EQT Infrastructure II has reached an agreement in principle to sell EEW Energy from Waste (EEW) to Beijing Enterprises Holding.
Throughout its ownership, EQT Infrastructure II has supported EEW in significant growth, both organically and through selected strategic acquisitions. The management team and corporate governance structure have been strengthened, and EQT Infrastructure II has driven transformation of EEW into a highly efficient organisation focused on providing long-term, environmentally friendly waste disposal solutions and energy-from-waste production.
Matthias Fackler, Partner at EQT Partners, Investment Advisor to EQT Infrastructure II, says: "Over the past three years, we have used our industrial expertise to support EEW in strengthening its core business processes. Under the leadership of a new management and complementary industrial board, this has led to broadening EEW's customer base and a very efficient organisation, setting the business up well for the future. We are convinced that Beijing Enterprises Holding is the right partner to support the further development of EEW including its continued domestic and international growth."
EQT Infrastructure II acquired a 51 per cent stake in EEW in March 2013, and developed the business in partnership with E.ON, one of Europe's largest energy groups. In April 2015, EQT Infrastructure II purchased the remaining 49 per cent of the shares after E.ON announced its group restructuring program.
Bernard Kemper, CEO of EEW, adds: "EQT's support and expertise have been instrumental to the optimization of business processes at EEW, and have provided a solid foundation for the company's further growth. We look forward to future success together with Beijing Enterprises Holding, and to the continued development of the company."