06/2024100%

Enviropacific acquired by Veolia

AUSTRALIA Utilities (Regulated Infrastructure) / Waste Management / Hazardous Waste EV AUD 100–350M

Context

Veolia has announced the acquisition of Enviropacific from Next Capital, as part of its strategic GreenUp plan to enhance its exposure to environmental security and emerging contaminants, while consolidating its presence in the Australian market. This move comes amidst a backdrop of increasingly stringent environmental regulations and growing demand for remediation services driven by industrial, military, and airport activities. These trends are fueling the need for solutions to address PFAS treatment, hazardous waste management, and contaminated site remediation. In this context, Enviropacific brings to Veolia its renowned expertise in soil remediation, PFAS treatment, and high-value-added environmental services, significantly bolstering the group's capabilities in these strategic segments. Beyond enhancing its expertise, Veolia plans to combine Enviropacific's operational know-how with its own technologies to develop a more integrated offering that covers site remediation, water treatment, and complex waste management. The acquisition also represents a significant growth lever for the group in Australia. By leveraging Enviropacific's client portfolio and operational capabilities, Veolia aims to accelerate its development in the region while strengthening its global position in PFAS and micropollutant treatment.

Enviropacific, which reported an EBITDA margin of [members only] in 2025, is valued in this transaction at an EV/EBITDA multiple of 5x–12x.

Target

Enviropacific is a leading Australian environmental services company specializing in remediation, contaminated site rehabilitation, and hazardous waste management. The company supports both public and private sector clients in identifying, treating, and restoring land affected by industrial, chemical, or defense-related pollution, as well as infrastructure and mining activities. With recognized expertise in managing complex contaminants, including per- and polyfluoroalkyl substances (PFAS), a major environmental concern in Australia and globally, Enviropacific provides comprehensive solutions across the entire remediation lifecycle. From environmental assessments and engineering to site work execution, contaminated soil treatment, and groundwater management, the company's capabilities encompass a broad range of technical, regulatory, and operational expertise. This enables Enviropacific to deliver large-scale projects for government agencies, critical infrastructure operators, and industrial groups, leveraging its unique combination of technical capabilities, regulatory knowledge, and operational resources.

Ent. Value

FREE VIEW

AUD 220m

Equity Value

[members only]

Multiples

FREE VIEW

EV / Revenue

0.9x

EV / EBITDA

5x–12x

EV / EBIT

[members only]

Historical Financials (AUD)

FREE VIEW

Year

Rev

EBITDA

EBIT

2025

250m

2024

Other operations with Veolia

Other operations with Veolia
Date	Acquirer	Target	Country	Sector
06/2026	VEOLIA	CLEAN EARTH	UNITED STATES	Hazardous Waste

Similar deals in Utilities (Regulated Infrastructure)

Similar deals in Utilities (Regulated Infrastructure)
Date	Acquirer	Target	Country	Sector
02/2025	IRETI	IREN ACQUA	ITALY	Water
01/2025	APOLLO GLOBAL MANAGEMENT / BC PARTNERS	GFL ENVIRONMENTAL SERVICES BUSINESS	CANADA	Hazardous Waste
06/2024	SECHE ENVIRONNEMENT	ECO CORPORATE ENVIRONMENTAL ENGINEERING (ECO)	SINGAPORE	Hazardous Waste
02/2024	LEVINE LEICHTMAN CAPITAL PARTNERS	USA WATER	UNITED STATES	Water
11/2023	PIONEER POINT PARTNERS	ESKEN RENEWABLES	UNITED KINGDOM	Waste-to-Energy
09/2023	EURAZEO	2B SERVICES & INNOVATIONS	FRANCE	Waste Management
09/2023	TPG	A-GAS	UNITED KINGDOM	Hazardous Waste
08/2021	STIRLING SQUARE CAPITAL / DEUTSCHE BETEILIGUNGS (DBAG)	ITELYUM	ITALY	Waste Management
06/2021	PLATINUM EQUITY	URBASER	SPAIN	Waste Management
06/2021	PENNON	BRISTOL WATER	UNITED KINGDOM	Water

REFERENCES

Valuation range: EV AUD 100–350M

Revenue range: AUD 250–500M

EBITDA range: AUD 25–50M

EV/Revenue range: below 1.5x

EV/EBITDA range: 5x - 12x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Enviropacific by Veolia are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Target: enviropacific

Acquirer: veolia

FAQ

What transaction does this page cover?

This page covers Veolia’s acquisition of 100% of Enviropacific, an Australian company specialised in Waste Management, in 2024.

How was the acquisition of Enviropacific by Veolia valued, and what multiples were paid?

The transaction valued Enviropacific at an enterprise value of AUD 220m, implying an EV/revenue multiple of 0.9x.

What were Enviropacific’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Enviropacific reported annual revenue of AUD 250m, with EBITDA estimated in the AUD 25–50M bracket (FY 2025). Detailed financial figures are available to members.

What sources support the information on this transaction?

Data on this transaction was compiled from the official corporate announcement published by the parties, combined with independent reporting from specialized financial and M&A publications.

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