DENMARK - EQT Infrastructure acquires Kommunekemi for EUR 35m

The deal value comprised of 65% equity and 35% debt, provided by Nordea. As part of the transaction, management will take a minority stake in the business.

Kommunekemi treats hazardous waste and sells electricity and heat generated from the incineration process, providing Nyborg with around 90% of its distributed heating. The company has three incineration lines in its Nyborg plant, with a capacity of approximately 185,000 ton per year. It currently employs 200.

Kommunekemi started its operations some 35 years ago, when hazardous waste treament was a public sector service provided by the local municipalities. From 1 January 2010 this type of waste management will be fully privatised.

The deal marks EQT's second investment from the EUR 1.2bn infrastructure fund which closed above target in November 2008.

Kommunekemi was advised by corporate financiers FIH Partners and law firm Bech-Bruun. Nordea Corporate Finance acted as financal adviser to EQT, with Kromann Reumert providing legal advice.

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• Buyouts
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• Infrastructure