EQT to Establish Leading Waste Management Platform in South Korea with Acquisition of KJ Environment

EQT to Establish Leading Waste Management Platform in South Korea with Acquisition of KJ Environment

(IN BRIEF) EQT Infrastructure VI has acquired KJ Environment and its affiliated companies in South Korea to create a leading waste management platform focused on plastic recycling and waste-to-energy. This acquisition aligns with EQT’s strategy of investing in sustainable infrastructure in the Asia-Pacific region and will help KJ Environment expand its operations and capabilities. The deal is expected to close in Q4 2024, pending regulatory approvals.

(PRESS RELEASE) STOCKHOLM, 16-Aug-2024 — /EuropaWire/ — EQT Infrastructure VI (“EQT”) has announced the acquisition of KJ Environment and its affiliated companies, a major player in South Korea’s waste treatment sector. This strategic acquisition will create a comprehensive waste management platform focusing on plastic recycling and waste-to-energy solutions, reinforcing EQT’s commitment to sustainable infrastructure and the circular economy.

KJ Environment operates a fully integrated waste management business, encompassing waste sorting, plastic recycling, and energy recovery from waste. With facilities strategically located in the Greater Seoul Metropolitan Area, the platform serves over 50% of South Korea’s population and GDP, positioning it as a key player in the nation’s waste management landscape.

As a leading recycler of plastic in South Korea, KJ Environment is equipped with advanced technologies to produce high-quality recycled plastics suitable for food-grade applications. This positions the company to capitalize on the growing global demand for recycled materials, driven by stricter regulations and increased commitments from the private sector to reduce environmental impact.

EQT’s investment in KJ Environment aligns with its focus on climate-related infrastructure opportunities in the Asia-Pacific region. The partnership will provide KJ Environment with the capital and operational expertise needed to expand its capabilities, including the introduction of automated and digital solutions, deepening customer relationships, and building community trust.

Sang Jun Suh, Partner at EQT Infrastructure Advisory Team, expressed enthusiasm for the partnership: “KJ Environment’s strong market presence and innovative approach to waste management make it an ideal partner for EQT. We are excited to leverage our global experience in sustainable waste solutions to help KJ Environment reach new heights and become a leader in South Korea’s waste treatment industry. This acquisition underscores our commitment to supporting the growth of essential infrastructure in the Asia-Pacific region.”

This acquisition marks EQT’s second infrastructure investment in South Korea and is part of a broader strategy to invest in environmentally sustainable projects across the region. Since 2020, EQT Infrastructure has committed EUR 5 billion to Asia-Pacific companies, reinforcing its dedication to supporting businesses that drive positive environmental impact.

The transaction is expected to close in Q4 2024, subject to regulatory approvals and customary conditions.

About EQT
EQT is a purpose-driven global investment organization with EUR 246 billion in total assets under management (EUR 133 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

With its roots in the Wallenberg family’s entrepreneurial mindset and philosophy of long-term ownership, EQT is guided by a set of strong values and a distinct corporate culture. EQT manages and advises funds and vehicles that invest across the world with the mission to future-proof companies, generate attractive returns and make a positive impact with everything EQT does.

The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in more than 25 countries across Europe, Asia and the Americas and has more than 1,800 employees.

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The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT Infrastructure VI will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

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Email: press@eqtpartners.com

SOURCE: EQT