Ancala Partners and Fiera Infrastructure Complete the Acquisition of Augean PLC

London, 20 October, 2021 – Ancala Partners (“Ancala”), an experienced investor in mid-market infrastructure in Europe, and Fiera Infrastructure Inc. (“Fiera Infrastructure”), an established Toronto-based investment firm focused on the infrastructure asset class, today announce the completion of the acquisition of Augean plc (“Augean” or the “Company”), for a total consideration of approximately £390 million.

Augean is a highly regarded leader in the specialised waste management sector, with strategically located facilities and broad customer relationships. The business also has exposure to attractive end markets and further growth opportunities, such as the growing need for responsible waste management. It plays a crucial role in the transition towards a more sustainable and circular economy by mitigating the environmental and social impacts of waste. They plan to create value by providing the company with the necessary financial, technical and strategic support to thrive as a private business.

Ancala and Fiera Infrastructure are long-term investors in the waste management sector, with both having existing investments in the space. Ancala’s experience in the sector includes Biogen, the largest owner and operator of anaerobic digestion plants in the UK as well as Ence Energia, Spain’s leading biomass renewable energy platform. Fiera Infrastructure has an existing platform and extensive experience in the UK waste management sector, including its investment in Cory Group, one of the UK’s leading waste management, recycling, and energy recovery companies.

Both investors look forward to working with the Augean management team to support the business through its next stage of growth, thrive as a private business and continue to deliver on its critical mission.

Karen Dolenec, Partner at Ancala Partners, commented:

“We are very excited about this investment which we identified as a leader in an attractive and growing segment with strong tail winds. Ancala has been impressed by the high quality of the team and operations and is excited to support the Company in expanding its role in this critical part of an effective waste management ecosystem.”

Alina Osorio, President of Fiera Infrastructure, remarked:

“Augean is a leading provider of specialised waste management services in the UK, offering essential and responsible treatment and disposal solutions to a broad customer base. Fiera Infrastructure is excited to work alongside the management team at Augean to support the Company in its next stage of growth.”

Jim Meredith, Chairman of Augean, said:

“The completion of this transaction marks an exciting new chapter for Augean and would not have been possible without the hard work and commitment of all my colleagues. We are already a sector leader and we look forward to benefitting from the resources, experience and expertise of Ancala and Fiera to continue transforming the business to improve on our market leadership, through delivering great customer service whilst providing real opportunity for employees and stakeholders.” 

Ancala and Fiera Infrastructure were advised by Jefferies and Clifford Chance.


Ancala Partners LLP


Spence Clunie, Managing Partner

+44 7917 648 346  moc.alacna@ecneps


Samantha Chiene / Sophia Paris, Brunswick Group
+44 207 404 5959  moc.puorgkciwsnurb@alacna

Fiera Infrastructure

Ashley Ng, Vice President, Investor Relations

+1 416 646 2708  moc.erutcurtsarfniareif@gna

Notes to Editors              

About Ancala Partners
Ancala Partners LLP is an independent infrastructure investment manager focused on delivering enhanced returns from mid-market infrastructure investments across Europe. Ancala adopts a proactive approach to the origination and asset management of investments to create value for its investors.

For more information, please visit

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About Fiera Infrastructure
Fiera Infrastructure is a leading global mid-market direct infrastructure investor operating across all subsectors of the infrastructure asset class and an affiliate of Fiera Capital Corporation (“Fiera Capital”) (TSX: FSZ). Led by a team of highly experienced and specialized professionals, the firm leverages strong global relationships, with a local presence in Toronto, London and New York. Its rigorous approach to investment and asset management aligns with its long-term approach. Fiera Infrastructure has assets under management and commitments of C$2.7 billion as of June 30, 2021. Fiera Infrastructure has invested in 39 infrastructure assets across utilities, telecommunications, transportation, renewables and PPPs.

For more information, please visit

Follow Fiera Infrastructure on LinkedIn.

About Augean

Augean is a specialist waste and resource management group serving the hazardous waste management sector operating at locations across the UK. Augean provides a wide range of services through its treatment, transfer, industrial services, landfill disposal, recovery and recycling capability.