The private equity fund Summa Equity has acquired the Finnish energy group Fortum’s business area Recycling & Waste for EUR 800m. (approx. DKK 6bn) through its portfolio company NG Group.
The business area Recycling & Waste comprises municipal and industrial waste management and end-to-end plastics, metals, ash, slag and hazardous waste treatment and recycling services. Recycling & Waste has activities in Finland, Sweden, Denmark and Norway and has approx. 900 employees.
The Danish part of the transaction comprises the company Fortum Waste Solutions A/S, formerly Kommunekemi in Denmark, which is located in Nyborg and is one of Denmark’s largest incineration plants for hazardous waste.
Summa Equity was formed in 2016 and is a financial investor focusing on the business areas resource efficiency, changing demographics and technology-enabled transformation. Summa Equity manages assets of approx. EUR 5bn and has made more than 30 platform investments across three funds.
The transaction is subject to the usual public authority approvals and is expected to be completed in the fourth quarter of 2024.
Accura advised Summa Equity in connection with the transaction in collaboration with lead counsel Avance.