EQT Infrastructure Limited (“EQT Infrastructure”) has reached a definitive agreement to sell Nordgroup A/S (“NORD” or the “Company”) to Ekokem Oyj (“Ekokem”), one of the leading waste and environmental management service providers in Finland and Sweden.
NORD was acquired by EQT Infrastructure in June 2010. It is the leading hazardous waste management company in Denmark and provides essential services to the society by incinerating hazardous waste and by supplying district heating and electricity to the local district heating network and electricity grid. The strategy has been focused on operational excellence, geographic expansion and on innovating treatment methods, both through organic growth and acquisitions. In particular, NORD has strengthened its offering within treatment of oil-contaminated water.
During EQT Infrastructure’s ownership NORD optimized its processes and increased the amount of hazardous waste incinerated per hour by 18%, reduced the standard cost per treated ton by 21% and reduced the fixed costs by 25%. Altogether, the operational improvements and expansion resulted in increased revenues and EBITDA by approximately 52% and 135%, respectively.
“The strong focus on operational excellence and commercialization has transformed NORD and today the Company is more efficient and better positioned. There is a strong industrial logic between NORD and Ekokem and together with Ekokem, we believe NORD can be part of the future evolution of the hazardous waste management industry,” says Stefan Glevén, Partner at EQT Partners AB, Investment Advisor to EQT Infrastructure.
“We have undergone a transformation none of us would have imagined at the time of the acquisition. I am really proud of what we have achieved in NORD together with EQT Infrastructure. Looking ahead, my colleagues and I remain excited to pursue NORD’s value creation plan with Ekokem as new owners,” says Carsten Fich, CEO of NORD.
EQT Infrastructure has been advised by ABG Sundal Collier, Kromann Reumert, EY and COWI. The transaction closed on January 29, 2015.
Stefan Glevén, Partner at EQT Partners, Investment Advisor to EQT Infrastructure, +46 8 506 55 316
Kerstin Danasten, EQT press spokesperson, +46 8 506 55 334
Carsten Fich, CEO NORD, +45 63 317 101
EQT is the leading private equity group in Northern Europe, with portfolio companies in Northern and Eastern Europe, Asia and the US with total sales of more than EUR 25 billion and over 500,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
EQT Infrastructure is a EUR 1.2 billion fund 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.
More information can be found on www.eqt.se
NORD is a specialist within sustainable Total Hazardous Waste Management. As one of Europe’s leading incineration facilities, NORD offers end-to-end solutions for all types of hazardous waste. For 40 years, NORD has ensured environmentally sound treatment of hazardous waste for the benefit of humans and the environment.
NORD minimizes risks for the industry, using Best-Available-Technology classified Waste-to-Energy techniques, recovers oil and metals and delivers full traceability throughout the process. NORD treats approximately 250,000 tons of hazardous waste and oily water per year.
More information can be found on www.nordgroup.eu
Ekokem was established in 1979, the shareholders being the Finnish state, municipalities and a large number of industrial companies. Ekokem provides its customers with solutions that improve material and energy efficiency in recycling, reutilisation and final disposal as well as soil remediation and environmental construction services in Finland and in Nordic projects. Ekokem saves natural resources by improving its customers’ material and energy efficiency, as well as by integrating environmental sustainability into its own operations.
More information can be found on www.ekokem.com