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Australian financial enterprise buys into Irish waste company

Macquarie Asset Management, via Macquarie European Infrastructure Fund 6, has agreed to acquire Beauparc Utilities from founder Eamon Waters and Blackstone Tactical Opportunities Fund.

Beauparc is a recycling and processing led waste-to-resource business with a market leading position across Ireland, and a significant growing presence in the United Kingdom and the Netherlands. The portfolio of waste management services generates value from waste by processing materials from collectors, including its own residential and commercial collection business, towards reusable products and supplying waste to cement kilns and energy-from-waste facilities. 

Leigh Harrison, Head of Macquarie Infrastructure and Real Assets, said: “We see a significant opportunity to build on Beauparc’s strong reputation in the sector, investing to support the growth of the circular economy through projects that divert waste from landfill. We look forward to partnering with its team to support Beauparc’s long-term growth plans, maintaining its strong focus on customers, health and safety, and sustainability.” 

“Over 30 years, it has been an honour to see Beauparc grow from a two-person operation in Ireland to a business which employs more than 2,300 people across three markets. Our team has worked tirelessly to build the trust of our clients and the communities we serve. We are pleased to have found a new owner to shape the next chapter of Beauparc’s growth story,” said Eamon Waters, founder of Beauparc

“Our minority investment in Beauparc reflects our continued strategy of supporting entrepreneurs to grow their businesses. It has been a pleasure to partner with Eamon and the management team, and we are immensely proud of the success the company has achieved in recent years. Beauparc has established itself as a pioneer in the circular economy, and we wish the management team every success in its future partnership with Macquarie,” said Amer Khatoun, managing director of Blackstone.

Beauparc-owned businesses serve over 340,000 residential, commercial, electricity and gas customers across a portfolio of 40 waste facilities, where more than three million tonnes of waste is processed each year. Beauparc is seeking to increase the amount of recyclable waste through significant investments in plastics recycling, soil restoration and anaerobic digestion. 

Macquarie Asset Management has successfully invested and managed assets in the waste sector for more than 15 years. Its funds manage investments in companies that provide municipal solid waste, construction and demolition collection, transfer, treatment, recycling and disposal, as well as energy-from-waste, in the Americas and Asia-Pacific. 

The terms of the transaction have not been disclosed. Completion of the transaction is subject to receipt of customary regulatory approvals.