EQT Infrastructure II, a fund focusing on developing operational infrastructure companies, has agreed to acquire 51% of E.ON Energy from Waste (“EEW” or the “Company”) from E.ON, one of Europe’s largest energy groups. EQT Infrastructure II will take operational leadership and control of EEW and form a unique partnership with E.ON who will retain 49% of the shares.
The designated Supervisory Board of EEW will provide expertise in the waste management and energy sectors and will be chaired by Jürgen Rauen, former President of Veolia Environnement Deutschland and CEO of Sulo Group. Furthermore, EQT industrial advisors Bernard Kemper, former CEO of RWE Umwelt and President of the German association of Waste Management, as well as Ulf Berg, formerly in various senior roles at ABB Power Generation, will support EEW going forward.
EEW is the market leading private energy-from-waste company in Germany and also active in Luxembourg and the Netherlands. It operates a total of 18 waste incineration plants and produces electricity, district heat and steam for industrial use. 12 of the 18 plants are majority owned by EEW and 6 are operated by EEW under long term agreements. The plants are modern facilities with state-of-the-art technology which are frequently updated. EEW operates an installed waste capacity of around 4.8 million tonnes and plays a vital part in the local energy infrastructure, producing 1,700 GWh of electricity and 2,400 GWh of heat or steam. Well over half of the planned sales are already contracted for the next five years.
In 2011, EEW had sales of EUR 544 million and 1,350 employees.
“EEW is a well-run business with modern technology, which makes an important contribution to local communities by incinerating waste and providing energy. We look forward to working together with and supporting the EEW management team, led by CEO Carsten Stäblein, in further improving the efficiency and utilization of the existing plants and will consider exporting its first-class technology to new geographies”, says Jürgen Rauen, designated Chairman of the Supervisory Board.
The transaction is subject to merger clearance from German competition authorities and is expected to close in the first quarter of 2013.
Andreas Huber, Partner at EQT Partners in Germany
Investment Advisor to EQT Infrastructure II,
+49 89 2554 9939
Lennart Blecher, Partner and Infrastructure Business Line Head at EQT Partners, Investment Advisor to EQT Infrastructure II,
+41 79 679 4691
Jürgen Rauen, EQT Industrial Advisor
+43 5356 73425
EQT Press Department
+46 8 506 55 334
EQT is the leading private equity group in Northern Europe with over EUR 19 billion in raised capital and multiple investment strategies. Together with an extensive network of independent Industrial Advisors, EQT implements its investment strategy by acquiring or financing good medium-sized to large companies in Northern and Eastern Europe, Asia and the United States, supporting their development into leading companies. Development is achieved by an industrial strategy with focus on growth. Since inception, EQT has invested more than EUR 11 billion in around 100 companies and exited close to 50. EQT-owned companies have more than 550,000 employees.
EQT Infrastructure II is the second fund within the infrastructure investment strategy investing in medium-sized infrastructure businesses in the Nordic region, parts of Continental Europe, and North America. Investment targets are regulated infrastructure, concession-based infrastructure, market-based infrastructure and infrastructure-related services. EQT Infrastructure II currently has EUR 1.6 billion of commitments available for investments.
EQT Partners, acting as Investment Advisor to the general partners and managers of each EQT fund, has around 120 investment professionals with an extensive industrial and financial competence. EQT Partners and its affiliates have offices in Copenhagen, Frankfurt, Helsinki, Hong Kong, Oslo, London, Munich, New York, Shanghai, Singapore, Stockholm, Warsaw and Zurich.
More information can be found on www.eqt.se
About E.ON Energy from Waste
E.ON Energy from Waste is the market leading private energy-from-waste company in Germany and also active in Luxembourg and the Netherlands. It operates a total of 18 waste incineration plants and produces electricity, district heat and steam for industrial use. EEW operates an installed waste capacity of around 4.8 million tonnes and plays a vital part in the local energy infrastructure, producing 1,700 GWh of electricity and 2,400 GWh of heat or steam.
More information can be found on www.eon-energyfromwaste.com