KKR and Hermes Infrastructure completed the acquisition of Viridor from Pennon Group for $5.1bn.

KKR and Hermes Infrastructure, a specialist investment manager, completed the acquisition of Viridor Waste Management, a recycling and residual waste management services provider, from Pennon Group, an environmental utility infrastructure company, for $5.1bn. Hermes Infrastructure acquired 9.45% and KKR acquired the remaining stake. "I am honoured to be taking on the role of Chief Executive Officer, following the success of Pennon under Chris’ and Sir John’s leadership, and am excited by the appointment of Gill as Group Chair. With our renewed focus on excellence in the water and wastewater sector it is an incredibly exciting time for the Group as we forge ahead with our ‘New Deal’ plans for the 2020-25 period. We’ve set ourselves ambitious targets, but I am confident we can build on past progress and can deliver for our customers and stakeholders, further cementing our leadership within the UK water sector while working in ever more innovative and sustainable ways," Susan Davy, Pennon CEO.