ENVIROPACIFIC acquired by VEOLIA
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 in 2025, is valued in this transaction at an EV/EBITDA multiple of .
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 VIEW220M AUD
Equity Value
Multiples
FREE VIEW
EV / Revenue
0.9x
EV / EBITDA
EV / EBIT
Historical Financials (AUD)
FREE VIEWSimilar 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 |
| 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 |
| 04/2019 | SECHE ENVIRONNEMENT | MECOMER | ITALY | Hazardous Waste |
| 05/2018 | ANTIN INFRASTRUCTURE | IDEX | FRANCE | District Heating |
| 06/2013 | TRITON PARTNERS | BEFESA | LUXEMBOURG | Hazardous Waste |
REFERENCES
Valuation range: EV 100M - 350M AUD
Revenue range: 250M - 500M AUD
EBITDA range: 25M - 50M AUD
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Press release: view release
Target: enviropacific
Acquirer: veolia