Broom Holdings Bidco Ltd.

Overview Key strengths Key risks Strong market position in Ireland, with more than 2.6x the market share of the nearest competitors in waste collection and 3.6x in processing. Small absolute size compared with waste management peers in other countries, and limited geographical diversification, with close to half of revenue generated in Ireland in 2023. Long-term contracts and low customer churn support revenue visibility and allow for beneficial offtake prices due to steady waste intake volumes. EBITDA margin pressure from the passthrough of cost inflation, delays in executing on growth initiatives, and challenges in the offtake market. High barriers to entry due to significant capital expenditure (capex), regulatory requirements, and multi-year contracts with market incumbents. High capex requirements suppressing free operating

...Beauparc (operating entity of Broom Holdings Bidco Ltd.) demonstrated relatively resilient operating performance in 2024 despite the setback of a fire at its Cappagh facility and ongoing challenges in the U.K.'s waste disposal market. In 2024, revenue expanded by about 8% year-on-year, underpinned by additional capacity coming onstream from the Knockharley license in Ireland and some price increases implemented to pass through cost inflation. Meanwhile, S&P Global Ratings-adjusted EBITDA margin is estimated to be 16.3%, slightly lower...

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