Milbank LLP is advising the financing sources on the £1.3 billion acquisition of Biffa plc, a leading UK-based listed integrated waste management company, by Energy Capital Partners (ECP) and its affiliates. Biffa plc is a leader in the UK's sustainable waste management industry and a key enabler of the UK's circular economy. The Biffa Group operates across the breadth of the waste management process, including surplus redistribution, recycling, treatment, energy generation, collection and disposal. Biffa's customer base for these services includes local governments (who are responsible for the management of household waste), large corporates and SMEs, and purchasers of end-product commodities and energy. The Biffa Group's operating segments are split into three divisions - Collections, Resources & Energy and Specialist Services. Founded in 2005, ECP is a global investment firm with more than $26 billion in capital commitments from more than 600 limited partners and a portfolio of more than 20 operating equity portfolio companies that serve customers around the world. ECP specialises in investing in operating companies across energy transition, electrification and decarbonisation infrastructure assets, including power generation, renewables and storage solutions, environmental infrastructure and sustainability, efficiency and reliability assets. The Milbank team is led by European Leveraged Finance/Capital Markets partner Suhrud Mehta, special counsel Laura Bonamis, associates Bie Cookey and Pranahita Srinivas and trainee solicitor Gabriel Steinberg, with support from the London corporate team, special counsel Merih Altay and associate Gemma Cullen and London tax team special counsel Andrew Callaghan and associate Pranav Subhedar.