- It has acquired SUMA’s Industrial Treatment business, with a presence in Central and Northern Portugal
- It has signed a binding agreement to acquire Carmona, with assets in Central and Southern Portugal
- Portugal becomes the second-largest market for Urbaser Industrial Solutions
Madrid, 9th of January 2024. Urbaser has recently completed the purchase of SUMA’s Industrial Treatment business. The transaction was carried out through an asset exchange. As part of the transaction, Urbaser has transferred to its partner in SUMA, Mota-Engil, its minority stake in the rest of SUMA’s businesses1. The acquired business has a strong presence in oil treatment in Portugal.
In addition to the SUMA transaction, Urbaser has also signed binding agreements to acquire 100% of Carmona. Carmona is an environmental services company for industrial clients engaged in the collection and treatment of waste and the sale of recycled by-products. The company operates a flagship plant in the southern Lisbon area with a treatment capacity of nearly 180 thousand tonnes/year. The completion of the transaction is subject to the fulfilment of certain customary regulatory and negotiation conditions associated with these kinds of operations.
The industrial assets of SUMA and Carmona are complementary, in business and geographic terms, with each other in Portugal and also with the businesses of Urbaser Industrial Solutions in Spain. With these transactions, Portugal would become the second largest market in terms of business volume for Urbaser Industrial Solutions.
“These operations allow us to reinvest capital in a business and in a market with great growth prospects”, stated Urbaser CEO, Fernando Abril-Martorell. “Portugal becomes a relevant market for us in which to expand the activities of Urbaser Industrial Solutions, adding value for our clients in both countries”.
