Tag: PR Newswire

HYDERABAD, India, Feb. 12, 2026 /PRNewswire/ — According to Mordor Intelligence, the cooling tower market size is expected to grow from USD 4.59 billion in 2026 to nearly USD 5.89 billion by 2031, registering a CAGR of 5.09%. Market growth is being driven by fresh investments in power generation and the rapid expansion of large-scale data centers that require high-capacity cooling solutions. At the same time, stricter regulations on water usage and energy efficiency are accelerating demand for hybrid wet–dry systems, counterflow designs, and larger installations above 20 MW. The transition toward PFAS-free materials, along with the adoption of digital technologies such as predictive maintenance and smart monitoring, is further strengthening the competitive advantage of suppliers focused on sustainability and operational efficiency.

Trends Influencing Cooling Tower Market Growth

Expansion of Power Generation Across Asia and the Middle East

Power producers across Asia and the Middle East are adding new generation assets that demand robust cooling infrastructure. Counterflow towers are widely selected to handle fluctuating thermal loads from nuclear, gas, and hybrid renewable plants. Coastal facilities are leaning toward seawater-based cooling to reduce pressure on freshwater resources, while integrated heat-recovery concepts are improving overall plant economics. These trends are reinforcing the role of advanced cooling towers in modern utility-scale projects.

Tightening Rules on Water and Energy Management

Stricter environmental and health regulations are accelerating upgrades to existing cooling tower systems. Facility owners are investing in improved fill designs, automation, and chemical control to meet higher efficiency and safety expectations. Concerns around plume control and water quality are also steering adoption toward closed-loop and hybrid configurations. In response, manufacturers are focusing on independent performance validation and new material innovations to stay ahead of regulatory demands.

For a full breakdown of market size, segmentation data, and competitive intelligence, access the details of the Mordor Intelligence report: https://www.mordorintelligence.com/industry-reports/cooling-tower-market?utm_source=prnewswire 

Cooling Tower Market Segment Outlook

By Flow Type

• Cross-Flow
• Counter-Flow

By Tower Type

• Evaporative
• Dry
• Hybrid (Wet–Dry)

By Capacity Range

• Below 5 MW
• 5 to 20 MW
• Above 20 MW

By Application

• Oil and Gas
• Chemical and Petrochemical
• Power Generation
• HVACR (Commercial Buildings)
• Data Centers
• Pulp and Paper
• Food and Beverage
• Others

By Geography

• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa

Cooling Tower Market Regional Overview

In North America, growth is tied to expanding data-center hubs and modernization projects in the refining sector, with buyers prioritizing low-drift and environmentally compliant systems. Europe is seeing steady adoption through district energy projects that rely on hybrid configurations to manage seasonal demand while conserving water.

Across the Middle East and Africa, water scarcity is accelerating the shift toward dry and seawater-based towers linked to solar and desalination facilities. South America’s activity remains centered on heavy industrial zones, where large counter-flow systems are preferred for their ability to perform under harsh operating conditions.

Cooling Tower Companies:

• SPX Technologies, Inc.
• Baltimore Aircoil Company, Inc.
• EVAPCO, Inc.
• Johnson Controls International plc
• Hamon and CIE (John Cockerill SA)
• Brentwood Industries, Inc.
• Babcock & Wilcox Enterprises, Inc.
• ENEXIO Management GmbH
• Thermax Ltd.
• Artech Cooling Towers Pvt. Ltd.
• Kelvion Holding GmbH
• Paharpur Cooling Towers Ltd.
• Liang Chi Industry Co., Ltd.
• Star Cooling Towers Pvt. Ltd.
• Delta Cooling Towers, Inc.
• Reymsa Cooling Towers, Inc.
• SPIG S.p.A. (Babcock & Wilcox)
• Kimre, Inc.
• Mesan Group

Check out related reports published by Mordor Intelligence: 

Air Compressor Market Size: Air compressor market report is segmented by operating principle, technology, portability, cooling method, power rating, end-use industry, and regional markets across North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.

Cryogenic Pump Market Share: Cryogenic pump market report is categorized by pump type, cryogenic gas handled, end-use industry, and regional coverage across North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.

