CVC DIF has acquired a 49.9% stake in Singapore-based hazardous waste management company ECO from S茅ch茅 Environnement, marking its first investment in Asia.
CVC DIF is investing an unspecified amount on behalf of the DIF Infrastructure VII fund to own ECO alongside S茅ch茅 Environnement.
ECO, which provides hazardous waste management services in Singapore, operates 12 waste incinerators and four specialised treatment facilities, including a cementation plant for inorganic waste and a wastewater treatment plant for both organic and inorganic liquid waste.
Gijs Voskuyl, managing partner at CVC DIF, said: 鈥淓CO鈥檚 leading market position, their longstanding and diversified client relationships and the high barriers to entry in the sector make this an interesting investment for DIF Infrastructure VII.
鈥淢oreover, this investment marks the first investment of CVC DIF in Southeast Asia, on the back of CVC DIF鈥檚 global sector relationships and CVC鈥檚 widespread local office network in the region.鈥�
Alvin Lim, senior managing director at CVC Asia, said: 鈥淭his acquisition is a pivotal entry point for CVC DIF in Asia.
鈥淲ith CVC DIF鈥檚 infrastructure sector expertise and CVC Asia鈥檚 strong local presence, we are excited to support ECO鈥檚 management team, in partnership with S茅ch茅 Environnement, to further drive ECO鈥檚 growth initiatives.鈥�
Maxime S茅ch茅, CEO of S茅ch茅 Environnement, said: 鈥淲e are delighted to have CVC DIF, a key player in infrastructure investment, as a long-term partner in ECO. Together, we share an ambitious vision for ECO鈥檚 future, one that aligns with CVC DIF鈥檚 ambition to advancing infrastructure across Asia.
鈥淭he combination of our industrial, financial and strategic expertise provides a strong foundation for ECO鈥檚 growth in Southeast Asia.鈥�
To read the latest 91传媒在线 magazine click here.
