Cube Infrastructure Fund III, managed by Cube Infrastructure Managers, has agreed to acquire Urbaser Nordic, an infrastructure service provider delivering municipal waste collection services to local communities in all Nordic countries.
Nord is the leading Nordic municipal waste collection platform with operations across Denmark, Norway, Sweden and Finland. The company serves approximately100 municipalities and more than 5 million inhabitants with 1,800 FTEs and a fleet of 1,100 trucks, 45 percent of which are driven by green technologies (electric, biogas and hydrotreated vegetable oils/HVO).
Nord’s revenues are underpinned by a diversified portfolio of more than 175 medium- to long-term contracts with local authorities. The contracts are largely availability-based and protected against inflation, which provides strong resilience through economic cycles and crisis as proven during COVID-19 and the 2022 energy crisis.