, which has doubled earnings in the three years since it bought a majority stake from Adexum Capital.Next Capital partner Bing Jiang, who leads the investment for the firm, has mandated Stanton Road Partners to run a targeted sale process. Flyers and early due diligence materials are in front of potential bidders.
The team has ruled off more than 5000 projects over the past two decades, working for clients ranging from AGL Energy to local councils and specialising in complex remediation jobs, especially those involving per- and polyfluoroalkyl substances, known as PFAS. Competitors include ASX-listed Ventia Services Group, a solid performer since its float in late 2021.
The firm’s recovery infrastructure includes a thermal treatment plant for highly contaminated soil. Its flagship SOLVE site in Melbourne’s Altona can handle PFAS contaminated liquids. Accounts filed with the regulator show Enviropacific Services Limited made $231.1 million underlying revenue and $27 million underlying EBITDA for the 2023 financial year, an increase of 15.8 per cent and 22.7 per cent respectively over the previous year. It had a busy year, completing soil storage expansion works at the Altona Waste Facility, and beginning construction at the country’s first acetylene recycling facility in Victoria.
Source: News Formal (newsformal.com)
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