- Exponent first invested in Enva in 2017
- Enva achieved significant revenue growth and delivered an EBITDA CAGR of 12 percent during Exponent’s ownership
- Exponent is a private equity firm based in London
Exponent Private Equity has agreed to sell Enva, a provider of recycling and resource recovery services, to I Squared Capital.
Enva is headquartered in Glasgow, Scotland.
I Squared Capital will acquire Enva through its ISQ Global Infrastructure Fund III.
Exponent first invested in Enva in 2017. The firm supported Enva to grow organically and via market consolidation, having completed 10 add on transactions since acquiring the company, according to a release.
Enva achieved significant revenue growth and delivered an EBITDA CAGR (compound annual growth rate) of 12 percent between 2017 and 2023.
“Under our ownership, the business has grown into a leading platform in its markets, doubled profits, and introduced a wide range of sustainable waste recovery and recycling solution,” said James Gunton, partner at Exponent.
The completion of the acquisition is expected to be in Q2 2023, subject to regulatory approval.
Exponent is a private equity firm based in London. The firm has raised more than €3 billion to date.
I Squared Capital is an independent global infrastructure manager with over $37 billion in assets under management focused on investing in North America, Europe, Asia, and Latin America. The firm is headquartered in Miami, Florida.