- Beginning of a new chapter for Urbaser, marked by a new ownership group, a planned leadership transition and a significantly strengthened capital structure.
- Carlos Albi, currently Chief Operating Officer, will be appointed Chief Executive Officer, effective January 1, 2027, while Fernando Abril-Martorell, currently Chief Executive Officer, will become Non-Executive Chairman of Urbaser and chair its Board of Directors.
- As part of the transaction, the new shareholders will significantly reduce Urbaser’s leverage, strengthen its capital structure and build its financial capacity to support its next phase of growth.
Madrid, September 22, 2026 – Urbaser, a global leader in environmental solutions, today announced that Blackstone Infrastructure and EQT Infrastructure have completed the acquisition of the Company.
The completion of the transaction marks the beginning of an exciting new chapter for Urbaser, backed by two leading and long-term oriented infrastructure investors. Blackstone and EQT share Urbaser’s ambition to continue its leadership by delivering leading environmental management solution for its customers, while continuing to drive growth in both Spain and the company’s international markets.
Leadership continuity
At the same time, Urbaser is also announcing the next stage in the evolution of its leadership structure.
Fernando Abril-Martorell, who has served as Chief Executive Officer of Urbaser for the past four years, will transition to Urbaser’s Non-Executive Chairman. Effective January 1, 2027, Carlos Albi, currently Chief Operating Officer, will be appointed Chief Executive Officer of Urbaser.
Since joining Urbaser as CEO in 2022, Abril-Martorell has led a significant strategic and operational transformation of the Group, focused on business simplification, capital discipline and accelerating its leading position in the circular economy. Under his leadership, Urbaser has focused on key geographies and higher-value contracts, supporting continued profitable growth. This strategy has strengthened Urbaser’s strategic, operational and financial position and laid the foundations for its next phase of growth.
Before becoming Urbaser’s COO, Albi served as Global Head of Corporate Development, Strategy and Sustainability. He has played a central role in defining and implementing the Group’s transformation plan, driving operational efficiency across its international markets and executing key corporate transactions. His deep knowledge of the Group will help ensure a natural transition and a high degree of continuity in the management of the business.
Fernando Abril-Martorell said: “The completion of this transaction marks the beginning of a new phase for Urbaser with significant opportunities ahead. Over the past four years, we have carried out a profound transformation of the company, all made possible above all by the exceptional dedication and talent of the entire Urbaser team.
I am very pleased that Carlos will take on the responsibility of leading Urbaser as CEO. He knows the company extremely well, has been a key member of our management team and has all the qualities required to lead Urbaser through this next phase. I will remain fully committed to Urbaser as Non-Executive Chairman, supporting Carlos, the management team and the Board, and working alongside our new shareholders to continue developing the full potential of the Company.”
Carlos Albi said: “It is a privilege to take on the responsibility of leading Urbaser. We have an outstanding team, a very strong position across our markets and, in Blackstone and EQT, shareholders who share our ambition to continue growing. I look forward to working closely with Fernando, the Board and the entire Urbaser team.”
From today, Albi has joined Abril-Martorell on Urbaser’s Board of Directors, together with Adam Kuhnley and Scott Schultz of Blackstone, and Matthias Fackler and Guillermo García-Barrero of EQT. Joining the Board as independent directors are Claudio Boada and Ruud Sondag. Claudio Boada currently sits on the board of several Spanish infrastructure and real estate businesses, including Abertis Infraestructuras, and was previously Managing Director and President of Lehman Brothers Iberia and chairman of the Círculo de Empresarios. Ruud Sondag is the former CEO of Van Gansewinkel Groep, Eneco and Royal Schiphol Group, with over 35 years of experience across the waste, recycling and energy sectors.
An enhanced capital structure
In connection with closing, Urbaser’s “payment-in-kind” holding company bond facilities have been retired, with incremental equity invested by Blackstone and EQT.
Abril-Martorell added: “From a financial perspective, it puts Urbaser in a very strong position. Reducing our debt by approximately €1 billion strengthens our balance sheet, significantly lowers our financing costs and provides us with great capacity to continue investing and growing.”
