EQT AB is reportedly close to acquiring a majority stake in European environmental services provider Desotec from Blackstone Inc, just four years after the US private equity firm purchased the business, according to a report by Bloomberg citing unnamed sources familiar with the matter.
The deal, expected to be announced imminently, could value Desotec, based in Roeselare, Belgium, at around €2bn including debt. Blackstone is set to retain a minority stake post-transaction. EQT is investing through its EQT Future vehicle and will build on a 15% minority holding already held by EQT Mid Market Europe.
The potential transaction highlights renewed private equity dealmaking in Europe, driven by strong equity valuations and increasing pressure on funds to monetise assets and return capital to investors.
