Stirling takes stake in Environmental Solutions

The investment is Stirling’s fourth from its €375m Fund II, which closed in March.

Stirling Square Capital Partners has acquired Environmental Solutions Europe Holdings (ESEH) for an undisclosed figure.

While the private equity firm declined to comment on the exact size of the acquisition, Stirling chief operating officer Robert Swift said the investment “very much aligns with [Stirling Square’s] pan-European approach to making control investments in companies with an enterprise value of €100 million to €500 million”.

Environmental Solutions, a European business dealing in waste-related products and services, generated sales of €230 million in 2009, in what the company described as “one of the strongest years in its history despite the economic downturn”.

Stirling hopes to expand ESEH further throughout Europe and beyond by investing in new products and further developing Environmental Solutions’ services business. To do so, the firm has recruited trusted executive René Wolfkamp, who was previously chief executive officer of Schoeller Arca Systems, a former Stirling portfolio company.

Stirling partner Stefano Bonfiglio said: “René is familiar with Stirling Square’s active investment management approach and has twenty years of experience in the industry; we are confident he will work well with the existing management team in the development of the company going forward”.

The investment is Stirling’s fourth from its €375 million second fund, which closed in March.