Electric Motor Market Trends: Electric motor market report is segmented by motor type, power rating, voltage level, application area, end-use industry, and regional markets spanning North America, Europe, Asia-Pacific, South America, and the Middle East & Africa

About Mordor Intelligence: 

Mordor Intelligence is a trusted partner for businesses seeking comprehensive and actionable market intelligence. Our global reach, expert team, and tailored solutions empower organizations and individuals to make informed decisions, navigate complex markets, and achieve their strategic goals. With a team of over 550 domain experts and on-ground specialists spanning 150+ countries, Mordor Intelligence possesses a unique understanding of the global business landscape. This expertise translates into comprehensive syndicated and custom research reports covering a wide spectrum of industries, including aerospace & defense, agriculture, animal nutrition and wellness, automation, automotive, chemicals & materials, consumer goods & services, electronics, energy & power, financial services, food & beverages, healthcare, hospitality & tourism, information & communications technology, investment opportunities, and logistics.    

For any inquiries, please contact:
media@mordorintelligence.com
https://www.mordorintelligence.com/contact-us

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SOURCE Mordor Intelligence Private Limited

ROCHESTER, N.Y., Feb. 12, 2026 /PRNewswire/ — Rochester Midland Corporation (“Rochester Midland”), a leading provider of route-based, technical services and specialty chemical products across water treatment, food safety and other verticals, today announced that it has acquired Solid Blend Technologies, Inc. (“Solid Blend”), a water management and environmental solutions provider based in Dayton, OH.

Founded in 1999, Solid Blend utilizes innovative solid chemistry solutions to treat scale, corrosion and microbiological concerns in cooling towers, boilers and closed loop systems. Solid Blend provides its mission-critical water safety services to healthcare facilities, federal government agencies and assisted living communities, ensuring regulatory compliance through customized water management programs.

Jim White, CEO of Rochester Midland, commented, “We are elated to welcome Solid Blend to the Rochester Midland team. This acquisition is a perfect fit for our U.S. water business, as it grows our presence in the Midwest, expands our use of differentiated solid chemistry solutions and adds additional water safety expertise within healthcare.”

Lois and Ken Elrich, Co-Founders of Solid Blend, commented, “We are excited to join Rochester Midland’s preeminent water treatment platform. Their extensive capabilities and resources will allow us to service our customers to an even higher degree.”

Jim White, CEO of Rochester Midland, added, “We continue to seek additional partnership opportunities with like-minded businesses to enhance our world-class water treatment platform with differentiated and value-added capabilities for our customers.”

ABOUT ROCHESTER MIDLAND

Founded in 1888, Rochester Midland is a leading provider of route-based, technical services and specialty chemical products across water treatment, food safety and other verticals. With numerous facilities across North America and Europe, Rochester Midland provides unparalleled solutions and service to its blue-chip customer base. For more information on Rochester Midland, visit us online at www.rochestermidland.com.

Media Contact:
Daniel Yunger
Kekst CNC
(212) 521-4800
daniel.yunger@kekstcnc.com

View original content:https://www.prnewswire.com/news-releases/rochester-midland-corporation-acquires-solid-blend-technologies-inc-302686476.html

SOURCE Rochester Midland Corporation

The creator and food brand join forces to deliver a culturally driven collaboration rooted in authenticity and connection

LOS ANGELES, Feb. 12, 2026 /PRNewswire/ — Popular content creator N3on has officially partnered with Doich Foods in a new brand deal that brings together digital culture, community influence, and bold food innovation. The partnership marks a strategic alignment between one of the internet’s most talked-about personalities and a food brand known for its culturally rooted approach and loyal following.

As part of his new partnership with Doich Foods, N3on spent Tuesday, February 10, on the ground across Los Angeles personally handing out meals to unhoused individuals throughout the community, taking time to speak with people and hear their stories before ultimately delivering a larger food donation to a local shelter. The day of service highlighted N3on’s hands-on approach to giving back and reinforced the collaboration’s shared commitment to culture, connection, and supporting communities in real, tangible ways.

