M&A Deal Summary

Pangea Acquires Recover

On June 24, 2025, Pangea acquired environmental company Recover from EQT

Acquisition Highlights
  • This is Pangea’s 1st transaction in the Environmental sector.
  • This is Pangea’s 1st transaction in Norway.

M&A Deal Summary

Date 2025-06-24
Target Recover
Sector Environmental
Buyer(s) Pangea
Sellers(s) EQT
Deal Type Add-on Acquisition

Target

Recover

Oslo, Norway
Recover offers services including cleanup and reconstruction after fire, water, and environmental damage. The company serves clients within the property, shipbuilding industry, offshore and municipal and public sectors. Recover is based in Oslo, Norway.

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Buyer(S) 1

Buyer

Pangea

Norway

Category Company
Sector Business Services
DESCRIPTION

Pangea is an industrial investment company focused on fostering sustainable growth by partnering with innovative businesses across various industries. Pangea is based in Norway.


DEAL STATS #
Overall 1 of 1
Sector: Environmental M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
Country: Norway M&A 1 of 1
Year: 2025 M&A 1 of 1

Seller(S) 1

SELLER

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 193 of 194
Sector: Environmental M&A 5 of 5
Type: Add-on Acquisition M&A Deals 76 of 76
Country: Norway M&A 10 of 10
Year: 2025 M&A 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-05-29 Acumatica

Bellevue, Washington, United States

Acumatica is a provider of cloud-based business management software that enables small and mid-size companies to accelerate their businesses. Built on cloud and mobile technology and a unique customer-centric licensing model, Acumatica delivers a suite of fully integrated business management applications such as Financials, Project Accounting, Commerce, Manufacturing, Field Service and CRM, on a robust and flexible platform. Acumatica was founded in 2007 and is based in Bellevue, Washington.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-07-03 Europa Biosite

Täby, Sweden

Europa Biosite is an European distributor of life science products, dedicated to raising the standards of life science distribution. Europa Biosite is based in Täby, Sweden.

Buy -