Energy Capital has signed a definitive agreement to sell Wheelabrator Technologies to Macquarie Infrastructure Partners.

Waste360 Staff, Staff

October 3, 2018

1 Min Read
Energy Capital Partners Signs Agreement to Sell Wheelabrator

Energy Capital Partners (ECP) has entered into a definitive agreement to sell Wheelabrator Technologies Inc., an owner and operator of waste-to-energy (WTE) facilities, to Macquarie Infrastructure Partners (MIP), which operates within the Macquarie Infrastructure and Real Assets (MIRA) division of Macquarie Group. MIP will make the investment through one of its managed funds.

Wheelabrator provides a waste disposal solution for local communities and delivers renewable energy to residential and commercial consumers. Wheelabrator currently has a platform of 26 assets in the U.S. and the U.K., including 19 WTE facilities (three under construction), three independent power plants and four ash monofills.

"Today's announcement marks another important step for the company,” said Robert Boucher, president and CEO of Wheelabrator, in a statement. “Over the last few years under ECP's ownership, we have enhanced our core business here in the United States and further developed on our strong pipeline of additional waste-to-energy projects in the United Kingdom. We are confident that the long-term support from MIP will allow Wheelabrator to continue to operate as a trusted and reliable partner for its customers and continue to execute on our growth agenda."

"We would like to express our appreciation to Bob and the entire Wheelabrator team for the excellent partnership we have enjoyed and the success achieved by the business under ECP's ownership," said Tyler Reeder, partner at ECP, in a statement. "We are confident that Wheelabrator will continue to succeed under MIP's ownership."

The transaction is subject to Federal Energy Regulatory Commission, Committee on Foreign Investment in the United States, Federal Communications Commission and New Jersey Department of Environmental Protection approvals and other customary closing conditions. It is expected to close in the first quarter of 2019.

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