SCP Acquisition, Valuation, Funding & Investors

SCP was acquired by Environmental 360 Solutions E360S in April 2024.

See full SCP profile

SCP acquisition price

Undisclosed

Acquired by Environmental 360 Solutions E360S · Apr 2024

Key investors in SCP

SCP Overview

About SCP

SCP, formerly SZITIC Commercial Property, is a Chinese shopping mall developer and manager based in Shenzhen. It was founded in 2003 with investment from the Shenzhen city government, which later divested. The company managed 19 shopping malls across China under the Incity, SCP Plaza and One City brands, covering more than 4 million square metres of space. It earns rent and management fees from mall tenants and develops new retail projects in second-tier and first-tier cities. In 2013 Blackstone agreed to buy 40 percent of the company and ICBC International Holdings bought a further 6 percent. The investment was reported at about 400 million US dollars, and Blackstone bought its stake through its Asia real estate fund.


Founded

2003

HQ

ChinaShenzhen

Status

Acquired

Customer focus

B2B

Revenue model

Leasing & Rental Services, Services

Valuation

$1B (Nov 2013)

SCP Acquisition

SCP was acquired by Environmental 360 Solutions E360S for an undisclosed price on 1 April 2024.

Environmental 360 Solutions (E360S), the Canadian waste management and environmental services group controlled by BlackRock Alternatives, acquired SCP Inc. and Service Cite Propre Inc. in April 2024. SCP is headquartered in Saint-Etienne-des-Gres, Quebec, and provides municipal solid waste collection and commercial and industrial front-end and roll-off services in the Mauricie region. E360S said the acquisitions expand its footprint in Shawinigan, Trois-Rivieres and the surrounding Mauricie region, and that it will keep up the service level customers expect while adding its wider environmental services. The deal is an add-on to the E360S platform, in which BlackRock acquired a majority interest in February 2023 through a fund managed by its Diversified Infrastructure business, with Canadian Business Growth Fund, an earlier investor, increasing its stake in the same transaction. E360S is based in Aurora, Ontario, was founded by Donato Ardellini, who remains chief executive, and provides solid waste management, environmental services and recycling across several Canadian provinces.

SCP acquisition details
AcquirerDateType
  • Environmental 360 Solutions E360S
1 Apr 2024Strategic M&A

Sources: e360s.ca, e360s.ca

SCP Valuation

SCP is currently valued at $1B, based on its undisclosed-stage round in November 2013. Read the announcement ↗

The round included Blackstone.

SCP valuation by funding round

SCP valuation by funding round
DateStageValuation
Nov 2013Undisclosed stage$1B

SCP Funding History

SCP has raised 1 funding round.

SCP funding rounds
DateStageInvestorsValuationDeal Summary
Nov 2013Undisclosed stageBlackstone$1BBlackstone agreed in November 2013 to buy a 40 percent stake in SCP, the Shenzhen-based mall developer formerly known as SZITIC Commercial Property. The investment was reported to be about 400 million US dollars, and the price was not officially disclosed. The stake was bought through Blackstone's Asia real estate fund, and ICBC International Holdings separately took a 6 percent stake in the company. The investment gave Blackstone a minority position in one of the larger mall platforms in China and an operating partner for further retail acquisitions there. SCP was founded in 2003 with investment from the Shenzhen city government, which later sold its interest. At the time of the deal it managed 19 shopping malls across China under the Incity, SCP Plaza and One City brands, covering more than 4 million square metres of space.

Who has invested in SCP?

1 investor has backed SCP across its funding rounds, including Blackstone.


SCP Investors

Investors in SCP by funding rounds participated
InvestorHQRoundsRoleFirst check

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SCP Competitors

SCP competitors include listed companies like Infracore, Abacus Storage King, TLG Immobilien and Yeni Gimat GYO, and private ones like Société pour le logement intermédiaire and Manyata Promoters.

Public and private companies comparable to SCP
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
InfracoreSwitzerlandSwitzerlandPublicly listed$29K-$990M-
Abacus Storage KingAustraliaAustraliaPublicly listed$171M$137M$1.1B11.8x
Société pour le logement intermédiaireFranceParisPrivate--$1.1B-
TLG ImmobilienGermanyGermanyPublicly listed$161M$20M$1.2B-
Yeni Gimat GYOTurkeyTurkeyPublicly listed$62M-$843M-
Manyata PromotersIndiaBangalorePrivate--$550M-
Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
CPI FIM$140M$83M18.3x-31.0x-
Azorim$589M$154M4.3x-16.6x-
Infracore$29K-36748.3x---
Swedish Logistic Property$103M$95M20.1x16.9x21.7x19.4x
Lahav L R Real Estate$164M$93M7.5x-13.2x-
FII CSHG Logistica$56M-17.3x---
Welspun Enterprises$362M$62M2.9x-17.3x-
Villar International$111M-11.9x---

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Common questions about SCP

When was SCP founded?SCP was founded in 2003.
Where is SCP headquartered?SCP is headquartered in Shenzhen, China.
Is SCP publicly listed?No, SCP was acquired by Environmental 360 Solutions E360S in April 2024.
Who acquired SCP?SCP was acquired by Environmental 360 Solutions E360S in April 2024.
What is SCP's valuation?SCP was last valued at $1B in its undisclosed-stage round in November 2013.
What was SCP's last funding round?SCP's last funding round was a undisclosed-stage round in November 2013.
Who are SCP's investors?SCP's investors include Blackstone.
Which companies are comparable to SCP?Companies comparable to SCP include Infracore, Abacus Storage King, Société pour le logement intermédiaire, TLG Immobilien, Yeni Gimat GYO and Manyata Promoters.

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