Cuatrecasas advised Platinum Equity on acquiring Urbaser, one of the world's largest providers of environmental services, from China Tianying (CNTY) in a transaction with an enterprise value of €3.5 billion.
The sale is expected to be completed during the third quarter of 2021, subject to China Tianying shareholder and customary regulatory approvals. Platinum Equity is a global investment firm with more than $25 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world. With this acquisition, the US private equity fund founded by Tom Gores continues with its ambitious investment plan in Europe.
Urbaser's business comprises three main segments—urban services (waste collection, street cleaning and water management), municipal waste treatment, and industrial waste treatment.