EQT Plans Potential IPO for Reworld, a Major Sustainable Waste Management Firm
EQT is preparing for a potential IPO of its sustainable waste management subsidiary, Reworld.
Key Points
- • EQT is contemplating an IPO for Reworld next year.
- • Goldman Sachs, JP Morgan, and Royal Bank of Canada are advisors for the IPO.
- • Reworld operates 90 facilities in the US and Canada.
- • The company rebranded from Covanta in 2024.
EQT, a leading investment firm, is reportedly considering an initial public offering (IPO) for its portfolio company Reworld, which specializes in sustainable waste management. The IPO could take place as early as next year, reflecting an increasing focus on sustainable solutions in the waste industry.
EQT has engaged prestigious financial advisors, including Goldman Sachs, JP Morgan, and the Royal Bank of Canada, to assist in preparing for this significant financial event. Reworld, which was acquired by EQT's Infrastructure V fund for $5.3 billion at the end of 2021, operates approximately 90 waste and recycling facilities primarily across the United States, including locations from Hawaii to Massachusetts, as well as several in Canada.
In 2024, the company rebranded from its former name, Covanta, to reflect its evolving business strategy and market positioning. As a leader in the sustainable waste solutions sector, Reworld's potential IPO is anticipated to be one of the more impactful public listings in the environment sector, aiming to attract investors interested in sustainability and green technologies.