Macquarie completes acquisition of Wheelabrator Technologies Inc.
Macquarie Infrastructure Partners (MIP) and Wheelabrator Technologies Inc. (Wheelabrator) has announced that it has completed the purchase of Wheelabrator from funds managed by Energy Capital Partners (ECP). MIP operates within the Macquarie Infrastructure and Real Assets (MIRA) division of Macquarie Group.
Wheelabrator is a leading owner and operator of waste-to-energy (WtE) facilities. Wheelabrator provides critical waste disposal solutions for local communities and delivers baseload, renewable energy to residential and commercial customers. 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.
