Irish and UK waste management firm Enva acquired by I Squared Capital

With sites across eight Irish locations, Enva employs more than 1,600 people in total

Serving more than 20,000 customers across industrial, energy and automotive industries, Enva focuses on waste streams with complex regulatory characteristics

UK and Irish waste management company, Enva with locations across Cork, Dublin, Clare, Meath and Laois has been acquired by investment manager I Squared Capital for an undisclosed amount.

Operating across 34 facilities, Enva was born out of the 2017 acquisition by Exponent Private Equity and others of the Environment Division of DCC Plc, the Irish-based company listed in the FTSE100, with the company growing to employ more than 1,600 people.

Serving more than 20,000 customers across industrial, energy and automotive industries, the company focuses on waste streams with complex regulatory characteristics that require specialised licensing and expertise.

In 2021, Enva was involved in the redevelopment of the former Irish Steel plant in Cork Harbour into a public area, with the Haulbowline Amenity Park now featuring a 22-acre amenity and recreational site.

Speaking on the acquisition, Tom Walsh, CEO at Enva, said: “Since partnering with Exponent, Enva has acquired a range of synergistic businesses and brought on a strong bench of talented managers. This has allowed us to develop our proposition and I am delighted to begin the next step on our journey with I Squared Capital.”

Aiming to diversify its portfolio, its acquirer, global infrastructure manager, I Squared Capital has invested in waste management and treatment companies across Europe, Asia, Australia and the Americas, including US-based VLS Environmental Solutions and Australia-based Soilco, as well as an industrial-waste-to-energy plant in Taiwan and multiple wastewater treatment facilities in China.

Headquartered in Miami, Florida, the firm has more than $37bn in assets under management, with more than 215 professionals across its offices in Miami, Hong Kong, London, New Delhi, Singapore, Taipei, and Sydney. So far, the firm has invested in 72 companies across 59 countries.