Global investment organization EQT announced today that its EQT Mid Market Europe fund (EQT Private Equity’) has acquired a 15% minority stake in European environmental services company DESOTEC, investing alongside leading private equity and alternative asset manager Blackstone.

DESOTEC is a leading manufacturer and provider of activated carbon solutions, with products aimed at a broad range of industrial applications including treatment of wastewater, process water, solvent removal, odour treatment, and biogas cleaning.

EQT VII acquired DESOTEC in 2017, and in March, announced an agreement for Blackstone to buy the company, with the transaction including an option for EQT Mid Market Europe to co-invest alongside Blackstone for a minority position with board representation. With today’s announcement, EQT is exercising its option. EQT stated that it will continue to support DESOTEC alongside Blackstone on its mission to better protect the planet.

Vesa Koskinen, Partner in EQT Private Equity’s advisory team, said:

“We are impressed by the achievements of DESOTEC and its management. The Company has grown into a true environmental services leader that is well positioned for further growth. We look forward to continuing our partnership with DESOTEC’s management as we start the next chapter of the Company’s mission to better protect the planet.”