FCC Servicios Medio Ambiente has reached an exclusive agreement to analyse the purchase of the operating subsidiaries of Europe Services Groupe (ESG). The company had a turnover of 98.7 million euros in 2023 and employs around 2,000 people. Subject to obtaining all necessary approvals and customary conditions precedent, the transaction would be completed in the second half of 2024.

ESG concentrates its activity in two of France's most populated areas: the metropolitan areas of Paris and Lyon, through its four operating subsidiaries where it provides municipal waste collection, street cleansing, professional cleaning services, and maintenance services for public and private clients.

According to Iñigo Sanz, CEO of FCC Servicios Medio Ambiente, "the acquisition of the ESG’s business would represent the entry into a key market for us and a significant step in FCC Servicios Medio Ambiente's growth strategy. In addition, we believe that the contribution that all the employees of the ESG group would make to our future in France would be particularly valuable for our company".

Carlos Afonso, Director of Development and M&A, commented "ESG's activity is part of our group's strategic services, and would constitute a platform for growth for FCC throughout France, both in the services currently provided by ESG and in waste treatment, thanks to the technical and financial strength of the FCC Servicios Medio Ambiente group".

Bird&Bird is acting as legal advisor to FCC Servicios Medio Ambiente on the transaction.

FCC Servicios Medio Ambiente is the holding of the group of companies that for more than 120 years has been the backbone of the FCC Group's environmental activities. It serves more than 67 million people in nearly 5,400 municipalities around the world and manages more than 24.7 million tonnes of waste every year.