Through the collaboration, N3on will work closely with Doich Foods, tapping into his highly engaged audience to spotlight the brand in an authentic, personality-driven way. The partnership reflects a shared commitment to creativity, culture, and meeting audiences where they already are: online and in real life.

“Doich Foods is a brand that actually understands culture and community, which made this partnership feel natural,” said N3on. “I’m excited to work together on something that my audience can really connect with.”

Founded on the belief that food is a cultural connector, Doich Foods has built a reputation for blending flavor, identity, and storytelling. Partnering with N3on allows the brand to expand its reach while staying true to its roots.

For more information, visit http://www.doichfoods.com/n3on and follow @N3on and @DoichFoods on social media.

About N3on
N3on is a digital creator and streamer known for his high-energy content, unfiltered personality, and massive online following across platforms. Rising to prominence through live streaming and viral moments, N3on has built a highly engaged audience by blending entertainment, culture, and real-time interaction. As one of the most talked-about creators of his generation, N3on continues to shape internet culture while partnering with brands that authentically resonate with his community.

About Doich Foods
Doich Foods is a culturally driven food brand focused on bold flavors, authenticity, and community connection. Rooted in culture-first storytelling, the brand blends food, identity, and lifestyle to create products and experiences that resonate with today’s consumers. Known for its loyal following and innovative approach, Doich Foods continues to expand its footprint by collaborating with creators and partners who reflect its values and cultural relevance.

Contact
Tiffany Cummins
Talent Resources
925-212-4200
409109@email4pr.com

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SOURCE Doich Foods

The creator and food brand join forces to deliver a culturally driven collaboration rooted in authenticity and connection

LOS ANGELES, Feb. 12, 2026 /PRNewswire/ — Popular content creator N3on has officially partnered with Doich Foods in a new brand deal that brings together digital culture, community influence, and bold food innovation. The partnership marks a strategic alignment between one of the internet’s most talked-about personalities and a food brand known for its culturally rooted approach and loyal following.

As part of his new partnership with Doich Foods, N3on spent Tuesday, February 10, on the ground across Los Angeles personally handing out meals to unhoused individuals throughout the community, taking time to speak with people and hear their stories before ultimately delivering a larger food donation to a local shelter. The day of service highlighted N3on’s hands-on approach to giving back and reinforced the collaboration’s shared commitment to culture, connection, and supporting communities in real, tangible ways.

Through the collaboration, N3on will work closely with Doich Foods, tapping into his highly engaged audience to spotlight the brand in an authentic, personality-driven way. The partnership reflects a shared commitment to creativity, culture, and meeting audiences where they already are: online and in real life.

“Doich Foods is a brand that actually understands culture and community, which made this partnership feel natural,” said N3on. “I’m excited to work together on something that my audience can really connect with.”

Founded on the belief that food is a cultural connector, Doich Foods has built a reputation for blending flavor, identity, and storytelling. Partnering with N3on allows the brand to expand its reach while staying true to its roots.

For more information, visit http://www.doichfoods.com/n3on and follow @N3on and @DoichFoods on social media.

About N3on
N3on is a digital creator and streamer known for his high-energy content, unfiltered personality, and massive online following across platforms. Rising to prominence through live streaming and viral moments, N3on has built a highly engaged audience by blending entertainment, culture, and real-time interaction. As one of the most talked-about creators of his generation, N3on continues to shape internet culture while partnering with brands that authentically resonate with his community.

About Doich Foods
Doich Foods is a culturally driven food brand focused on bold flavors, authenticity, and community connection. Rooted in culture-first storytelling, the brand blends food, identity, and lifestyle to create products and experiences that resonate with today’s consumers. Known for its loyal following and innovative approach, Doich Foods continues to expand its footprint by collaborating with creators and partners who reflect its values and cultural relevance.

Contact
Tiffany Cummins
Talent Resources
925-212-4200
409109@email4pr.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/n3on-teams-up-with-doich-foods-in-new-brand-partnership-bridging-culture-community-and-food-302685894.html

SOURCE Doich Foods

KEY 2026 – the Italian Exhibition Group event will be held at the Rimini Exhibition Center from March 4th to 6th with 1,000 exhibiting brands, 32% of which are international.
Europe is at the center of the global energy future; Africa is also a key player.

