(AOF) – Séché Environnement announced the signing of a SPA (share purchase agreement) with a view to the acquisition of Eco Industrial Environmental Engineering Pte Ltd, a player in the hazardous industrial waste market in Singapore. The French group cites a purchase price of around 605 million Singapore dollars (417 million euros), the financing of which has already been ensured by a credit facility committed to a bank. In 2023, Eco generated revenue of approximately S$96 million and adjusted Ebitda of approximately S$41 million.
Nearly 80% of the company’s turnover was generated from the recovery and treatment of hazardous waste and 10% from the treatment of sewage sludge from Singapore’s water recycling plants.
Its facilities have a total annual capacity of nearly 440 Kt.
“With the widest range of products and services, a loyal clientele of leading industrialists and a high-performance industrial tool, Eco will allow Séché to occupy a major position in a dynamic industrial region where the group was until so not very active”, explains the buyer.
This acquisition is fully in line with Séché’s ambition to support its main industrial customers in the dynamic markets for hazardous industrial waste in South-East Asia.
This accretive acquisition strengthens the group’s growth and profitability prospects.
This acquisition is subject to the favorable vote of the extraordinary general meeting of shareholders of Beijing Capital Eco-Environment Protection Group Co.
In the event of a favorable vote, this acquisition would be carried out through a Singaporean acquisition company Séché Holdings (SG) Pte. Ltd.
Present since 1995 across the entire value chain of the hazardous waste sector and holding a market share of around 32%, Eco is today the leading operator on the hazardous waste recovery and treatment markets in Singapore.
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