Global investment firm KKR has acquired 60% stake in Ramky Enviro Engineers Limited (REEL) for $ 530 million. REEL’s offerings include the management, collection, transport and processing of hazardous, municipal, biomedical and e-waste, as well as recycling of paper, plastic and chemicals. The company also focuses on renewable energy generation. REEL has a presence in over 60 locations across 20 States apart from Southeast Asian, Middle Eastern and African markets.
“With KKR as partner, we look forward to advancing our mission of responsibly addressing environmental issues,” said REEL MD-CEO M. Goutham Reddy. KKR India Member and CEO Sanjay Nayar said, “Our team is pleased to invest in the growth of a company that provides critical services and infrastructure to reduce pollution.”