Cleanzine: your weekly cleaning and hygiene industry newsletter 16th July 2026 Issue no. 1219
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MSIP enters into agreement to acquire majority stake in Nicollin Environnement
Morgan Stanley Investment Management has entered into exclusivity and committed to complete the acquisition of a majority stake in Nicollin Environnement, a family-owned French environmental platform focused on waste collection and sorting, urban street cleaning and water-related solutions.
The Nicollin family will remain invested alongside MSIP and will continue to support the company's next phase of growth.
Founded in 1945 and led by the Nicollin family for more than three generations, Nicollin is one of France's leading independent environmental platforms. It provides these essential environmental solutions to municipalities and businesses across France, operating through a national network of local centres. The company manages approximately 360 public contracts and 8,000 private clients, supported by approximately 4,800 employees, a fleet of 2,900 vehicles, and a portfolio of strategically located, mission critical real property - including depots, transfer stations and sorting facilities.
"After more than 80 years of family ownership, we are proud to begin this next chapter with Morgan Stanley Infrastructure Partners, which shares our vision for the future of Nicollin,” say Olivier and Laurent Nicollin. “Together, we will continue investing in growth, innovation and the environmental transition while preserving the values and culture that have shaped our company for three generations.
“By retaining an ownership stake, our family remains committed to supporting Nicollin and its teams for the long term."
MSIP will support Nicollin's continued development, working alongside the Nicollin family and management team to advance operational excellence, renew and decarbonise the fleet, and strengthen its offerings to municipalities and corporate customers.
Alfonso Gómez-Acebo, managing director at MSIP, says: "We are thrilled at the prospect to partner with the Nicollin family and management team through this strategic investment, which will support the next phase of the company's growth.
"Nicollin provides essential environmental solutions across France, supported by long-standing local relationships and a strong reputation for execution quality. We look forward to supporting the Company as it continues to invest in its people, fleet and infrastructure.”
Colleague Alberto Donzelli, (MSIP’s co-head of Europe) adds:
"Nicollin is a strong fit with MSIP's European infrastructure strategy, combining essential municipal solutions, resilient contractual revenues and clear opportunities to support the circular economy,".
The transaction is expected to close in the fourth quarter of 2026 upon completion of the mandatory information and consultation procedures with employee representative bodies and customary regulatory approvals.
www.morganstanley.com | www.groupenicollin.com
16th July 2026