Veolia has announced that its subsidiary, Veolia North America, has reached an agreement to sell Veolia North America Regeneration Services, which encompasses its sulfuric acid and hydrofluoric acid regeneration operations for refineries, to the private equity firm American Industrial Partners.
The enterprise value of the deal is USD 620 million, with these operations generating approximately USD 350 million in revenue in 2023. The transaction is anticipated to close in the coming days.
“This sale aligns with our strategy of consistently refining our asset portfolio according to the strategic goals of our GreenUp plan, while upholding strict financial discipline. The sulfuric acid regeneration sector in the U.S. is not a primary focus for us and lacks synergies with our main operations. Selling these assets will allow us to generate value and direct our investments towards the key components of the GreenUp strategic plan,” stated Estelle Brachlianoff, CEO of Veolia.
Source :Veolia
