EQT to acquire KJ Environment and affiliated companies in South Korea

In Sweden, EQT announced that EQT Infrastructure has entered into a definitive agreement to acquire KJ Environment and affiliated companies from Genesis Private Equity, to establish a scaled and diversified end-to-end waste treatment platform focused on plastic recycling and waste-to-energy in South Korea.

The Platform comprises an end-to-end business portfolio in the waste treatment value chain, with core competencies in recyclable waste sorting, plastic recycling and waste-to-energy capabilities. It has strategically located sites in the Greater Seoul Metropolitan Area, serving catchment areas covering more than 50% of the country’s population and its GDP, said EQT

Sang Jun Suh, Partner in the EQT Infrastructure Advisory Team, said: “We are delighted to be partnering with KJ Environment and its talented management team. We look forward to applying EQT’s extensive experience investing in sustainable waste and recycling solutions across geographies, combined with our strong local footprint and industrial network, to help KJ Environment elevate into a true market leader in the waste treatment space. This investment also marks EQT’s latest milestone in South Korea, a market we believe holds tremendous potential and is strategically important to our regional investment strategy.”

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

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