Morgan Stanley Infra Arm Weighs Deal for Waste Firm Augean
(Bloomberg) -- Morgan Stanley Infrastructure Partners is considering an acquisition of U.K. waste management services firm Augean Plc, people familiar with the matter said, in what would be the latest in a spate of British take-private deals.
The investment firm has been studying a potential takeover of Augean, the people said, asking not to be identified discussing non-public information. Augean has a market value of 261 million pounds ($368 million).
Formed in 2004, Augean offers waste-management services to companies in sectors ranging from oil and gas to nuclear and radioactives, according to its website. Its shares have risen 38% on London’s junior Alternative Investment Market in the last 12 months.
Deliberations are ongoing and there’s no certainty Morgan Stanley Infrastructure Partners, an investment arm of the U.S. bank, will proceed with a bid, the people said. A representative for Morgan Stanley declined to comment. A spokesperson for Augean didn’t respond to requests for comment.
Private equity firms are snapping up U.K. companies at a rate not seen since before the 2008 financial crisis. They’ve spent $18.3 billion on takeovers of publicly-traded British targets this year, according to data complied by Bloomberg. At this rate, they may surpass the $27.5 billion of such transactions struck in 2019, which was a post-crisis high.
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