Estre Ambiental acquires Cavo for US$302mn

Tuesday, March 8, 2011

Brazilian waste management company Estre Ambiental has acquired Cavo Serviços e Saneamento, part of the Camargo Corrêa group.

The transaction, valued at some 500mn reais (US$302mn), was structured and financed by investment banking group BTG Pactual, paper Valor Econômico reported.

The two companies' combined revenues are estimated at 1.1bn reais.

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Estre Ambiental operates seven waste management centers in Brazil and also offers recycling, soil and water remediation, hazardous industrial waste disposal and environmental consultancy services.

Cavo Serviços e Saneamento offers urban waste collection and cleaning services, with a 38% share in São Paulo urban waste concessionaire Loga. The firm also has medical waste treatment and landfill operations.