Montagu Private Equity and Global Infrastructure Partners (GIP) have exited UK waste services company Biffa via a debt-for-equity swap with the company's senior lenders.
Venture capital firm acquires the business from Munich-based PE and VC house Mic
GP is currently investing from its second fund, which writes equity cheques of €20-70m
Mentha sells the Dutch business to Clayton Dubilier & Rice portfolio company BrandSafway
Deal for automated carwash business brings to an end a three-year holding period for the GP