Luxembourg-based Cube Infrastructure Managers and Equitix Investment Management have acquired Northern Irish waste management and energy recovery organisation RiverRidge.
RiverRidge provides services to seven out of eleven local authorities and has over 5,500 commercial clients it offers collection services. RiverRidge is also active in the energy-from-waste (EfW) space, with a minority stake in Northern Ireland’s only operating plant.
In 2022, the company treated over 400,000 tonnes of co-mingled waste and generated £60 million in revenue. Cube and Equitix have stated that they have ambitions to transition up the waste hierarchy and expand treatment options in the Northern Irish market.
Commenting on the acquisition, Saket Trivedi, Partner of Cube Infrastructure Managers, said: “The investment in RiverRidge Holdings represents a unique opportunity for Cube to acquire an essential infrastructure asset in a new geographic location, with the embedded opportunity to pivot towards the generation of renewable energy from waste.
“We are excited to be able to enter this journey with Equitix as our long-term partner, which will be instrumental in providing valuable expertise for the future growth of the Company.”
Equitix has known and had an excellent collaboration with RiverRidge for near to 10 years.
Hugh Crossley, Chief Executive Officer of Equitix, commented: “Equitix has known and had an excellent collaboration with RiverRidge for near to 10 years. We have a huge respect for the management team and are very pleased to extend this relationship by acquiring a stake in the company.
“This also allows us to proudly increase our commitment and presence to Northern Ireland. With the RiverRidge management team and our partners Cube, we expect to invest in and effectively grow the business over the coming years.
“This important investment aligns with our strategic vision of working in partnership to help reduce the impact of waste on climate change, avoid unnecessary landfill disposal and provide sustainable energy to the communities which our assets serve.”
