Long-term financial partner CVC DIF to take
a stake in ECO’s capital.
Growth strategy confirmed for Singapore's
leading hazardous waste company.
Regulatory News:
Séché Environnement (Paris:SCHP) and CVC DIF,
the infrastructure arm of leading global private markets manager
CVC, have reached a definitive agreement under which CVC DIF will
hold 49.9% of ECO's capital following a reserved capital increase
of approximately SGD 311 million (approximately €216
million1).
CVC DIF's entry into ECO's capital reflects Séché
Environnement's desire to associate a long-term financial partner
with the development of its Singaporean subsidiary, a partner that
is already heavily invested locally.
This operation provides ECO with significant financial
resources to accelerate its development in the buoyant industrial
waste market of Singapore and, more broadly, the neighboring
countries of Southeast Asia.
On November the 1st 2024, Séché Environnement and CVC DIF have
signed a definitive agreement enabling CVC DIF to acquire 49.9% of
ECO's capital.
ECO serves a distinguished clientele of leading industrial
companies, offering the broadest array of hazardous waste
management services in Singapore.
The transaction will be completed in the coming weeks. Following
this transaction, ECO will continue to be fully consolidated by
Séché Environnement.
CVC DIF is a leading global mid-market infrastructure equity
fund manager with c.€18 billion of infrastructure assets under
management across the utilities, energy transition, transport and
digitalization sectors.
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, added: “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.”
Séché Environnement acquired 100% of ECO's capital on July 18,
20242 for SGD 608 million.
With sales of around €66 million in 2023, ECO is the market
leader in hazardous industrial waste in Singapore, with the widest
range of products and services, a loyal clientele of top-tier
industrial companies, and recent, high-performance industrial
facilities.
Thanks to ECO, Séché Environnement now occupies a major position
at the heart of the dynamic hazardous industrial waste markets of
Southeast Asia, where the Group was previously not present in.
Benefiting from a particularly solid financial profile,
characterized by high operating margins, robust free cash flow
generation and limited net financial debt, this capital increase
gives ECO significantly enhanced financial capacity to accelerate
its growth.
Maxime Séché, Chief Executive Officer of Séché Environnement,
commented: "We are delighted that CVC DIF, a leading investor in
the infrastructure sector, has joined us in the capital of ECO.
This new governance structure reflects our desire to support ECO's
growth with a long-term financial partner. CVC DIF and Séché
Environnement share an ambitious industrial plan for ECO, and the
pooling of our industrial and financial skills is an additional
asset for the success of ECO's growth strategy in Southeast
Asia.”
Upcoming events
Consolidated results to December 31, 2024
:
March 10, 2025 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 creating circular economy
loops, decarbonization and hazard control, the Group has been
contributing for nearly 40 years to the ecological transition of
industries and territories, as well as to the protection of living
organisms. 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
For more information: www.groupe-seche.com
____________________________ 1
Based on an FX rate of EUR/SGD of 1.44 as
of November 1, 2024.
2
See press release dated July 18, 2024
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241103073273/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)
過去 株価チャート
から 11 2024 まで 12 2024
Schwab US TIPs (AMEX:SCHP)
過去 株価チャート
から 12 2023 まで 12 2024
