Veolia sells North American sulfuric acid regeneration business for $620 million; the divestment supports its GreenUp strategic plan by focusing investments on core activities

Veolia announces that its subsidiary Veolia North America has signed an agreement for the divestment of Veolia North America Regeneration Services, which includes its sulfuric acid and hydrofluoric acid regeneration activities for refineries, to private equity firm American Industrial Partners for an enterprise value of USD 620 million. These activities represented revenues of around USD 350 million in 2023. The financial closure of the transaction is expected in the coming days.

“This disposal is in line with our policy of continuously reshaping our portfolio of assets in line with the strategic priorities of our GreenUp plan whilst maintaining a strict balance sheet discipline. The sulfuric acid regeneration business in the United States is not one of our key priorities and does not offer synergies with our core activities. Their disposal will enable us to create value and concentrate our investments on the ‘boosters’ of the GreenUp strategic plan,” said Estelle Brachlianoff, Veolia's Chief Executive Officer. 

Veolia's ambition is to become the benchmark company for ecological transformation. With nearly 218,000 employees on five continents, the Group designs and deploys useful, practical solutions for managing water, waste and energy that help to radically change the world. Through its three complementary activities, Veolia contributes to developing access to resources, preserving available resources and renewing them. In 2023, the Veolia group served 113 million people with drinking water and 103 million with wastewater services, produced 42 terawatt-hours of energy and recovered 63 million metric tons of waste. Veolia Environnement (Paris Euronext: VIE) generated consolidated sales of €45.3 billion in 2023.