The Overseas Investment Office has approved the sale of the Waste Management New Zealand business to Igneo Infrastructure Partners.
Managing director Evan Maehl says it’s an exciting time for the Waste Management business, with Igneo supportive of Waste Management’s strategic ambition to be New Zealand’s leader in materials and energy recovery.
Waste Management is New Zealand’s largest composter, collects a quarter of the country’s recycling and operates one of the largest EV fleets in Australia and New Zealand.
Igneo owns many high-quality infrastructure companies across Europe, Australia, New Zealand and North America and has a strong focus on environmental, social and governance (ESG) performance.
Waste Management NZ represents the third standalone investment made by Igneo in New Zealand in recent years, with other investments including First Gas – a natural gas transmission, storage and distribution business; and Tuatahi First Fibre – the second largest fibre-to-the-premises broadband network.
Maehl says while the team is excited about what the future holds, it is business as usual at Waste Management New Zealand.
“The change of ownership will not affect our commitment to delivering the highest quality, sustainable waste management solutions to our customers.”
Waste Management’s EV fleet of 26 collection trucks travelled more than 320,000km and saved 275 tonnes of CO2 in 2021.
It has collected more than 75,000 tonnes of recycling, recycled at least 12,000 tonnes of old tyres into a high energy replacement for coal, and turned more than 100,000 tonnes of food and garden waste into compost.
Waste Management has the capacity to power 25,000 homes with renewable energy converted from biogas capture at its landfills.
