AIMCo joins Equitix-led investment in UK energy-from-waste leader Viridor

Long-term infrastructure investors partner to support Viridor's continued growth and development

AIMCo has joined the Equitix-led transaction alongside GCM Grosvenor to acquire a 50% interest in Viridor Group ("Viridor"), the UK's largest energy-from-waste platform. The interests were acquired from KKR, which retains a 50% interest in Viridor.

Viridor operates 12 energy-from-waste facilities across the UK, with two additional facilities in construction. As the UK's largest energy-from-waste platform, Viridor plays an important role in processing residual waste and generating energy through critical waste-management infrastructure.

The investor group was attracted to Viridor's market-leading position, long-term contracted and inflation-linked cash flows, diversified operating footprint and opportunities for future growth through its development pipeline. The transaction supports Viridor's continued leadership in the UK energy-from-waste sector, and the investor group is committed to supporting the management team as the business continues to grow and develop.

Achal Bhuwania, Equitix Chief Investment Officer said: "We are delighted to welcome AIMCo as part of an Equitix-led investor group alongside GCM Grosvenor, holding a 50% co-control position in Viridor. Viridor's essential infrastructure assets, resilient utility-like characteristics and exposure to long-term themes such as resource recovery and decarbonisation make it an attractive platform for sustainable growth. We look forward to continuing to work closely with KKR and the management team to support its next phase of growth."

"Viridor is a strong fit for AIMCo's infrastructure portfolio: it is a market-leading business providing an essential service, with resilient, long-term cash flow characteristics and opportunities for future growth," said Ben Hawkins, Executive Managing Director, Global Head of Infrastructure, Renewable Resources and Energy Transition. "As AIMCo's first investment in the energy-from-waste sector, it broadens our infrastructure portfolio and supports our objective of delivering long-term value for the clients we serve."