Regulatory News:
Séché Environnement (Paris:SCHP) announces the signature of
an SPA1 with a view to acquiring ECO Industrial Environmental
Engineering Pte Ltd (“ECO”), the leading player in the hazardous
industrial waste market in Singapore.
With the widest range of products and services on offer, a
loyal customer base of core industries and the latest
high-performance industrial facilities, ECO will give Séché a major
position in a dynamic industrial region where the Group was
previously less active.
This acquisition is fully in line with Séché's ambition to
support its core industrial customers in the dynamic hazardous
industrial waste markets of Southeast Asia.
An accretive transaction, this acquisition reinforces the
Group's prospects for growth and profitability.
Present since 1995 across the entire value chain in the
hazardous waste business, and with a market share of around 32%,
ECO is today the number one operator in Singapore’s hazardous waste
recovery and treatment markets, well ahead of its main competitors
in terms of installed capacity, volumes handled, service offerings
and customer portfolio.
A major player in the circular economy applied to hazardous
waste.
A true "all-in-one" recovery and treatment center for hazardous
industrial waste, ECO is located on a single site of 68,400 m2,
where its facilities (incinerators with or without energy recovery,
industrial water treatment plant, stabilization plant, etc.), all
recent and with complementary technologies, have a total annual
capacity of almost 440 Kt.
ECO has all the authorizations required to manage various types
of solid, gaseous, and liquid hazardous waste - including
industrial wastewater treatment plant sludge - from a diversified
customer base of blue-chip industrials belonging to the core target
sectors of chemicals, pharmaceuticals, energy and renewables and
semiconductors.
With around 300 employees, ECO is present for its customers at
every stage of the hazardous waste management value chain in
Singapore, providing collection, transportation, recovery, and
treatment services for hazardous waste.
ECO also holds stakes in two joint ventures active in the
circular economy, one specializing in activated carbon reactivation
with a global chemicals manufacturer, and the other in precious
metals regeneration in partnership with a global precious metals
recycling manufacturer.
In 2023, almost 80% of the Company's sales were generated by the
recovery and treatment of hazardous waste and 10% by the treatment
of sewage sludge from Singapore's Water Reclamation Plants.
For the balance, ECO provides its customers with several
complementary, high value-added services, such as integrated waste
management, depollution (including environmental emergency services
and asbestos removal), trading in the by-products of materials
recovery, deconstruction and decontamination, or even promising
niche activities such as the treatment of carbon soot waste from
synthesis gas production or the recovery of activated carbon.
The company also has a fleet of around 35 vehicles to provide
all its collection, transportation, and depollution services.
With its recognized technical capabilities and know-how, the
Company is responding to the prospects of a Singaporean hazardous
waste market with high barriers to entry, driven by the chemical,
energy and renewable energies industries.
As a result, ECO has developed solid commercial relationships
with a diversified industrial customer base, resulting in a high
rate of contract renewals and generating a solid revenue base and a
high level of visibility on its revenue profile.
In 2023, the Company generated sales of around SGD 96 million2
and an adjusted3 EBITDA of around SGD 41 million.
An accretive transaction that opens up new markets and
accelerates Séché's profitable growth strategy.
For Séché Environnement, this acquisition gives the Group a
major position with its target customers in the buoyant
environmental markets of Singapore and, more broadly, in the
markets of the APAC region.
Commenting on the acquisition, Maxime Séché, Chief Executive
Officer, said: "Our Group has seized a rare opportunity to invest
in a regional leader in hazardous waste management. With its
comprehensive hazardous waste management offering, ECO enables us
to serve a core customer base in a dynamic industrial region.
Thanks to its commercial dynamism, cutting-edge know-how and
high-performance technological tools, ECO will provide us with a
platform for significant growth in the APAC region in all our
businesses, from the circular economy to hazard management and
environmental services. This is a major operation that will
accelerate our strategy of profitable growth".
This acquisition is subject to a favorable vote by Beijing
Capital Eco-Environment Protection Group Co., Ltd.'s Extraordinary
General Meeting of Shareholders.
This acquisition concerns 100% of the shares and represents a
purchase price of around SGD 605 million4, the financing of which
has already been secured by a committed financing facility from a
bank.
In the event of a favorable vote, this acquisition would be
carried out through a Singapore acquisition company ("SPV") Séché
Holdings (SG) Pte. Ltd.
Séché Environnement hired BNP Paribas as financial advisor and
Latham & Watkins as legal advisor for this transaction.
Next communication
Consolidated results to June 30, 2024: September 4, 2024 after
market close
About Séché Environnement
Séché Environnement is a benchmark player in waste management,
including the most complex and hazardous waste, and in
environmental services, particularly in the event of environmental
emergencies. Thanks to its expertise in the creation of circular
economy loops, decarbonization and hazard control, the Group has
been contributing to the ecological transition of industries and
territories, as well as to the protection of living organisms, for
almost 40 years. A family-owned French industrial group, Séché
Environnement deploys the cutting-edge technologies developed by
its R&D at the heart of the territories, in more than 120 sites
in 16 countries, including some 50 industrial sites in France. With
over 6,100 employees, including more than 2,900 in France, Séché
Environnement generated sales of €1,013.5 million in 2023, 26% of
which outside France. Séché Environnement has been listed on
Eurolist by Euronext (compartment B) since November 27, 1997. The
stock is included in the CAC Mid&Small, EnterNext Tech 40 and
EnterNext PEA-PME 150 indices. ISIN: FR 0000039139 - Bloomberg:
SCHP.FP - Reuters: CCHE.PA
___________________________ 1 Share Purchase Agreement 2 For
information, approximate FX rate EUR/SGD =1.45 3 Based on ECO
EBITDA 2023 figures of SGD 37.4m + non-consolidated EBITDA from JV
of SGD 3.9m 4 Subject to adjustments at closing
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240617221442/en/
SÉCHÉ ENVIRONNEMENT
Analyst / Investor Relations Manuel ANDERSEN Investor
Relations Director m.andersen@groupe-seche.com +33 (0)1 53 21 53
60
Media Relations Anna JAEGY Deputy Communications Director
a.jaegy@groupe-seche.com +33 (0)1 53 21 53 53
Schwab US TIPs (AMEX:SCHP)
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Schwab US TIPs (AMEX:SCHP)
過去 株価チャート
から 6 2023 まで 6 2024
