One of the UK's leading waste management companies and was best known for operating barges on the River Thames. 

In April 2005, Montagu Private Equity led the management buyout of Cory Environmental.  Cory Environmental was a 100% owned subsidiary of Exel, plc, whose main business was logistics and supply chain management.

Montagu was attracted to Cory because of its contracted revenue streams, well-placed landfill sites and its very experienced and highly regarded management team.

In March 2007 Montagu sold Cory to a consortium of long-term infrastructure investors consisting of ABN AMRO Global Infrastructure Fund (ABN AMRO GIF), Finpro SGPS and Santander Private Equity, on behalf of Santander Infrastructure Funds I and II.  

Deal details

Year of entry


Year of exit



United Kingdom



Industry Sector

Essential Services

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