M&A Deal Summary

Basalt Infrastructure Partners Acquires Reconor

On August 14, 2023, infrastructure investor Basalt Infrastructure Partners acquired environmental company Reconor from Agilitas Private Equity

Acquisition Highlights
  • This is Basalt Infrastructure Partners’ 1st transaction in the Environmental sector.
  • This is Basalt Infrastructure Partners’ 1st transaction in Denmark.

M&A Deal Summary
Date 2023-08-14
Target Reconor
Sector Environmental
Buyer(s) Basalt Infrastructure Partners
Sellers(s) Agilitas Private Equity
Deal Type Secondary Buyout

Target

Reconor

Farum, Denmark
Reconor is an environmental services group that provides environmentally safe recycling and helps municipalities with waste collection. The company reduces waste generation through the prevention, reduction, and reuse of material, and to reduce the use of natural resources through the application of circular economy principles. It remediates over 2.1 million tonnes of soil per year and handles over 0.8 million tonnes of mainly reusable waste, overseeing daily operations involving 230 trucks and 31,000 containers across Denmark. Reconor was formed in 1997 and is based in Farum, Denmark.

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Buyer(S) 1

Buyer

Basalt Infrastructure Partners

Investor Investor Investor Investor Investor

Category Infrastructure
Founded 2011
PE ASSETS 2.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Basalt Infrastructure Partners is an infrastucture investor focused on opportunities across North America and Europe. The Firm's principal areas of interest include utilities, energy, and transportation. Basalt prefers assets with significant barriers to entry, sustainable long-term cash-flows, and high operating margins. In addition to acquiring operational assets, the Basalt will also consider late stage construction projects. Basalt Infrastructure Partners was founded in 2011 and is headquartered in London.

DEAL STATS #
Overall 15 of 17
Sector (Environmental) 1 of 1
Type (Secondary Buyout) 5 of 6
Country (Denmark) 1 of 1
Year (2023) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-31 Fatbeam

Coeur d’Alene, Idaho, United States

Fatbeam is a provider of reliable fiber-based network solutions to enterprise, healthcare, government, and education customers looking to accelerate their growth in the Western US. Fatbeam’s extensive network footprint spans over 45,000 fiber miles, primarily in population-dense metropolitan areas within Arizona, Idaho, Montana, Nevada, Oregon, Washington, and Wyoming. Fatbeam was founded in 2010 and is based in Coeur d’Alene, Idaho.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-14 Fortbrand Services

Plainview, New York, United States

Fortbrand Services is a provider of maintenance and support equipment for the global aviation industry. Fortbrand’s Ground Support Equipment business provides sales, leasing, and short-term rentals of mission-critical ground support equipment to airlines, ground handling companies, and fixed base operators. The Company’s Airfield Maintenance Equipment business distributes and leases snow removal and maintenance equipment to airports. Fortbrand Services was founded in 1983 and is based in Plainview, New York.

Buy -

Seller(S) 1

SELLER

Agilitas Private Equity

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2011
Size Small
Type Sector Agnostic
DESCRIPTION

Agilitas Private Equity is a private investment group focused on acquiring European businesses exhibiting significant barriers to entry, long-term customer relationships, and differentiated resources. Agilitas will consider businesses with complex business models or transaction structures. Agilitas Private Equity was established in 2011 and is based in London.

DEAL STATS #
Overall 5 of 5
Sector (Environmental) 3 of 3
Type (Secondary Buyout) 4 of 4
Country (Denmark) 1 of 1
Year (2023) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-26 Hydro International

Clevedon, United Kingdom

Hydro International is a provider of products and services related to wastewater treatment. Hydro International was founded in 1980 and is based in Clevedon, United Kingdom.

Sell -
Mergr

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