, announced recently that it has signed a definitive agreement, through its ISQ Global Infrastructure Fund III, to acquire Enva, an environmental services platform providing mission-critical, highly specialized, and regulated waste management services in the UK and Ireland.
I Squared’s acquisition supports the firm’s environmental infrastructure strategy, which aims to build a diverse portfolio of waste processing and recycling, industrial waste-to-energy, and wastewater treatment assets in the Americas, Europe, and Asia-Pacific. That portfolio also includes U.S.-based VLS Environmental Solutions and Australia-based Soilco, as well as an industrial-waste-to-energy plant in Taiwan and multiple wastewater treatment facilities in China.
Enva conducts waste collection, processing, and resource recovery at 34 facilities across the UK and Ireland, serving more than 20,000 industrial, energy, automotive, and other customers. The company focuses on waste streams with complex technical and regulatory characteristics, requiring specialized expertise and licenses. By minimizing the potential adverse impacts of waste and focussing on the development and marketing of a range of low-CO2 waste-derived products, Enva helps its customers achieve their sustainability goals while generating revenue from waste streams that might otherwise be considered a liability.
Enva’s business model is at the heart of the circular economy and the company is well positioned to benefit from long-term secular trends including increasingly robust regulation around waste and recycling, strong consumer demand for recycled products, and increasing demand for waste-derived materials as industry seeks to address its CO2 footprint.
