Cube Infrastructure, Equitix Investment bag majority stake in RiverRidge

• BGF exited its minority stake in RiverRidge as part of the transaction
• Cube made the investment via its Cube Infrastructure Fund III
• Cube is an independent mid-market infrastructure investor

Cube Infrastructure Managers and Equitix Investment Management have jointly completed the acquisition of a majority stake in RiverRidge Holdings, a waste management and energy recovery company in Northern Ireland.

No financial details of the transaction were disclosed.

RiverRidge is based in Belfast. The company, with around 280 employees, generated £60 million (€68.9 million; $74.45 million) in revenue in 2022.

BGF has exited its minority stake in RiverRidge as part of the transaction. BGF invested £16 million in the company since its first investment in 2016, according to a release.

Cube has made the investment via its Cube Infrastructure Fund III.

“The investment in RiverRidge Holdings represents a unique opportunity for Cube to acquire an essential infrastructure asset in a new geographic location, with the embedded opportunity to pivot towards the generation of renewable energy from waste,” said Saket Trivedi, partner of Cube Infrastructure Managers.

Cube is an independent mid-market infrastructure investor based in Luxembourg. The firm has raised an aggregate €4.0 billion and manages four funds.

Equitix is an infrastructure investor, developer, and fund manager. The firm is based in London.

BGF is a London-based investment company that provides growth capital for small and medium-sized businesses in the UK and Ireland.

Cube and Equitix were advised by Eversheds Sutherland and PwC.