Blackstone said on Thursday that private equity funds managed by Blackstone have agreed to acquire Belgium-based Desotec, a European environmental service company, from EQT Private Equity.
Desotec’s mission is to help protect the planet through innovative circular filtration solutions, enabling clean water, air, and soil, said Blackstone in a statement.
The company was founded in 1990 and is focusing on mobile purification solutions mainly based on activated carbon technology.
Desotec’s fleet of approximately 2,700 mobile filters is the largest of its kind in Europe and it serves a broad range of industrial applications, including air emission, biogas, remediation, wastewater, and chemicals.
The company’s mobile filters enable its customers to comply with environmental regulations and sustainability requirements, through its closed-loop, “Filtration-as-a-Service” rental solution.
Jürgen Pinker, Senior Managing Director at Blackstone, said: “We are proud to invest in an innovative, mission-driven environmental leader like Desotec. The company is a perfect fit for our core private equity strategy, which seeks to identify exceptionally high-quality businesses with strong tailwinds at their backs and support them for the long term. As the focus on environmental responsibility continues to increase globally, we believe Desotec is poised for significant further growth and look forward to partnering with Desotec’s management team in the years ahead.”
Mario Hertegonne, CEO of Desotec, said: “Today’s investment marks the beginning of a new chapter for Desotec as we continue our mission to better protect the planet. Together with Blackstone, we plan to accelerate our pan-European growth strategy and further expand our leading market position. We are excited about partnering with Blackstone to the benefit of our customers, employees and all stakeholders involved.”
The parties have agreed not to disclose the transaction value.