Séché Environnement to buy Singapore’s ECO for $605m

Séché expands its presence in Southeast Asia’s hazardous industrial waste market.

French industrial group Séché Environnement is set to acquire Singapore-based hazardous waste company ECO Industrial Environmental Engineering for $605m.

Séché has signed a share purchase agreement to buy ECO from Beijing Capital Eco-Environment Protection Group Co., Ltd, subject to shareholders’ approval, according to an announcement on 17 June.

The firm expects the acquisition to position the group as a leader in the dynamic hazardous industrial waste markets of Southeast Asia. 

The deal is also expected to strengthen Séché’s growth and profitability prospects, leveraging on ECO’s leadership in Singapore’s hazardous waste recovery and treatment markets where it currently has a market share of 32%. 

ECO’s services range from collection, transportation, recovery and treatment of hazardous waste in the city-state. The firm booked $96m in sales last year and an adjusted EBITDA of $41m.

The total consideration of $605m will be financed through a committed financing from a bank. BNP Paribas served as a financial advisor while Latham & Watkins acted as a legal advisor for the transaction.