Wheelabrator Technologies Inc. (Wheelabrator Technologies) announced that it has entered into an agreement to sell WTI / EFW Holdings (Wheelabrator U.K.) to the European Diversified Infrastructure Fund III SCSp (EDIF III), an infrastructure fund managed by First Sentier Investors (FSI). The transaction is expected to complete in early 2021.

Wheelabrator U.K. is the largest pure-play waste-to-energy business in the U.K. and is a developer, owner, and operator of strategically located waste-to-energy facilities, with seven waste-to-energy facilities in operation and advanced development. Wheelabrator U.K. is an integral part of the U.K.’s environmental infrastructure, diverting waste from landfills or export to continental Europe to provide residents and businesses with local, sustainable disposal of non-recyclable solid waste while creating renewable energy.

Wheelabrator Technologies was acquired by Macquarie Infrastructure Partners IV (MIP) in February 2019. MIP operates within the Macquarie Infrastructure and Real Assets division of Macquarie Group, the world’s largest infrastructure manager.

Credit Suisse and J.P. Morgan served as financial advisors to Wheelabrator U.K. on the sale and Linklaters served as legal counsel. Jefferies and Macquarie Capital served as financial advisors to FSI and Latham & Watkins served as lead legal counsel.