Exponent has reached an agreement to sell Enva to I Squared Capital, an independent global infrastructure manager.
Enva is a recycling and resource recovery business with over 1,600 employees across its 34 operational facilities in the UK and Ireland.
It provides a range of services to customers in the industrial, commercial, construction and public sectors, with a particular focus on managing hazardous and specialist waste.
Enva was created in 2017 through the acquisition of the Environmental Division of DCC Plc, the Ireland based FTSE 100 company.
"Since partnering with Exponent, Enva has developed a portfolio of innovative waste-to-product technologies to support our customers, acquired a range of synergistic businesses, and brought on a strong bench of talented managers to support key parts of the business," said Tom Walsh, CEO at Enva.
"This has allowed us to develop our value added, circular economy-driven proposition and has cemented our position as a leading resource recovery platform in the UK and Ireland. I am delighted to begin the next step on our journey with I Squared Capital," he added.
The acquisition is expected to be completed in the second quarter of this year subject to customary regulatory approvals.
