Macquarie Infrastructure Partners completes acquisition of US waste-to-energy developer
Macquarie Infrastructure Partners and Wheelabrator Technologies Inc. have announced that MIP, acting through one of its managed funds, has completed the purchase of Wheelabrator from funds managed by Energy Capital Partners. MIP operates within the Macquarie Infrastructure and Real Assets division of Macquarie Group.
Wheelabrator owns and operates waste-to-energy (WtE) facilities, providing critical waste disposal solutions for local communities and delivering baseload, renewable energy to residential and commercial customers. Headquartered in Portsmouth, New Hampshire, Wheelabrator currently has a platform of 25 strategically located assets located in the U.S. and the U.K, including 19 WtE facilities (three under construction), two waste fuel facilities and four ash monofills.
The sale was approved by the Federal Energy Regulatory Commission, Committee on Foreign Investment in the United States, Department of Justice, Federal Trade Commission, Federal Communications Commission and the New Jersey Department of Environmental Protection.
Credit Suisse and UBS Investment Bank served as financial advisors to Wheelabrator on the sale and Latham & Watkins LLP served as legal counsel. Greentech Capital Advisors and RBC Capital Markets served as financial advisors to MIP and Kirkland & Ellis served as legal counsel.
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