KKR and Co. has plans to acquire a 60 percent stake in environmental solution provider Ramky Enviro Engineers Ltd (REEL) for $530 million. This is the largest buyout by a private equity firm in India’s environmental services sector. The acquisition will be done through a combination of primary and secondary investments from KKR’s Asian Fund III.
Hyderabad-based REEL’s offerings of environment management services include collection, transport and processing of hazardous, municipal, biomedical and e-waste, as well as recycling of paper, plastic and chemicals.
In India, the company is present in 60 locations across 20 Indian states.
REEL operates the country’s largest waste-to-energy plant in Delhi with a power generating capacity of 24 megawatts by converting 1,500 tonnes of waste every day. Its other waste-to-energy plants are located in Hyderabad, Nasik, Koyambedu and Rewa. The company handles 3.5 million tonnes of municipal waste, 1 million tonnes of industrial waste, and caters to 20,000 healthcare establishments.
