28 May, 2024
Astatine Investment Partners

Astatine Investment Partners Acquires NRG Riverside to Lead the Transition to Zero Emission Vehicles

Astatine Investment Partners (“AIP” or “Astatine”), formerly known as Alinda Capital Partners, is a prominent private equity firm with a strong focus on infrastructure investments. Established with the vision to support and grow essential services, Astatine has consistently demonstrated its commitment to investing in companies that drive innovation and sustainability. The firm’s latest strategic move involves the acquisition of NRG Riverside, the United Kingdom’s foremost rental provider of specialist waste collection vehicles. This acquisition, managed through Astatine’s funds, marks a significant milestone in the firm’s investment portfolio, taking over the reins from Palatine and other shareholders.

Strategic Acquisition and Growth Vision

The acquisition of NRG Riverside is a testament to Astatine’s strategic vision for growth and innovation. Jim Metcalfe, CEO and Co-Managing Partner of Astatine, expressed his enthusiasm about the acquisition, highlighting the potential for future growth and sustainability. “We are delighted to acquire NRG Riverside and look forward to working alongside the management team in delivering the next phase of growth, including supporting customers in their transition to zero emission vehicles,” stated Metcalfe. This statement underscores Astatine’s commitment to not only growing its investment portfolio but also contributing to the broader goal of environmental sustainability.

Ben Catt, Partner of Astatine and Head of European Investments, further elaborated on the rationale behind the acquisition. “The Company is the clear market leader in this space, servicing customers in the provision of an essential service. We are attracted by the high levels of contracted and recurring revenues, growth prospects in waste and adjacent sectors, and the strong reputation of the business,” he remarked. Catt’s insights highlight the strategic importance of NRG Riverside within Astatine’s investment framework, emphasising the company’s robust market position and potential for future growth.

NRG Riverside’s Future with Astatine

Darren Powell, CEO of NRG Riverside, shared his excitement about the new partnership with Astatine. “We are excited to be partnering with Astatine on the next chapter of NRG Riverside’s growth journey,” said Powell. He conveyed confidence about the future, outlining a clear plan for growth and the strengthening of their leadership team. “With recent internal promotions to further strengthen our experienced leadership team, we continue to offer the best customer-led experience from initial enquiry to vehicle delivery and future renewal,” Powell added. This focus on customer experience and leadership development is pivotal for NRG Riverside as it embarks on its next phase of growth.

Supporting the Transition to Net Zero Emissions

One of the most significant aspects of this acquisition is the shared vision of supporting the transition to net zero emissions. The collaboration between Astatine and NRG Riverside is poised to make substantial contributions to environmental sustainability. Powell underscored the importance of their customer relationships in achieving this goal, stating, “The growing relationships with our customers and their operations mean we are also well placed to support the important transition to net zero emissions.” This emphasis on sustainability aligns with global efforts to reduce carbon footprints and foster greener, more efficient waste management solutions.

Expert Guidance and Strategic Partnerships

The successful acquisition of NRG Riverside by Astatine was facilitated by a team of expert advisors, ensuring a thorough and strategic process. Legal counsel was provided by Hogan Lovells, a firm renowned for its expertise in handling complex transactions. Financial and tax diligence was managed by Alvarez & Marsal, who brought their extensive knowledge and experience to the table. Additionally, Roland Berger conducted the commercial due diligence, ensuring that every aspect of the acquisition was meticulously evaluated. This collaborative effort underscores the importance of strategic partnerships in executing successful acquisitions.

A New Era for NRG Riverside

The acquisition of NRG Riverside by Astatine Investment Partners heralds a new era for the UK’s leading rental provider of specialist waste collection vehicles. With the support of Astatine, NRG Riverside is set to embark on an ambitious growth trajectory, enhancing its market position and expanding its service offerings. This partnership is not only a significant milestone for both companies but also a crucial step towards achieving greater sustainability in the waste collection sector.