Investing in a leading waste management, recycling and resource recovery business
Deal size, May 2017
Enva is a recycling and resource recovery business with over 1,600 employees across its 34 operational facilities in the UK and Ireland. It provides a range of services to customers in the industrial, commercial, construction and public sectors, with a particular focus on managing hazardous and specialist waste.
Enva was created in 2017 through a carve-out of the Environmental Division of DCC Plc, the Ireland based FTSE 100 company. Exponent partnered with the incumbent team, led by CEO Tom Walsh, alongside our Exponent Chair Niall Wall who was previously CEO of Ardagh Group for more than 10 years.
We were attracted to Enva Group by the leading position each of the divisions have built in their respective markets, their differentiated service offerings and the strong relationships they enjoy with a broad customer base.
Over the course of our ownership we supported Enva to grow organically and through market consolidation, having completed 10 add on transactions since acquiring the business, including Rilta which created the clear #1 player in its market across the Republic of Ireland and Northern Ireland. In addition, Exponent drove the development of a market leading sustainability proposition, including significant investment in new and upgraded waste recovery solutions that are today used by Enva’s customers to help achieve their sustainability goals while maximising the recovery of waste for use in the development of valuable secondary materials. See link here to Enva’a third sustainability report, which you can access here SR22 Sustainability Report (adobe.com)
The business became a leading, diversified resource recovery player operating across the UK and Ireland and was sold to I Squared Capital in June 2023.