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M&A Deal Summary

EQT and Ardian Acquire Arcwood Environmental

On December 11, 2023, private equity firms EQT and Ardian acquired environmental company Arcwood Environmental

Acquisition Highlights
  • This is EQT’s 7th and Ardian’s 5th transaction in the Environmental sector.
  • This is EQT’s 49th and Ardian’s 66th transaction in the United States.
  • This is EQT’s 2nd and Ardian’s 2nd transaction in Indiana.

M&A Deal Summary
Date 2023-12-11
Target Arcwood Environmental
Sector Environmental
Buyer(s) EQT
Ardian
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Truist Securities (Financial)
Kirkland & Ellis (Legal)

Target

Arcwood Environmental

Indianapolis, Indiana, United States
Arcwood Environmental is a privately held, family-owned environmental services business that provides a full suite of tailored solutions from emergency response, waste disposal, and sustainability services to on-site support and technical solutions to thousands of customers in hundreds of industries and verticals. Arcwood Environmental was founded in 1970 and is based in Indianapolis, Indiana.

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Buyer(S) 2

Buyer

EQT

Stockholm, Sweden

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 242.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

EQT is a global private equity group that purses a variety of investment strategies around the world. EQT is divided into several investment disciplines, including private capital, real assets, credit, and venture. The Firm's private capital group targets large, market-leading enterprises (investment size of €125 to €1.5 billion) across Europe and the US, as well as mid-market, growth companies (investment size of €40 to €125 million) across the US, Europe, China, and Southeast Asia. The Firm's real assets group seeks to identify control or co-control equity investments (investment size of €500 to €1 billion) in medium-sized infrastructure companies that provide an essential service to society, are recession resilient, and have secure cash flows. EQT's credit group provides flexible, long-term debt capital solutions to medium-sized European businesses, across a wide range of sectors. EQT was established in 1994 and is headquartered in Stockholm, Sweden.

DEAL STATS #
Overall 288 of 318
Sector: Environmental M&A 7 of 9
Type: Buyout (LBO, MBO, MBI) M&A Deals 79 of 84
State: Indiana M&A 2 of 2
Country: United States M&A 49 of 60
Year: 2023 M&A 10 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-27 HRBrain

Osaka-shi, Japan

HRBrain is a one-stop cloud-based platform consisting of seven services for streamlining HR operations and centrally managing and utilizing HR data – the company’s flagship HRBrain Talent Management service, as well as Organizational Diagnostic Survey, Pulse Survey, Personnel Evaluation, 360-degree Review, Labor Management, and AI ChatBot for internal use. HRBrain is based in Osaka-shi, Japan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-18 Zeus

Orangeburg, South Carolina, United States

Zeus is a polymer extrusion manufacturer that develops advanced components for medical devices used in minimally invasive, life-saving procedures. Zeus Industrial Products is based in Orangeburg, South Carolina.

Buy -
Buyer

Ardian

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1996
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ardian is a mega-sized diversified investment group focused on opportunities worldwide. Ardian invests across and manages funds focused on small and mid-sized buyouts, growth capital financings, mezzanine, infrastructure, real estate, and co-investment opportunities. Ardian's small-buyouts group targets controlling interests in French, German, and Italian businesses valued up to €100 million. It's mid-sized buyout group seeks businesses valued up €1.5 billion and does not have any geographic limitations. The Infrastructure team looks for European opportunities and can commit up to €1 billion per transaction. The Mezzanine group supports junior capital commitments of €5 to €80 million. In addition to direct investing, Ardian also manages various private equity fund-of-funds. Ardian was founded in 1996 and is based in Paris.

DEAL STATS #
Overall 441 of 464
Sector: Environmental M&A 5 of 5
Type: Buyout (LBO, MBO, MBI) M&A Deals 116 of 123
State: Indiana M&A 2 of 2
Country: United States M&A 66 of 70
Year: 2023 M&A 14 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-28 Heathrow Airport

Hounslow, United Kingdom

Heathrow Airport is an international gateway and connecting to 234 destinations in over 85 nations and regions. Heathrow Airport was founded in 1946 and is based in Hounslow, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-18 Verlat Energy

Lime, Peru

Verlat Energy is a hydropower company, owns a fully operational portfolio of six run-of-river hydroelectric power plants with a total capacity of 73.4 MW. Verlat Energy was founded in 2011 and is based in Lime, Peru.

Buy -
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