CVC DIF has agreed to acquire a 49.9% stake in ECO, a hazardous waste management company in Singapore.

• ECO operates with 649,000 tonnes per year waste processing capacity for its customers across a range of services.
• This acquisition marks CVC DIF’s inaugural investment into Asia.
• Séché Environnement will retain a 50.1% share and bring their extensive waste management and circular economy waste expertise to the partnership.

CVC DIF, the infrastructure arm of global private markets manager CVC, has agreed to acquire a 49.9% stake in ECO, Singapore’s leading hazardous waste management company (by market share, range of service offerings & treatment and incineration capacity), from Séché Environnement (who will retain a 50.1% share). This transaction marks CVC DIF’s inaugural investment in Asia. The investment in ECO will be made through DIF Infrastructure VII.

ECO is a local market leader with a strong focus on innovation and technology regarding the circular economy that serves a diversified customer base of leading industrial companies benefiting from long term relationships offering the broadest array of hazardous waste management services in Singapore. With a waste processing capacity of 649,000 tonnes per year (“ktpa”), ECO operates 12 waste incinerators (439 ktpa) and four specialized treatment facilities (210 ktpa), including a cementation plant for inorganic waste and a wastewater treatment plant for both organic and inorganic liquid waste. The company operates with a team of over 300 employees and a dedicated fleet of waste collection vehicles.

Gijs Voskuyl, Managing Partner at CVC DIF, said: “ECO’s 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. Moreover, this investment marks the first investment of CVC DIF in Southeast Asia, on the back of CVC DIF’s global sector relationships and CVC’s widespread local office network in the region. We are delighted to partner with Séché Environnement, a market leader in hazardous waste. Together with Séché Environnement and ECO’s Singapore based management team, we are well-positioned to drive ECO’s growth as a leader in sustainable infrastructure in the region.”

Alvin Lim, Senior Managing Director at CVC Asia, commented: “This acquisition is a pivotal entry point for CVC DIF in Asia. With CVC DIF’s infrastructure sector expertise and CVC Asia’s strong local presence, we are excited to support ECO’s management team, in partnership with Séché Environnement, to further drive ECO’s growth initiatives.”

Maxime Séché, CEO of Séché Environnement, added: “We 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’s future, one that aligns with CVC DIF’s ambition to advancing infrastructure across Asia. The combination of our industrial, financial and strategic expertise provides a strong foundation for ECO’s growth in Southeast Asia.”

The transaction is expected to close in the coming weeks.