Equitix expands stake in Viridor to accelerate UK waste-to-energy growth

UK — Infrastructure investment firm Equitix has agreed to acquire a further minority stake in Viridor Group from global investment company KKR, paving the way for Equitix to potentially increase its holding to as much as 50%.

The deal strengthens Equitix’s position within one of the UK’s major energy-from-waste (EfW) operators as demand for low-carbon waste treatment infrastructure continues to rise.

Equitix, which manages more than £13.8 billion in assets across 24 countries, already holds a 35% share in Viridor’s Energy division.

The renewed investment underscores growing institutional confidence in the EfW sector, particularly as councils and businesses seek alternatives to landfill amid tightening environmental regulations.

Viridor operates 12 energy-from-waste facilities nationwide, with two more plants currently in development.

Collectively, the company processes around 3.4 million tonnes of waste annually, converting non-recyclable material into energy while supporting local authorities in meeting sustainability and circular economy targets.

Chief executive Kevin Bradshaw welcomed the expanded partnership, noting that Equitix will play a central role in advancing Viridor’s long-term strategy.

“We are delighted that Equitix will be further investing in Viridor to support our long-term growth strategy, alongside KKR,” he said.

KKR, which carved out Viridor in 2020, also reiterated its commitment. Tara Davies, co-head of KKR EMEA and co-head of European Infrastructure, said the business has evolved into a high-performing leader in waste treatment over the past four years.

“The business is now delivering consistently strong operational and financial performance, alongside significantly improved health and safety outcomes,” she noted, emphasizing continued collaboration with Equitix as Viridor enters its next growth phase.

The investment arrives amid increasing activity in the UK waste-to-energy landscape. Earlier this year, Cory Group advanced plans for its Riverside 2 EfW facility in London, while SUEZ and FCC Environment continued to expand recycling and recovery infrastructure across regional municipalities.

Analysts say that strategic capital injections, like the Equitix–Viridor deal, reflect investor optimism driven by stable long-term revenue models tied to waste supply contracts and energy generation.

However, the sector also faces scrutiny over emissions and its role within broader circular economy goals.

The UK government is currently reviewing EfW emissions policy as part of its net-zero roadmap, with industry groups calling for clearer guidance and incentives to support carbon capture integration.

As regulatory frameworks evolve, Equitix’s deeper involvement positions Viridor to scale its operations, invest in new technology, and play a pivotal role in shaping the next generation of waste and energy infrastructure in the UK.

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