Greentech Advises


Greentech Advises Macquarie on its Acquisition of Wheelabrator
October 2, 2018

Greentech Capital Advisors is pleased to announce the following transaction:
Financial advisor on its acquisition of

UndisclosedPending

*

CLIENT OVERVIEW

Macquarie Infrastructure and Real Assets (“MIRA”) is a business within the Macquarie Asset Management division of Macquarie Group and a global alternative asset manager focused on real estate, infrastructure, agriculture and energy assets. MIRA has significant expertise over the entire investment lifecycle, with capabilities in investment sourcing, investment management, investment realization and investor relations. Established in 1996, MIRA has approximately US$119 billion of total assets under management as of March 31, 2018.

* Mandated through Greentech Capital Advisors Securities, LLC

TRANSACTION OVERVIEW

  • On October 1st, 2018, Energy Capital Partners (“ECP”) announced it had entered into a definitive agreement to sell Wheelabrator Technologies, Inc. (“Wheelabrator”, or “the Company”), a leading owner and operator of waste-to-energy facilities, to Macquarie Infrastructure Partners (“MIP”), which operates within the MIRA division of Macquarie Group
  • Wheelabrator is the second largest US waste-to-energy business, and is an industry leader in the conversion of everyday residential and business waste into clean energy
  • The Company has a platform of 26 strategically located assets in the U.S. and the U.K, including 19 WtE facilities (three under construction), three independent power plants and four ash monofills
  • Wheelabrator has an annual waste processing capacity of over 8 million tons, and a total combined electric generating capacity of 782 megawatts – enough energy to power 700,000 homes
  • Wheelabrator was acquired from Waste Management in 2014 for $1.94 billion by ECP, an energy infrastructure-focused private equity firm with over $13 billion in capital commitments raised since 2005
  • The transaction is expected to close in Q1 2019

Greentech Capital Advisors acted as financial advisor to MIRA.

The transaction press release can be found here.

Robert Boucher, Chief Executive Officer of Wheelabrator, said: “Today’s announcement marks another important step for the company. Over the last few years under ECP’s ownership, we have enhanced our core business here in the United States and further developed on our strong pipeline of additional waste-to-energy projects in the United Kingdom. We are confident that the long term support from MIP will allow Wheelabrator to continue to operate as a trusted and reliable partner for its customers and continue to execute on our growth agenda.”

“We would like to express our appreciation to Bob and the entire Wheelabrator team for the excellent partnership we have enjoyed and the success achieved by the business under ECP’s ownership,” said Tyler Reeder, Partner at ECP. “We are confident that Wheelabrator will continue to succeed under MIP’s ownership.”

“Wheelabrator is a high-quality waste-to-energy business, with a well-diversified portfolio of assets,” said Karl Kuchel, CEO of MIP.  “We look forward to partnering with Wheelabrator management and staff to ensure the ongoing success of the Company in the years ahead.”

For additional information about this transaction, please contact:

Duncan Williams
Partner
+1 (415) 697-1560
duncan@greentechcapital.com

PJ Deschenes
Partner
+1 (212) 946-3362
pjdeschenes@greentechcapital.com

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