RIMINI, Italy, Feb. 12, 2026 /PRNewswire/ — Italian Exhibition Group (IEG) returns to the global energy transition scene with KEY – The Energy Transition Expo 2026, at the Rimini Exhibition Center from March 4th to 6th, dedicated to energy market operators and stakeholders.

Of the 1,000 exhibiting brands, a full 32% will be international, with companies from 30 countries and 500 hosted buyers and delegations from 50 countries, thanks to the collaboration with the ITA Agency and the Ministry of Foreign Affairs and International Cooperation (MAECI). A Japanese delegation will also be present, as part of the hydrogen partnership with Italy.

As Alessandra Astolfi, Global Exhibition Director of IEG’s Green & Technology Division, explains: “We position ourselves as the European reference platform for the energy transition at a global level. This year, KEY takes a step forward, both in terms of participation and in the scope and quality of its content. We intend to bring the center of gravity of a strategic exchange that is crucial for our future back to Europe, enhancing the skills and technologies of our companies and highlighting our excellence, with the ultimate goal of contributing to strengthening the competitiveness of the European industrial and manufacturing system”.

In addition to finance, the event will showcase seven product categories, organized in 24 halls covering 125,000 square meters, confirming the diversification and comprehensiveness of the exhibition offering. Solar, wind, hydrogen, energy efficiency, energy storage systems, electric mobility, and sustainable cities are the seven represented sectors.

150 events are scheduled with a theme that will serve as a common thread throughout the event: finance in support of the energy transition, with new investment models in renewables and efficiency and innovative solutions for controlling energy costs and reducing bills.

Another important focus will be Africa. KEY will bring together European and African businesses, institutions, and investors to foster collaboration and strengthen cooperation. The new Africa Investment HUB area, dedicated to networking and business meetings, will host African industry associations from Egypt, Algeria, Morocco, Tunisia, Ivory Coast, Senegal, and South Africa.

Photo – https://mma.prnewswire.com/media/2902899/Alessandra_Astolfi.jpg
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SOURCE IEG – Italian Exhibition Group SpA

KEY 2026 – the Italian Exhibition Group event will be held at the Rimini Exhibition Center from March 4th to 6th with 1,000 exhibiting brands, 32% of which are international.
Europe is at the center of the global energy future; Africa is also a key player.

RIMINI, Italy, Feb. 12, 2026 /PRNewswire/ — Italian Exhibition Group (IEG) returns to the global energy transition scene with KEY – The Energy Transition Expo 2026, at the Rimini Exhibition Center from March 4th to 6th, dedicated to energy market operators and stakeholders.

Of the 1,000 exhibiting brands, a full 32% will be international, with companies from 30 countries and 500 hosted buyers and delegations from 50 countries, thanks to the collaboration with the ITA Agency and the Ministry of Foreign Affairs and International Cooperation (MAECI). A Japanese delegation will also be present, as part of the hydrogen partnership with Italy.

As Alessandra Astolfi, Global Exhibition Director of IEG’s Green & Technology Division, explains: “We position ourselves as the European reference platform for the energy transition at a global level. This year, KEY takes a step forward, both in terms of participation and in the scope and quality of its content. We intend to bring the center of gravity of a strategic exchange that is crucial for our future back to Europe, enhancing the skills and technologies of our companies and highlighting our excellence, with the ultimate goal of contributing to strengthening the competitiveness of the European industrial and manufacturing system”.

In addition to finance, the event will showcase seven product categories, organized in 24 halls covering 125,000 square meters, confirming the diversification and comprehensiveness of the exhibition offering. Solar, wind, hydrogen, energy efficiency, energy storage systems, electric mobility, and sustainable cities are the seven represented sectors.

150 events are scheduled with a theme that will serve as a common thread throughout the event: finance in support of the energy transition, with new investment models in renewables and efficiency and innovative solutions for controlling energy costs and reducing bills.

Another important focus will be Africa. KEY will bring together European and African businesses, institutions, and investors to foster collaboration and strengthen cooperation. The new Africa Investment HUB area, dedicated to networking and business meetings, will host African industry associations from Egypt, Algeria, Morocco, Tunisia, Ivory Coast, Senegal, and South Africa.

