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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About averda:
averda International is the largest environmental solutions provider in the MENA region, specializing in integrated resources management. averda is at the forefront of innovation in the regional market, providing sustainable solutions and more than 35 years of experience in the effective management of waste for both private and public sector clients across pedestrian, residential, commercial and industrial areas.

averda's extensive portfolio of services ranges from street cleaning through to waste collection, treatment, disposal and recycling. The company's capabilities also include the development of solutions for water, wastewater and solid waste of public, residential, commercial, and industrial sectors, all within a sustainable framework that respects the natural environment. averda also designs and implements full-scale solutions to recover valuable and recyclable resources like paper, metals, and water.

Serving in excess of 9 million people every day, averda operates in full compliance with international standards for quality control throughout Lebanon, Saudi Arabia, the United Arab Emirates, Oman, Qatar, the Republic of Ireland, Morocco, Angola, Jordan and Gabon. 

CONTACT
Philippa Charlton
00 44 7771 921480
Philippa.charlton@averda.com

© Press Release 2015