Ardian agrees to buy waste-to-energy firm Attero

French private equity firm Ardian unveiled a deal to acquire Attero, a Dutch company active in waste-to-energy and biomethane production, from UK investment company 3i Infrastructure Plc (LON:3IN) and a unit of Deutsche Bank AG (ETR:DBK), with a plan to expand the business into new fields, such as solar power.

Attero processes 3.6 million tonnes of waste from municipalities and businesses and generates more than 800 GWh of renewable electricity along with 22 million cubic meters (776 million cu ft) of green gas. The company owns two of the largest waste-to-energy plants in Western Europe and also operates anaerobic digestion sites, composting facilities, mineral recycling and depository locations, post-separation installations and plastic recycling capacity.

Ardian did not disclose the overall value of the transaction. 3i Infrastructure in a separate statement said it expects net proceeds of about EUR 215 million (USD 237m) from the sale of its 25% interest.

The other shareholders of Wilp-headquartered Attero are DWS, formerly known as Deutsche Asset Management, with a 50% stake, and other funds managed by 3i with a holding of about 25%.

The French private equity firm has committed to supporting the renewable energy expansion of Attero through investments in biomethane from organic waste and solar PV development on closed landfill sites with additional plans for carbon capture and storage facilities development.

The transaction hinges on regulatory clearances and is set to close in the fourth quarter of 2023.

(EUR 1 = USD 1.102)

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