EQT has acquired the remaining 49 percent stake that it did not own in EEW Energy from Waste. The seller was E.ON. No financial terms were disclosed. In March 2013, EQT bought a 51 percent stake in EEW, a European energy from waste company.
EQT Infrastructure II has acquired the remaining 49% stake in EEW Energy from Waste from E.ON after having acquired 51% of the shares in March 2013
During the joint ownership, EQT Infrastructure II and E.ON have implemented a comprehensive operational excellence program and successfully pursued market consolidation
EQT Infrastructure II, backed by a strong group of senior industry experts, will continue to support further development
The EQT Infrastructure II Fund has acquired the remaining 49% stake in EEW Energy from Waste (“EEW” or the “Company”) from E.ON, one of Europe’s largest energy groups.
In parallel with the transaction, the EEW Advisory Board has been strengthened with additional expertise from the waste management and energy sectors. The Board, chaired by Jürgen Rauen (former President of Veolia Environment Deutschland and former CEO of Sulo Group) has been complemented by Amedeo Vaccani (formerly in various senior roles at ABB Power Generation) and Ewald Woste (formerly CEO of Thüga).
EEW is the market leading energy-from-waste company in Germany, also active in Luxembourg and the Netherlands. It operates 19 waste incineration plants and produces electricity, district heat and steam for industrial use. 13 of the 19 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, frequently updated to meet the latest technological standards. EEW operates an installed waste capacity of around 4.9 million tonnes making an important contribution to the European sustainable economy and playing a vital part in the local energy infrastructure, producing 1,900 GWh of electricity and 3,000 GWh of heat and steam.
“Over the last two years, EQT Infrastructure and E.ON have jointly contributed to EEW’s development, allowing EEW to improve its competitive position. The acquisition of the remaining stake is a result of EQT Infrastructure’s strong belief in EEW’s further potential and also a continuation of the fund’s strategy to invest in the European energy sector. We look forward to continue working together with EEW’s management, employees and the board of senior industry experts to take the Company to the next level,” says Matthias Fackler, Partner at EQT Partners GmbH, Investment Advisor to EQT Infrastructure II.
In 2014, EEW had sales of EUR 539 million and 1,210 employees.
EQT is the leading private equity group in Northern Europe, with portfolio companies in Europe, Asia and the US with total sales of more than EUR 17 billion and approximately 140,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
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 with total commitments of EUR 1.9 billion. Investment targets are regulated infrastructure, concession-based infrastructure, market-based infrastructure and infrastructure-related services.
For further information please visit www.eqt.se
ABOUT EEW ENERGY FROM WASTE
EEW Energy from Waste is the market leading energy-from-waste Company in Germany, also active in Luxembourg and the Netherlands. It operates a total of 19 waste incineration plants and produces electricity, district heat and steam for industrial use. EEW operates an installed waste capacity of around 4.9 million tonnes and plays a vital part in the local energy infrastructure, producing 1,900 GWh of electricity and 3,000 GWh of heat and steam.
More information can be found on eew-energyfromwaste.com