PIZZORNO ENVIRONNEMENT acquired by PAPREC

Meanings Capital Partners, through its infrastructure vehicle, has acquired a controlling stake of over 75% in Moulinot. The valuation includes approximately €20 million in debt, reflecting the capital-intensive nature of the company’s industrial expansion. The transaction facilitates a complete exit for most historical impact investors, while Abeille Impact Investing remains a minority shareholder alongside the existing management team. As part of a multi-stage development plan, Meanings intends to deploy a total investment envelope of roughly €50 million to ramp up production at existing sites and fund the rollout of new facilities, with the Lyon region identified as the next strategic target for expansion

Blackstone Infrastructure and EQT Infrastructure agreed to jointly acquire Urbaser from Platinum Equity. The two firms will each own 50% of the company and co-manage the asset. The transaction supports Urbaser's strategy to lead the transition towards a circular economy. The new owners plan to invest in expanding the industrial waste segment while maintaining strong municipal relationships. The deal is subject to customary regulatory approvals.

DI Environnement opened its capital to a financial partner for the first time by welcoming Capza as a minority shareholder (holding a 5% stake). The transaction involved an investment of over €30 million through a mix of equity and non-dilutive rate instruments from the Flex 6 fund. The strategic rationale is to shift from purely organic growth to an aggressive "buy-and-build" strategy, with the ambition of doubling the company's size within five years. The deal was complemented by a senior debt package arranged by BPCE and Crédit Agricole

Seche Environnement has signed a unilateral purchase agreement to acquire the Flamme Group, a family-owned specialist in hazardous waste management. This acquisition strengthens Seche's geographical footprint in Northern France and expands its capabilities in industrial waste incineration and sanitation. By integrating Flamme's expertise, the group consolidates its leading position in the circular economy and hazardous waste treatment markets across Europe.

Sulo, the European leader in waste containers and compactors, has initiated a secondary LBO with its existing shareholder, Latour Capital. After a previously planned divestment to One Rock Capital in early 2024 did not materialize, Latour Capital opted to reinvest in the company via its fourth flagship fund and a dedicated co-investment vehicle involving roughly ten Limited Partners (LPs).

The acquisition of Specialacque and Specialspurghi is strategically aligned with the Itelyum's ongoing M&A program, which focuses on consolidating regional market leaders to strengthen its national service network and technological capabilities in waste treatment. By integrating the Brescia-based cluster, Itelyum expands its industrial wastewater treatment footprint and enhances its regional logistics and remediation services in Northern Italy. The acquisition allows the group to benefit from specialized, high-capacity hazardous waste treatment infrastructure, further reinforcing its competitive advantage in the complex waste management segment

Ireti has successfully completed the acquisition of the remaining 40% interest in Iren Acqua from F2i Sgr, concluding a long-term institutional partnership. The strategic rationale for this 100% consolidation is to fully internalize the management of the Genoa water basin, allowing for the eventual merger of the target into the parent infrastructure division. This corporate rationalization is expected to extract significant operational synergies and eliminate the leakage of dividends to minority shareholders

Seche Environnement has signed an agreement to acquire Eco Industrial Environmental Engineering, the leading player in Singapore's hazardous waste market. This strategic entry into Southeast Asia allows the French group to support its industrial clients in a high-growth region. By integrating Eco's specialized treatment and recovery capabilities, Seche significantly strengthens its international footprint and enhances its overall growth and profitability profile.

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

2BSI has completed a new LBO to accelerate its growth in material and energy recovery. Specializing in niche markets like concrete and wood waste recycling, the group maintains long-term partnerships with major institutions such as Enedis and SNCF. This transaction supports 2BSI's goal to lead the circular economy and energy transition by controlling its entire value chain, from infrastructure waste collection to the production of high-value recycled products.