Madrona and BVA advise on Solví’s BRL115mn deal

Madrona Advogados advised Solví Essencis Ambiental, through its wholly owned subsidiary GRI Koleta Gerenciamento de Resíduos Industriais, on an agreement to acquire 100% of the equity interests in Amplitec Gestão Ambiental and Essencial Central de Tratamento de Resíduos, two companies belonging to the same economic group and active in the waste management and treatment sector. BVA – Barreto Veiga Advogados represented the sellers. The closing of the deal remains subject to customary conditions precedent set out in the transaction documents.

The target companies jointly operate a landfill in the municipality of Rio das Pedras, in the state of São Paulo, with a waste disposal capacity of up to 1,000 tons per day. Essencial Ambiental also provides services to 26 municipalities in the Piracicaba region. The transaction has an enterprise value of BRL115 million, calculated on a cash and debt free basis, from which the target companies’ financial and operational debt will be deducted. The acquisition forms part of Solví’s expansion strategy in the countryside of São Paulo state, adding assets focused on waste management and disposal to a group that already operates in waste management, treatment, green energy and industrial solutions across Brazil, Argentina and Peru.

The Madrona team was led by Luciana Felisbino, partner in Corporate and M&A, together with Lucas Grilli Bastos, Izabel Cristina de Lima and Rafaela Avelar. Rafael Malheiro, partner, led the tax aspects of the deal.

Solví was also assisted by its in-house lawyers Alessandra Vilardi Muller, Magle Zahane Dias Almeida and Eduardo Alves Rodrigues.

Amplitec Gestão Ambiental, Essencial Central de Tratamento de Resíduos and Althea Participações, the latter controlled by the Pampolini family, were advised by BVA – Barreto Veiga Advogados. The team was led by Isabela Xavier, partner in the Corporate and M&A practices, together with partners Felipe Barreto Veiga, whose practice encompasses M&A, DCM, Private Equity and Venture Capital, and Rafael Teixeira, whose practice encompasses Corporate, M&A, Private Equity and Venture Capital. Willyan Braz, coordinator, and lawyers Gabriela Fragoso, Isabela Ciriano, Larissa Ferreira and Natália Rudrigues, from the Corporate and M&A practice, also advised on the transaction. Advisia Investimentos acted as financial adviser to Amplitec and Essencial Ambiental.