Photo – https://mma.prnewswire.com/media/2902899/Alessandra_Astolfi.jpg
Logo – https://mma.prnewswire.com/media/2902898/IEG_logo.jpg

View original content to download multimedia:https://www.prnewswire.com/news-releases/italy-trade-shows-key-2026-technologies-and-innovations-for-clean-energy-in-rimini-302686389.html

SOURCE IEG – Italian Exhibition Group SpA

AUSTIN, Texas, Feb. 12, 2026 /PRNewswire/ — With early voting for the March 3 Texas primary election beginning Tuesday, February 17, Texas Secretary of State Jane Nelson encourages voters to review official election information in advance so they can arrive at the polls prepared and confident.

Election officials say understanding how the primary process works and relying on official information can help ensure a smooth voting experience.

“With millions of Texans registered to vote, our goal is to make sure every voter who wants to participate feels confident in the process,” Secretary Nelson said. “Taking a few minutes to review official election information ahead of time helps voters know exactly what to expect.”

In Texas primary elections, voters do not register with a political party in advance. When voters arrive at a polling location during the primary election, they will be asked in which party’s primary they wish to vote. Election officials say knowing this choice before arriving can help keep lines moving and reduce confusion at the polls.

Early in-person voting runs from February 17 through February 27. During early voting, Texans may cast a ballot at any polling location in their county of registration. Because early voting hours and polling locations can vary, officials recommend checking details when preparing to head to the polls.

Texas continues to grow, and new residents may be moving from other states where election rules differ. Secretary Nelson said checking official sources is the best way for voters, especially those new to Texas, to feel prepared.

“Voting rules can vary from state to state,” Nelson said. “Consulting official information helps voters feel confident about what to bring and how the process works in Texas.”

Voters are reminded that a photo ID is required when voting in person. A complete list of acceptable IDs, along with information for voters who do not possess and cannot reasonably obtain one of the approved forms, is available through official state and county election resources. Texas law prohibits the use of cell phones or other wireless communication devices inside the voting room, though voters may bring written notes or printed sample ballots for reference.

Secretary Nelson emphasized that voters should rely on trusted, official election sources rather than informal or incomplete information.

“Voters can visit VoteTexas.gov to find early voting hours, polling locations, check their registration status, and review ID requirements,” Nelson said. “Official information helps voters cast their ballot with confidence.”

For more information about early voting, voting requirements, or key election deadlines, voters are encouraged to visit VoteTexas.gov or call 1-800-252-VOTE for official assistance.

Media Contact: For access to video assets, please contact Alicia Phillips Pierce, Assistant Secretary of State for Communications, at APierce@sos.texas.gov or visit this link.

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SOURCE Office of the Texas Secretary of State

SHANGHAI, Feb. 12, 2026 /PRNewswire/ — Daqo New Energy Corp. (NYSE: DQ) (“Daqo New Energy” or the “Company”), a leading manufacturer of high-purity polysilicon for the global solar PV industry, today announced it plans to release its unaudited financial results for fourth quarter and fiscal year ended December 31, 2025, before U.S. markets open on Thursday, February 26, 2026.

The Company has scheduled a conference call to discuss the results at 8:00 AM U.S. Eastern Time on Thursday, February 26, 2026 (9:00 PM Beijing / Hong Kong time on the same day).

The dial-in details for the earnings conference call are as follows:

Participant dial in (U.S. toll free): +1-888-346-8982
Participant international dial in: +1-412-902-4272
China mainland toll free: 4001-201203
Hong Kong toll free: 800-905945
Hong Kong local toll: +852-301-84992

Please dial in 10 minutes before the call is scheduled to begin and ask to join the Daqo New Energy call.

Webcast link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=ba7I5r8H

A replay of the call will be available 1 hour after the conclusion of the conference call through March 5, 2026. The dial in details for the conference call replay are as follows:

U.S. toll free: +1-877-344-7529
International toll: +1-412-317-0088
Canada toll free: 855-669-9658
Replay access code: 6386934

To access the replay through an international dial-in number, please select the link below.
https://services.choruscall.com/ccforms/replay.html

Participants will be asked to provide their name and company name upon entering the call.

