PwC advised Blackstone and EQT on their acquisition of Urbaser, a leading international environmental services platform, providing cross-border due diligence and structuring support

February 2026

PwC is delighted to have advised both Blackstone and EQT on their acquisition of Urbaser, a global provider of integrated environmental solutions. Founded over three decades ago, Urbaser is a leading international waste management and environmental services platform focused on maximising recycling, regeneration and resource recovery. The transaction supports Urbaser’s continued growth across its core markets, underpinned by the accelerating transition towards a circular economy.

PwC UK and PwC Spain provided financial and tax due diligence, structuring advice, tax model review and SPA support for the consortium. The combined Transactions and M&A Tax teams are proud to have supported Blackstone and EQT on this important investment, which strengthens Urbaser’s position as a sustainability-focused global operator in the environmental services sector.

PwC deal team:

  • David Pedler,Partner, PwC United Kingdom
  • Juan Ignacio García Martos, Partner, PwC Spain
  • Elisabeth Hunt, Partner, PwC United Kingdom
  • Silvia Lucena Gosálvez, Partner, PwC Spain
  • Jeff Nye, Partner, PwC United Kingdom

Meet the Deals team

Contact us

David Pedler

Financial Due Diligence Partner, PwC United Kingdom

Juan Ignacio Garcia Martos

Partner, PwC Spain

Tel: +34 683 271698

Elisabeth Hunt

Elisabeth Hunt

Clients and Markets Officer for Deals Tax, Deals Tax Partner, PwC United Kingdom

Tel: +44 (0)7841 491410

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