Who Owns Ambipar Company?

Who Owns Ambipar Company?

Understanding a company's ownership is key to grasping its strategy and accountability. Ambipar's IPO in 2020 on the B3 stock exchange marked a significant shift in its ownership structure, paving the way for new growth opportunities.

Founded in 1995 by Tercio Borlenghi Junior, Ambipar is a Brazilian multinational leader in environmental management and emergency response. Its operations span waste valorization, treatment, disposal, and preparedness for environmental incidents, embodying circular economy principles.

The company's market capitalization stood at $4 billion as of July 25, 2025, with trailing twelve-month revenue of $1.23 billion. Examining its ownership, from founders to institutional and public shareholders, offers insight into its future direction. For instance, the Ambipar BCG Matrix helps analyze its business units' market positions.

Ambipar was established in 1995 by Tercio Borlenghi Junior. While precise initial equity details are not public, Borlenghi Junior has consistently held a significant, controlling stake in the company. His initial vision was to create a comprehensive environmental management and emergency response service provider.

Founder's Vision

Tercio Borlenghi Junior founded Ambipar with a clear vision for integrated environmental solutions. This foresight guided the company's early strategic direction.

Early Corporate Structure

Borlenghi Junior joined the corporate structure of the then-Ambitec in 1998. The consolidation of group companies occurred in September 2010 with the founding of Ambipar Participações e Empreendimentos S/A.

Strategic Acquisitions

Early growth was marked by key acquisitions, including SOS Cotec in 2011 and a 51% stake in Emergência Participações in 2012. These moves expanded emergency response capabilities and facilitated international expansion.

International Expansion

The acquisition of a stake in Emergência Participações in 2012 also initiated Ambipar's international presence. This was notably through its involvement with Suatrans Chile.

Consolidation of Services

The company's early strategy focused on building a comprehensive 'one-stop shop' for environmental emergencies. This was evident in the consolidation of its emergency services business.

Ownership Information

Specific details on early angel investors, friends, family stakes, or initial ownership disputes are not readily available in public records. Tercio Borlenghi Junior's controlling interest remains a key aspect of Ambipar ownership.

The foundational strategy of Ambipar, under the leadership of Tercio Borlenghi Junior, was to establish a robust and integrated offering for environmental management and emergency response. This vision was actively pursued through strategic acquisitions that broadened the company's service portfolio and geographical reach. The early growth phase, particularly the acquisitions in 2011 and 2012, were instrumental in consolidating its position in the market and laying the groundwork for future expansion, reflecting a clear commitment to the Mission, Vision & Core Values of Ambipar.

Key Milestones in Ambipar's Early Ownership and Growth

The early years of Ambipar were characterized by strategic moves to solidify its market position and expand its service offerings. These actions were driven by the founder's vision for a comprehensive environmental solutions provider.

• Founded in 1995 by Tercio Borlenghi Junior.
• Tercio Borlenghi Junior has maintained a significant, controlling interest.
• Ambipar Participações e Empreendimentos S/A was founded in September 2010 for group consolidation.
• Acquisition of SOS Cotec in 2011 expanded emergency response operations.
• A 51% stake in Emergência Participações was acquired in 2012, furthering consolidation and international expansion.
• Initiated international expansion through Suatrans Chile following the 2012 acquisition.

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Ambipar's ownership structure has seen significant evolution, particularly with its dual listing. The company first became publicly traded on the Brazilian stock exchange in 2020. A key development occurred in July 2022 when its industrial and environmental emergency response subsidiary combined with a SPAC, leading to a listing on the NYSE.

Ambipar Participações remains the controlling shareholder of Ambipar Emergency Response, holding a substantial 70.8% of the capital stock and an even more dominant 96.0% of the voting rights. This disparity in voting power is due to a dual-class share structure, where Ambipar Group's Class B shares carry 10 votes each, contrasting with the one vote per share for Class A shares held by other shareholders. This concentrated voting power allows for a more unified strategic direction and potentially faster decision-making aligned with the founder's vision. For the parent company, Ambipar Participações (AMBP3), major institutional investors include The Vanguard Group, Inc., XP Gestao de Recursos Ltda., BlackRock, Inc., and Kapitalo Investimentos Ltda. In March 2025, founder and CEO Tercio Borlenghi Jr. increased his stake to 73.48% through a share repurchase, further consolidating ownership. Trustee DTVM also built a significant position, reaching 15% before reducing it to 8.98%.

