Mid-Europa Partners Acquires Wheelabrator Group
March 9, 2006—Mid-Europa Partners (MEP), through its Emerging Europe Convergence Fund II LP, has completed the acquisition of all outstanding Wheelabrator Group equity from an investment group led by Bard & Co.
According to Wheelabrator's press release, this new development will not affect its current strategy. The group will continue to pursue the action plan it developed over the last three years following its spinoff from Veolia Environment. Wheelabrator's corporate functions, currently located in Golden, CO, will be moved to Altrincham, England, over the coming year.
?This is a major milestone in our development,? says Robert E. Joyce Jr., chief executive officer of Wheelabrator. ?Central Europe has a key role in our growth strategy, and MEP brings to the group investment and geographical expertise in the market segment we have targeted in the region. In line with this strategy, we are significantly increasing our main manufacturing activities in Poland to further strengthen our position in these markets. Central Europe is also at the very heart of MEP's investment philosophy, making them the perfect partner for us to achieve our next level of growth.?