Funds advised by Basalt Infrastructure Partners LLP (“Basalt”) announced today that an agreement has been reached to acquire leading regional waste management platform JR Richards & Sons (“JR Richards”) from owner Ken Richards.

The transaction is conditional on obtaining customary approvals and is expected to close by the end of March, 2026. The terms of the transaction are not disclosed.

JR Richards is one of Australia’s leading regional waste management operators, delivering essential waste collection, recycling and processing services to municipal, commercial and industrial customers. The company operates a vertically integrated platform comprising depots, transfer stations and 12 processing facilities strategically located across regional NSW, supported by a well-maintained fleet of vehicles and approximately 600 staff.

“Basalt is delighted to enter the Australian infrastructure market through the acquisition of JR Richards, a leading and trusted regional waste management platform.” stated John Hanna, Managing Partner Basalt. “With strategically located facilities, an extensive fleet and long‑term municipal partnerships, JR Richards is well placed to benefit from favorable regulatory momentum encouraging higher resource recovery and organics diversion. We look forward to working closely with the company’s experienced management team and employees to support the next phase of growth.”

Rothschild & Co served as exclusive financial advisor and Ashurst served as legal advisor to Basalt.

About Basalt

Basalt is investment advisor to certain infrastructure equity investment funds focusing on mid-market investments in utilities, power, transport, and digital infrastructure primarily in North America and Europe. The Funds have invested c.US$8bn across 32 investments primarily in North America and Europe, including two in the waste management sector.