About Daqo New Energy Corp.

Daqo New Energy Corp. (NYSE: DQ) (“Daqo New Energy”) is a leading manufacturer of high-purity polysilicon for the global solar PV industry. Founded in 2007, the Company manufactures and sells high-purity polysilicon to photovoltaic product manufacturers, who further process the polysilicon into ingots, wafers, cells and modules for solar power solutions. The Company has a total polysilicon nameplate capacity of 305,000 metric tons and is one of the world’s lowest cost producers of high-purity polysilicon.

For more information, please visit www.dqsolar.com 

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SOURCE Daqo New Energy Corp.

HELSINKI, Finland, Feb. 12, 2026 /PRNewswire/ — Stora Enso’s Annual Report and Remuneration Report 2025 are published today at storaenso.com/annualreport. The Annual Report includes a strategic report, corporate governance, Board of Directors’ report including sustainability statement, and financial statements.

Stora Enso publishes its annual financial statements in accordance with the European Single Electronic Format (ESEF) reporting requirements in Finnish. The format of the report is Extensible Hypertext Markup Language (xHTML). In line with the ESEF requirements, the primary financial statements have been labelled with XBRL tags. The audit firm PricewaterhouseCoopers Oy has provided an independent auditor’s report on Stora Enso’s ESEF Financial Statements in Finnish in accordance with ISAE 3000. The ESEF financial statements in Finnish are attached to this release and can be downloaded at storaenso.com/annualreport.

The Sustainability Statement, published as part of the Report of the Board of Directors, is prepared in accordance with the European Sustainability Reporting Standards (ESRS). PricewaterhouseCoopers Oy has provided a level of Limited Assurance, using the ESRS Standards and the requirements of the delegated acts of the Taxonomy Regulation serving as criteria. Additionally, a level of Reasonable Assurance, using the GHG Protocol as criteria, has been provided for Stora Enso’s reporting on direct and indirect greenhouse gas emissions (Scope 1 and 2).

Stora Enso has prepared a voluntary index on the interoperability between the ESRS and the International Sustainability Standards Board’s (ISSB) sustainability disclosure standards IFRS S1 and S2. The index is published as part of the Annual Report. The Group also reports against the SASB Sustainability Accounting Standards for Forest Management and Containers & Packaging, with the report available in the SASB content index.

The Annual Report is attached to this release as an XHTML file and a PDF file. The Annual Report, as well as the audited Financial Statements and the assured Sustainability Statement in Finnish, are available at storaenso.com/annualreport.

Stora Enso is a global leader in renewable materials with a strong focus on packaging. Our purpose is to replace non-renewable materials with renewable solutions. Together with our customers, we design and deliver competitive, high-quality packaging materials and solutions, made from fresh and recycled fibers, accelerating the transition to a circular bioeconomy. In 2025, Stora Enso had approximately 19,000 employees, and the Group sales were EUR 9.3 billion. Stora Enso’s shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R). In addition, the shares are traded in the USA OTC Markets (OTCQX) as ADRs and ordinary shares (SEOAY, SEOFF, SEOJF).

STORA ENSO OYJ

For further information, please contact:
Hanna Rutanen
SVP Communications
Tel. +358 41 507 1361

Investor enquiries:
Jutta Mikkola
SVP Investor Relations
Tel. +358 50 544 6061

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/stora-enso-oyj/r/stora-enso-publishes-its-annual-report-and-remuneration-report-2025,c4306573

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SOURCE Stora Enso Oyj

Sale of Madrid-based environmental infrastructure platform follows multi-year transformation process

LOS ANGELES, Feb. 12, 2026 /PRNewswire/ — Platinum Equity announced today the signing of a definitive agreement to sell Urbaser to Blackstone and EQT in a transaction valued at approximately $6.6 billion (€5.6 billion). The transaction is subject to customary regulatory approvals.

