Blackstone and EQT team up to acquire Urbaser, with a total transaction value reaching a record high of 5.6 billion euros

Environmental services sector welcomes a major M&A deal. Platinum Equity recently announced the full sale of its environmental company Urbaser to a joint acquirer composed of Blackstone Group LP and Swedish private equity fund EQT. The transaction values Urbaser at $6.6 billion, approximately €5.6 billion, making it one of the largest recent equity acquisitions in Europe’s environmental industry.

Platinum Equity’s Strategic Exit, Environmental Giant Welcomes New Owner

Urbaser is a leading comprehensive environmental service provider in Europe, covering waste management, urban cleaning, and sanitation services. Platinum Equity’s complete sale of its stake marks the end of its investment cycle in this asset. The joint acquisition by Blackstone and EQT reflects strong confidence in the long-term growth potential of the environmental sector. The $6.6 billion deal also sets a new record in this field.

Blackstone and EQT Join Forces, Accelerating Global Expansion

This acquisition alliance leverages the complementary strengths of both firms. Blackstone, one of the world’s largest asset managers, has extensive experience and a global network in infrastructure investments; EQT, a leading private equity firm in Scandinavia, has rich experience in local market operations and regional expansion. Together, they will actively promote Urbaser’s deep engagement in the global waste management market, while upgrading infrastructure and optimizing operations to enhance competitiveness.

Antitrust Approval Completed, €5.6 Billion Deal Finalized

The transaction has received approval from relevant regulatory authorities and is scheduled to close in the second half of 2024. The €5.6 billion total transaction amount demonstrates capital’s recognition of Urbaser’s long-term value in environmental and urban services. As global demand for environmental solutions continues to rise, similar industry mergers and acquisitions are expected to remain a key focus for private equity investments.