Suez and Partners Complete Enviroserv Acquisition

Cape Town, 5 October 2022. On 30th September 2022, SUEZ together with Royal Bafokeng Holdings (RBH) and African Infrastructure Investment Managers (AIIM) completed the acquisition of EnviroServ Proprietary Holdings Limited and its subsidiaries (“EnviroServ”) after having received the approval of the local antitrust authorities, in accordance with the terms announced on 9th June 2022.

This acquisition will enable SUEZ to reinforce its positioning as an international leader in industrial and municipal waste treatment activities and to strengthen its position on the African continent.

Founded in 1979, EnviroServ collects, treats and disposes of general and hazardous waste to treatment and disposal facilities across South Africa, Mozambique and Uganda.  With a staff of 2, 200 people and a turnover in excess of 80 million euros, it is the only player in South Africa with full national coverage and a complete offering for industries (including on-site management, collection, treatment, remediation and related services).  EnviroServ’s portfolio of customers includes a high number of multinational firms operating in the petrochemicals, manufacturing, metallurgical and mining sectors.

EnviroServ contributes to the circular economy by recycling 125 000 tons and managing 1.7 million tons of hazardous and general waste per year.  The company owns and operates a fleet of 175 specialised waste-transport vehicles, 10 treatment and disposal sites and manages a further 5 facilities within the 3 countries where it operates.  Thanks to the large portion of local shareholding, EnviroServ will remain committed to retaining its B-BBEEE Level 1 rating, the highest Broad-Based Black Economic Empowerment possible.

The new shareholders’ ambition is for EnviroServ to grow as the undisputed leader of environmental services in South Africa and the region, leveraging on its strong capabilities and SUEZ’s support to invest in infrastructure and operations, enrich its commercial offer and develop new waste treatment modes contributing to a more circular economy.

“I am thrilled by EnviroServ joining SUEZ Group:  this is a team with a unique track record over the last 40 years, which enabled the company to become the leader in hazardous and non-hazardous waste treatment activities in Southern Africa.  I am convinced that SUEZ can further nurture the profitable growth of EnviroServ with additional references, best practices, innovation and investments.  I am equally convinced that the team’s skills, expertise and talents will support SUEZ Group in expanding its activities in South Africa as well as in other geographies.  With all Group employees, I would like to welcome our new colleagues and look forward to a bright, common future.”

“As the first waste and water management platform investment for RBH, we are pleased that the EnviroServ acquisition is now complete.  This is an opportunity to further diversify our portfolio and grow our exposure in the circular economy.  We look forward to working with our partners as we strive to make a meaningful contribution and respond to the sustainable development agenda.”

"The delivery of sustainable waste solutions to the African market is a critical need for the continent.  EnviroServ Waste Management, a leading and environmentally responsible waste management company, is looking forward to the wealth of knowledge and experience that our new shareholders will bring to the South African waste markets.  This will further enhance our existing product and service offering and create a robust platform for innovation and growth."

Present on the African continent since the construction of the Sherbine water treatment plant in Egypt in 1948, SUEZ has built more than 500 drinking water and sanitation plants that service most African capitals.  SUEZ is notably present in Morocco, Egypt, Senegal, Tunisia and Côte d’Ivoire.

Faced with growing environmental challenges, for than 160 years, SUEZ has been acting to deliver essential services that protect and improve the quality of life.  SUEZ enables its customers to provide access to water and waste services, with resilient and innovative solutions.  With its 35 000 employees present in 40 countries, the Group also enables its customers to create value over the entire lifecycle of their assets and services, and to drive their ecological transition, together with their end-users.  In 2021, SUEZ produced drinking water for 66 million people worldwide and sanitation for more than 33 million people.  The Group generates 3.6 TWh of energy from waste and wastewater per year and avoided the emission of 3.8 million tons of CO2.  In 2021, SUEZ generated revenues of 7.5 billion euros.  For more information:  www.suez.com / Twitter @suez

Royal Bafokeng Holdings (RBH) is an African community investment holding company with a unique responsibility of preserving and growing the financial capital of the Royal Bafokeng Nation (RBN).  RBH is a long-term investor with a legacy of acquiring significant stakes in high growth, defensive sectors and high-quality companies with established track-records.  We actively manage a diverse portfolio with a net asset value of approximately R46 million (as at December 2021) consisting of listed and unlisted assets in a range of geographies and sectors, including telecoms, infrastructure, property, financial services, resources and industrials.  RBH is a B-BBEEE Level 1 contributor.  www.bafokengholdings.com

AIIM, a member of Old Mutual Alternative Investments* (OMAI), has been investing in the African infrastructure sector since 1999 with a track record extending across seven African infrastructure funds.  AIIM’s team of 40+ investment professionals is based out of five locally staffed offices across the continent in Cape Town, Johannesburg, Nairobi, Lagos and Abidjan providing direct on-the-ground coverage of our key markets.  AIIM currently manages an aggregate AUM of USD2.4 billion in assets across the power, renewable energy, digital infrastructure, mid-stream energy and transport sectors with operations in 19 African countries.  AIIM is a licensed FSP approved by the Financial Sector Conduct Authority in South Africa. 

*Old Mutual Alternative Investments (OMAI) is a private alternative investment manager in Africa, with over USD4.8 billion (SAR76 billion) under management in infrastructure, private equity, hybrid equity and impact funds.  It is a member of Old Mutual Investment Group, the investment management arm of Old Mutual.

For more information, please visit:  https://aiimafrica.com