Urbaser is a global integrated environmental infrastructure platform specialized in the collection, management and treatment of municipal and industrial waste. The company serves more than 60 million people across the globe through a network of more than 50,000 employees. Headquartered in Madrid, Spain, Urbaser’s core business comprises three segments: Urban Services (waste collection, street cleaning and water management), Municipal Waste Treatment, and Industrial Waste Treatment.

Platinum Equity acquired Urbaser in October 2021 from China Tianying Inc. for an enterprise value of approximately $4.2 billion (€3.5 billion).

As part of the transaction, Platinum Equity will retain Urbaser’s waste management business in Argentina which has been operating in the region for 30 years and generated approximately $90 million (€80 million) of EBITDA in 2025.

“Over the past years we have worked tirelessly to strengthen the business, simplify its structure, and unlock its potential as a true environmental infrastructure platform,” said Louis Samson, Co‑President of Platinum Equity. “With a seasoned management team in place alongside a focused strategic plan, the company has all the tools necessary for continued success in the next phase of its journey.”

Igor Chacartegui, Managing Director at Platinum Equity, said: “The transformation of Urbaser demonstrates the power of our M&A&O approach and the strength of our on-the-ground capabilities in Spain and in Europe. Urbaser has delivered strong financial performance, the result of a multi‑year transformation driven by organic growth initiatives, operational improvements, and very active and hands-on portfolio optimization. The volume and complexity of the work we did together is hard to describe but we believe the results speak for themselves.”

Highlights of the transformation include:

• €1.6 billion invested over the past five years in a combination of capex and M&A
• Executed 20 add-on acquisitions
• Divested 13 non-core divisions and other assets
• Increased revenue by more than 60 percent and EBITDA by 70 percent since 2020, including double digit growth in every geography of presence
• Grew municipal and industrial waste treatment segments, emphasizing opportunities for above‑market growth, contracted long-term cash flows and attractive returns on invested capital
• Increased backlog by €3.0 billion to over €15 billion of revenues
• Onboarded a new executive leadership team led by current Urbaser CEO Fernando Abril-Martorell
• Significant reinforcement of ESG related areas as key strategic pillar

“Platinum Equity’s partnership has been instrumental to our success,” said Urbaser CEO Abril‑Martorell. “Their operational and capital allocation support as well as strategic guidance helped sharpen our focus and enhance the efficiency and profitability of the business. We are proud of what we have achieved together.”

The sale of Urbaser follows a recent refinancing of its capital structure that included a portability feature for its senior debt and a cross-border PIK holdco structure, both novel terms in the European financing market

“We pride ourselves in not only using the latest capital markets technology but also in pushing new frontiers and developing forward-leaning solutions,” said Samson. “This is another example of creative and innovative structuring that brings tangible value to the buyer and ultimately to the transaction.”

Samson added: “The transformation of Urbaser underscores the depth of our European investment capabilities and the power of the resources we’ve put in place across Europe and in the Iberian Peninsula. We’ve built real momentum there, and this is another important milestone in our long-term commitment to the region.”

Platinum Equity’s current European portfolio includes a dozen companies spanning across from the UK, Germany, Italy, France, the Netherlands and Spain and includes the recent acquisitions of Solo Group and XD Connects, pan-European suppliers of custom-branded merchandise and promotional goods; and Sunrise Medical, a leader in assisted mobility solutions.

Citi and Santander are serving as financial advisors to Platinum Equity on the sale of Urbaser. Latham & Watkins LLP is serving as the firm’s legal counsel.

About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $50 billion of assets under management and a portfolio of approximately 60 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O^® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 30 years Platinum Equity has completed more than 550 acquisitions.

About Urbaser:
Urbaser is one of the world leaders in environmental solutions, a global company focused on enhancing the value of the planet’s resources to build a more sustainable tomorrow. We serve more than 60 million people across the globe through our cleaning and collection services and manage more than 150 treatment plants, thanks to a huge network of more than 50,000 employees who promote real circularity every day.

Contact:
Dan Whelan
Platinum Equity
dwhelan@platinumequity.com

View original content:https://www.prnewswire.com/news-releases/platinum-equity-to-sell-global-environmental-services-business-urbaser-to-blackstone-and-eqt-for-6-6-billion-302686111.html

SOURCE Platinum Equity