Veolia to Sell Sulfuric Acid Regeneration Business in North America

31 Jul, 2024

Veolia to Sell Sulfuric Acid Regeneration Business in North America

French group Veolia has agreed to sell its sulfuric acid regeneration business in North America to private equity firm American Industrial Partners for an enterprise value of $620 million. This deal includes Veolia North America Regeneration Services, encompassing sulfuric acid and hydrofluoric acid regeneration activities for refineries.

Veolia's strategy focuses on parting with non-priority assets to allocate resources to its core businesses. The division being sold generated $350 million in revenue in 2023, highlighting its significant contribution to the company.

CEO Estelle Brachlianoff stated that this disposal aligns with Veolia's policy of reshaping its asset portfolio according to the strategic priorities of its GreenUp plan, while maintaining strict balance sheet discipline. This move aims to streamline Veolia's operations and focus on its core environmental services.

The transaction is part of Veolia’s broader strategy to optimize its portfolio and concentrate on businesses that align with its long-term goals. By divesting non-core assets, Veolia aims to enhance its financial stability and operational efficiency, ensuring sustained growth and better resource allocation for its priority areas.