Refinancing of Ballast Phoenix for acquisition by Waterland PE

Deal Summary

Advised Waterland Private Equity Investments on the refinancing of Ballast Phoenix to support its acquisition of the business from H2 Equity Partners and its ongoing growth. A debt package was provided by Lloyds Banking Group and Alberta Investment Management Corporation (AimCo).

Ballast Phoenix (now The Blue Phoenix Group) processes and recycles the ashes and ferrous and non-ferrous metals produced by energy from waste plants (EfW) during the incineration process. It creates sustainable aggregates and recycled metals, thus avoiding any requirement for the use of landfill.

The business has evolved into a global player with more than 20 ash treatment facilities and is a provider of integrated solutions to many waste processing companies. In June 2022, InfraVia Capital Partners acquired a majority stake in the business.

The Headpoint team have experience in the waste management industry and circular economy and worked closely with Waterland Private Equity on several waste industry projects.