Blackstone Agrees to Acquire DESOTEC, Leading European Environmental Services Company
March 18 2021 - 10:28AM
Business Wire
Blackstone (NYSE: BX) announced today that private equity funds
managed by Blackstone have agreed to acquire DESOTEC (the
“Company”), a leading European environmental service company, from
EQT. This investment aligns to Blackstone’s core private equity
strategy which is designed to hold investments in high-quality,
market-leading companies for longer periods than traditional
private equity.
Based in Roeselare, Belgium, DESOTEC’s mission is to help
protect the planet through innovative circular filtration
solutions, enabling clean water, air, and soil. The Company was
founded in 1990 and is focusing on mobile purification solutions
mainly based on activated carbon technology.
DESOTEC’s fleet of approximately 2,700 mobile filters is the
largest of its kind in Europe and it serves a broad range of
industrial applications, including air emission, biogas,
remediation, wastewater, and chemicals. The Company’s mobile
filters enable its customers to comply with environmental
regulations and sustainability requirements, through its
closed-loop, “Filtration-as-a-Service” rental solution.
Jürgen Pinker, Senior Managing Director at Blackstone, said: “We
are proud to invest in an innovative, mission-driven environmental
leader like DESOTEC. The company is a perfect fit for our core
private equity strategy, which seeks to identify exceptionally
high-quality businesses with strong tailwinds at their backs and
support them for the long term. As the focus on environmental
responsibility continues to increase globally, we believe DESOTEC
is poised for significant further growth and look forward to
partnering with DESOTEC's management team in the years ahead.”
Mario Hertegonne, CEO of DESOTEC, said: “Today's investment
marks the beginning of a new chapter for DESOTEC as we continue our
mission to better protect the planet. Together with Blackstone, we
plan to accelerate our pan-European growth strategy and further
expand our leading market position. We are excited about partnering
with Blackstone to the benefit of our customers, employees and all
stakeholders involved.”
About Blackstone
Blackstone is one of the world’s leading investment firms. We
seek to create positive economic impact and long-term value for our
investors, the companies we invest in, and the communities in which
we work. We do this by using extraordinary people and flexible
capital to help companies solve problems. Our $619 billion in
assets under management include investment vehicles focused on
private equity, real estate, public debt and equity, life sciences,
growth equity, opportunistic, non-investment grade credit, real
assets and secondary funds, all on a global basis. Further
information is available at www.blackstone.com. Follow Blackstone
on Twitter @Blackstone
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Giles Croot Giles.Croot@Blackstone.com +44 (0) 7881 749614
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