Blackstone Buys European Environmental Service Company From EQT
March 18 2021 - 11:39AM
Dow Jones News
By Robb M. Stewart
Blackstone Group Inc. has struck a deal to buy European
environmental service company Desotec from EQT Corp. for an
undisclosed amount.
The investment firm, which has $619 billion in assets under
management, said the acquisition aligns with a core private equity
strategy designed to hold investments in high-quality,
market-leading companies for longer periods than traditional
private equity.
EQT bought Desotec in 2017 and said it has since made
significant investments in its sales and digital capabilities,
supporting technology and research and development investments for
the company's filters and furnaces.
Based in Roeselare, Belgium, Desotec is a leading European
environmental services company. Founded in 1990, it is focused on
mobile purification solutions mainly based on activated carbon
technology, with a fleet of about 2,700 mobile filters that serves
a range of industrial applications, including air emission, biogas,
remediation, wastewater, and chemicals, EQT said.
EQT said the parties have agreed not to disclose the value of
the transaction, which is expected to close in the second quarter
of the year.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
March 18, 2021 11:24 ET (15:24 GMT)
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