London, 2nd April 2015: Averda, the largest provider of integrated waste management solutions across the emerging world, has announced today its acquisition of a majority stake in leading South African waste management group, Wasteman Holdings (Pty) Ltd.
Averda will take a majority share in Wasteman, expanding Averda’s footprint in Africa alongside its other international operations and providing a solid platform for further growth in the continent.
Wasteman is one of the largest waste management companies in South Africa and has operated for 35 years providing fully integrated solutions to leading industry sectors on a national basis. The investment brings significant advantages to both businesses with the opportunity to leverage various initiatives and experiences around city cleaning, waste disposal and recycling as well as the development around new and innovative waste management programmes.
The Chairman of Averda, Maysarah Sukkar, commented: “In line with our global growth ambitions, the acquisition of Wasteman significantly enhances Averda’s position in Africa to provide specialized solutions for waste management. We are excited about the opportunity ahead and look forward to bringing our vast international experience from city cleaning to waste recovery and disposal to Wasteman’s operations.”
Jan Labuschagne, CEO of Wasteman Holdings (Pty) Ltd remarked: “Wasteman group will reap immense benefit from the entry of Averda into the South African market. In addition to the injection of foreign direct investment, Averda will contribute a wealth of waste industry expertise and technology. We look forward to partnering with our new majority shareholder along a path of accelerated growth.”
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