Macquarie Asset Management and British Columbia Investment Management Corporation (BCI) have completed the acquisition of Renewi, a company focused on recycling waste into reusable materials. The acquisition was made through Macquarie European Infrastructure Fund 7.
Renewi operates primarily in the Netherlands and Belgium, where it processes over 10 million tonnes of waste annually across approximately 150 sites. The company converts waste into materials such as paper, metal, plastics, glass, wood, building materials, compost, and water.
The Consortium aims to support Renewi's position as a leader in the circular economy across several European countries. They plan to assist with transformation initiatives like the One Renewi strategy to enhance logistics and processing capabilities. This investment is expected to help Renewi achieve its growth goals and improve recycling yields.
Gabriele Duesberg from Macquarie Asset Management expressed enthusiasm about the acquisition: “We are delighted to have finalised the acquisition of Renewi... We look forward to supporting the business as it becomes a European leader in the circular economy.”
Lincoln Webb from BCI also commented: “This acquisition represents an exciting opportunity for us to work alongside Renewi... helping to contribute to a more circular economy in Europe.”
Annemieke den Otter from Renewi stated: “We are excited to partner with the Consortium as we focus on advancing circularity... I am confident that with this new collaboration... we will create a more sustainable society for all.”
Macquarie Asset Management has been involved in waste management investments for over 15 years globally. Their investments aim at scaling businesses by providing capital while enhancing performance.
BCI’s investment comes under its Infrastructure & Renewable Resources program which focuses on long-life assets worldwide. BCI is one of Canada's largest institutional investors with significant investments across various sectors.
Renewi employs over 6,000 people and has achieved a recycling rate of 66.2% in FY24. Its efforts reportedly prevent over 2.5 million tonnes of CO2 emissions annually.