Fiera Infrastructure has existing investments in the waste management sector
Infrastructure investors Fiera Infrastructure Inc. and Ancala Partners have completed their £390-million acquisition of Augean, a waste management company.
The deal was completed shortly after Ancala and Fiera won over rival bidder Morgan Stanley Infrastructure. The investors’ offer of £390 million prevailed as the highest bid.
Fiera Infrastructure is a mid-market direct infrastructure investor operating in Toronto, London, and New York. The company has $2.7 billion in assets under management and 39 infrastructure investments across utilities, telecommunications, transportation, renewables and PPPs. Fiera Infrastructure is also an affiliate of Fiera Capital Corporation, a Montreal-based independent asset management firm which has $179.5 billion in assets under management.
Ancala Partners is an independent infrastructure investment manager with offices in London and Luxembourg. The company’s portfolio includes renewables, transportation, utilities and telecommunications.
Formed in 2004, Augean is a specialist waste and resource management group serving the U.K.’s hazardous waste management sector. Jim Meredith, Chairman of Augean said, “We are already a sector leader and we look forward to benefitting from the resources, experience and expertise of Ancala and Fiera Infrastructure to continue transforming the business to improve on our market leadership, through delivering great customer service whilst providing real opportunity for employees and stakeholders."
Ancala and Fiera both have existing investments in the waste management sector. Ancala’s portfolio includes Biogen, owner and operator of anaerobic digestion plants in the U.K. and Ence, Spain’s biomass renewable energy platform. Fiera has invested in Cory Group, a waste management, recycling and energy recovery company.
"Augean is a leading provider of specialised waste management services in the UK, offering essential and responsible treatment and disposal solutions to a broad customer base. Fiera Infrastructure is excited to work alongside the management team at Augean to support the Company in its next stage of growth," said Alina Osorio, President of Fiera Infrastructure. Both investors also said that they are looking forward to working with Augean’s management team to support the business through its next stage of growth.
