MIRA’s Acquisition of Wheelabrator from Energy Capital

Credit Suisse and UBS Investment Bank served as financial advisors to Wheelabrator on the sale and Latham & Watkins LLP served as legal counsel. Greentech Capital Advisors and RBC Capital Markets served as financial advisors to MIP and Kirkland & Ellis served as legal counsel.

Energy Capital Partners has entered into a definitive agreement to sell Wheelabrator Technologies Inc., a leading owner and operator of waste-to-energy facilities, to Macquarie Infrastructure Partners (“MIP”), which operates within the Macquarie Infrastructure and Real Assets division of Macquarie Group. MIP will make the investment through one of its managed funds.

Wheelabrator provides a critical waste disposal solution for local communities and delivers renewable energy to residential and commercial consumers. Wheelabrator currently has a platform of 26 strategically located assets located in the U.S. and the U.K., including 19 WtE facilities (three under construction), three independent power plants and four ash monofills.

The transaction is subject to Federal Energy Regulatory Commission, Committee on Foreign Investment in the United States, Federal Communications Commission and New Jersey Department of Environmental Protection approvals and other customary closing conditions, and is expected to close in Q1 2019.

Kirkland advised Macquarie Infrastructure and Real Assets (MIRA) with John Pitts (Picture) and Alex Rose and associates Ben Hardison and Levi Stoneking; debt finance partners Rohit Chaudhry, Melissa Hutson and Yuli Wang; and tax partner Lee Morlock.

Involved fees earner: John Pitts – Kirkland & Ellis; Alex Rose – Kirkland & Ellis; Ben Hardison – Kirkland & Ellis; Levi Stoneking – Kirkland & Ellis; Rohit Chaudhry – Kirkland & Ellis; Melissa Hutson – Kirkland & Ellis; Yuli Wang – Kirkland & Ellis; Lee Morlock – Kirkland & Ellis;

Law Firms: Kirkland & Ellis;

Clients: Macquarie Infrastructure and Real Assets ;

Author: Ambrogio Visconti