Igneo Infrastructure Partners has agreed to acquire New Zealand’s largest resource recovery and waste management services provider, Waste Management NZ, from Beijing Capital Group.
Waste Management NZ’s collections business operates with more than 860 trucks across 70 locations in New Zealand, collecting more than 2.1 million municipal bins per month.
The deal represents Igneo’s first waste management acquisition in New Zealand and its third overall standalone investment in New Zealand in recent years.
“We believe Waste Management NZ is playing an important role in the transition to a circular economy with the progressive electrification of its collection fleet, the breadth of its resource recovery capabilities and the high level of gas capture in its landfills; the source of which is used to generate electricity for over 24,000 homes,” said Gavin Kerr, head of transactions for Australia and New Zealand. Kerr added that the acquisition also aligns with
