Ardian’s acquisition of Netherlands-based Attero, one of the largest independent European waste management and circular economy platforms, was a real standout for judges who awards it Renewables Acquisition of the Year for Europe. Judges hailed the deal for its creativity and wider impact on the market.  

Ardian agreed to acquire Attero, in July, from 3i Infrastructure and DWS.  

Headquartered in Wilp, Attero is a Dutch operator of energy-from-waste, plastics recycling, biomethane production, and inert mineral depository facilities, processing waste from municipalities and businesses and generating more than 800GWh of renewable electricity, equivalent to powering 300,000 homes, as well as 22 million m3 of green gas. 

With Ardian’s investment, Attero will further capitalise on its leading position and integrated business model across the waste management value chain, providing an integral and essential service to communities and industries. 

Ardian will support Attero’s renewable energy expansion via significant capex investments into biomethane from organic waste and solar PV development on closed landfill sites. 

Furthermore, Attero will accelerate its contribution to the decarbonization of Dutch industry through the development of carbon capture and storage facilities. 

Indeed, the development of CCS, which is to become a theme in waste M&A over the next few years.  

One judge said: “Holland has an impressive waste to energy and circular economy track record. This complex and interesting deal takes the thesis one step further, including plastics and importing waste from the UK. The deal also included an impressive expansion plan as well.” 

Another member of the judging panel said: “Attero was a very difficult asset for a buyer to get their head around due to multiplicity of revenue / business streams, the ETS regime, supply of waste and the huge capex plans. Ardian’s approach to the transaction allowed them to win and also create an excellent market precedent in circular economy.” 

The deal was also hailed by the judging panel an interesting investment across many different nascent technologies. 

Advisers included: 

• RBC – financial 
• De Brauw – legal
• Deloitte – financial and tax
• Arthur D Little – commercial
• Arup – technical and environmental
• Afry – energy
• Aon - insurance