CVC DIF Acquires Majority Stake in EcoEridania

CVC DIF Infrastructure has secured a controlling interest in EcoEridania S.p.A., a prominent Italian operator specializing in integrated waste management. This strategic acquisition, executed through DIF Infrastructure VIII, signifies a significant expansion for CVC's infrastructure arm into the Italian market, marking its inaugural investment since establishing a Milan office in 2024. The transaction is anticipated to finalize by the close of the fourth quarter of 2026, pending standard regulatory approvals.

EcoEridania, established in 1988, stands as Italy's foremost vertically integrated provider of medical waste management solutions and a substantial player in the broader industrial waste sector. The company offers comprehensive services, encompassing collection, transport, storage, treatment, recovery, and disposal for both healthcare facilities and industrial clients across the nation. In 2025, the firm reported serving approximately 27,000 clients, operating a network of 22 treatment and disposal sites, utilizing a fleet of around 1,600 vehicles, and managing an impressive 1.3 million tons of waste.

This pivotal investment will empower EcoEridania to accelerate its growth trajectory. CVC DIF intends to bolster the company's leading position within Italy's industrial waste management segment by pursuing both organic expansion and strategic acquisitions. The partnership aims to enhance operational efficiencies, fortify the company's national infrastructure, and explore new opportunities in key waste management niches. Andrea Giustini, the founder and CEO of EcoEridania, will retain and increase his substantial minority stake, reinforcing his commitment and ensuring alignment with the new majority owner's strategic objectives.

The deal involved iCON Infrastructure Operations (UK) Limited, an entity affiliated with iCON Infrastructure LLP, divesting its indirect 75% ownership in EcoEridania. This move follows an eight-year period where iCON supported EcoEridania's substantial business growth and diversification.

Tom Goossens, Co-Head of DIF Infra Funds, highlighted the investment's rationale, stating, “EcoEridania is a clear leader in the Italian medical waste management sector, and this investment reflects our conviction in the long-term value of essential infrastructure. We are equally positive about EcoEridania's fast-growing industrial waste platform, which broadens the company's activities and offers meaningful further growth potential.” He further emphasized the commitment to partnering with Andrea Giustini and the management team to drive continued expansion.

Roberta Battaglia, Head of CVC DIF Italy, echoed this sentiment, noting, “Italy is a strategic market for CVC DIF, and EcoEridania is exactly the type of high-quality, essential infrastructure business that we set out to invest in when we opened our Milan office.” She expressed admiration for the company's national reach, integrated model, and proven performance, anticipating a collaborative effort to propel the next phase of growth.

The waste management sector in Europe is experiencing robust growth, driven by increasing regulatory pressures for sustainable practices, circular economy initiatives, and a growing volume of industrial and healthcare byproducts. Italy, in particular, is focusing on modernizing its waste infrastructure, making investments like this timely and strategically important. CVC DIF's focus on essential infrastructure aligns with a broader trend of private equity seeking stable, long-term assets with predictable cash flows.