has expanded its waste management platform with the acquisition of a majority stake in German-headquartered Neumann Group.
The global infrastructure manager is acquiring the stake in the incinerated bottom ash (IBA) recycling platform through its latest European diversified infrastructure strategy for an undisclosed sum.
Following the transaction, Neumann鈥檚 chief executive and co-owner, Andr茅 Hartl, and the existing management team will retain a minority shareholding alongside .
Neumann provides services to energy-from-waste operators, whose facilities rely on the continuous removal and treatment of IBA.
Gregor Kurth, partner at Igneo, said: 鈥淥ur investment in Neumann Group is strongly aligned with Igneo鈥檚 strategy of partnering with high-quality infrastructure businesses that deliver critical services and can benefit from long-term structural growth trends. Neumann Group holds a market-leading position in an attractive and sustainable growth segment and is underpinned by long-standing customer relationships, strong technical expertise and a highly developed infrastructure platform.
鈥淏uilding on the strong foundations established by Heiko Neumann and his family, we look forward to working with Andr茅 and his team to support the next phase of growth and further strengthen Neumann Group鈥檚 role in advancing the circular economy.鈥�
Hartl said: 鈥淣eumann Group has evolved into a leading European provider of IBA recycling services, supporting customers across multiple markets throughout Europe.
鈥淭ogether with Igneo, we have a strong partner to drive the next phase of our growth, further strengthen our market position and expand into new geographic regions.鈥�
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