Key Stakeholders in Ambipar Emergency Response

Understanding who owns Ambipar is crucial for assessing its strategic direction and governance.

• Ambipar Participações is the majority shareholder and holds significant voting control.
• The dual-class share structure heavily influences voting power.
• Institutional investors play a role in the parent company's ownership.
• Founder's increased stake signifies concentrated control.
• Recent share repurchases have reshaped the ownership landscape.

The ownership structure of Ambipar is characterized by a strong controlling interest held by its parent company, Ambipar Participações. This concentration of ownership, particularly in voting rights, suggests a unified strategic vision. For investors and stakeholders, understanding the dynamics of Ambipar ownership provides insight into the company's governance and future direction. Analyzing the Competitors Landscape of Ambipar can also offer context on how its ownership structure might influence its market position and strategic alliances.

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The governance of Ambipar is significantly shaped by its founder, Tercio Borlenghi Junior, who has led the Board of Directors since 2020. His extensive background in commercial and operational areas underpins his strategic direction for the company. Guilherme Patini Borlenghi also plays a key role as a Director, focusing on capital allocation and mergers and acquisitions.

Ambipar's voting power structure is designed to maintain founder control, particularly within its subsidiaries like Ambipar Emergency Response. This is achieved through a dual-class share system where Class B shares, held by the parent company, carry 10 votes each, contrasting with the one vote per share for Class A shares. Consequently, Ambipar Participações commands approximately 96.0% of the voting power in Ambipar Emergency Response, ensuring robust control irrespective of minor shifts in economic ownership. This structure serves as a deterrent against hostile takeovers and insulates the company from short-term market volatility affecting Class A shares.

Key Governance Adjustments

Recent executive management changes in 2023 and 2024 reflect an ongoing effort to refine Ambipar's corporate governance. These adjustments aim to enhance operational efficiency and financial oversight.

• Tercio Borlenghi Jr. assumed the CEO role of Ambipar in June 2023.
• Guilherme Patini Borlenghi was appointed COO in June 2023.
• Fabio Castro, CFO of Ambipar Emergency Response, departed in September 2024; Rafael Espírito Santo is temporarily covering the role.
• Two non-statutory advisory committees were established: an Operational Committee for the Environment segment and a Financial Committee.
• These changes are part of the company's broader strategy, as detailed in the Growth Strategy of Ambipar.

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Over the last three to five years, the ownership of Ambipar has seen significant shifts, marked by a robust acquisition strategy and evolving stakeholder positions. Since its initial public offering in 2020, the company has been active in the market, integrating numerous businesses to fuel its growth.

A key development in 2024 involved the founder and CEO, Tercio Borlenghi Jr., increasing his stake to 73.48% through share repurchases, thereby consolidating control and reducing the publicly available shares. Concurrently, Trustee DTVM, a significant institutional investor, initially built a substantial position, reaching 15%, but later reduced it to 8.98% by March 2025. This dynamic reflects a trend of increased founder ownership alongside active institutional investor participation, shaping the Ambipar ownership landscape.

Founder's Increased Stake

The founder and CEO now holds 73.48% of Ambipar's shares. This concentration of ownership was achieved through strategic share repurchases.

Institutional Investor Activity

Trustee DTVM initially acquired a 15% stake, subsequently reducing it to 8.98% by March 2025. This demonstrates evolving institutional investor engagement.

Strategic Financial Management

In January 2024, the company issued $750 million in 7-year senior unsecured notes. This move extended the average debt life and aimed to reduce net debt.

Post-IPO Strategic Shift

The company's strategy has transitioned to focus on efficiency and deleveraging. This includes a planned reduction in capital expenditure from 15% to 10% of net revenue.

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