Attero

Established: 1929

Country: Netherlands

Region: Gelderland

Investors: 3i Infrastructure plc

Attero is the leading operator in the Dutch waste treatment and recycling market. It owns two of the largest and most efficient energy-from-waste plants in Western Europe, anaerobic digestion plants for biomethane production, composting facilities, mineral recycling and depository locations, post-separation installations and plastic recycling capacity that recycles up to 25,000 tonnes of used plastic per year into high-quality granulates.

Attero processes c.3.6 million tonnes of waste every year, producing c.900 gigawatt-hours of electricity powering c.363,000 households, c.25 million cubic metres of green gas, c.318,000 tonnes of compost and more than c.700,000 tonnes of other recycled materials.

EBITDA since initial investment

120MW

new turbine capable of producing enough electricity in 1 hour to power a household for 25 years

25k

tons used plastic annually recycling capacity in newly invested plastics recycling plant

3i Infrastructure has provided valuable support to the management team in delivering on our growth strategy and implementing a highly attractive financing package for the business. They were also a very supportive partner during COVID when the macroeconomic environment became quite volatile. Finally, we share the same values when it comes to the importance of a strong health and safety culture and finding ways to deliver strong sustainability outcomes along with attractive financial returns.

Key achievements

Invested in a new, market-leading plastics recycling plant that can recycle 25,000 tonnes of used plastic every year
Invested in the renovation of composting sites to deliver c.20 million m3 of biogas and biomethane per year
Supported Attero in installing and financing solar farms on closed landfill sites
Supported Attero to diversify its sources of waste imports
Advised Attero on its debt refinancing into long-term, investment grade, portable debt before the interest rate cycle turned

Funding history

3i Infrastructure acquired its interest in Attero in 2018, alongside co-investor DWS.
In November 2023, Ardian Infrastructure purchased 100% of Attero from 3i Infrastructure and its co-investors (funds managed by DWS (c.50%), and other funds managed by 3i Investments plc (c.25%)), generating net proceeds of €215 million for 3i Infrastructure’s 25% stake, a 23% net IRR and 2.7x net money multiple.