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Waste management firm FCC has struck a deal to buy rival Urbaser’s UK operations for some £398m.
Parent company FCC Servicios Medio Ambiente said the transaction between the two Spanish-owned companies was expected to be completed in the second quarter of 2024.
FCC has been in the UK market since 1989 through its affiliate FCC Environment UK and said buying Urbaser’s UK business would enable it to expand its product and service offering.
Urbaser entered the UK market in 1998 and operates composting, material recovery, energy-from-waste, final disposal and household recycling centres together with waste collection, recycling centre management and street cleansing.
The company said it employs some 1,700 people in the UK and handled 1.5 million tonnes of waste in 2022, business that represented around 5% of the group’s revenues.
Urbaser chief executive Fernando Abril-Martorell said the company, which was bought by Platinum Equity two years ago, was carrying out a strategy of selling international assets and would “continue to invest in key countries for us such as Spain”.
FCC Environment UK chief executive Steve Longdon said: “This is a very positive move for our business here in the UK strengthening our core services yet further.
“We are looking forward to welcoming the Urbaser team and to continuing to deliver exceptional services both to our existing and to our new clients.”
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