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EQT VII to Acquire Leading Mobile Filtration Technology Provider Desotec From AAC


News provided by

EQT AB

05 Jul, 2017, 08:29 GMT

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STOCKHOLM, July 5, 2017 /PRNewswire/ --

  • EQT VII to acquire Belgium based Desotec, a European market leader in mobile industrial filtration technology, from AAC Capital Partners
  • Desotec has pioneered the market for mobile activated carbon filters and has achieved strong top-line growth over the past decade
  • EQT VII to support Desotec on its continued growth and transformation journey by investing in the commercial organization and supporting further international expansion

The EQT VII fund ("EQT VII") has entered into an agreement to acquire Desotec (or "the company") from Private Equity firm AAC Capital Partners and other minority owners.

Founded in 1990, Desotec has pioneered the market for the purification of liquids and gases through mobile activated carbon filters. During its more than 25 years in business, the company has established itself as a European market leader in this field. Desotec provides a filtration technology that enables its customers to comply with increased environmental regulations and sustainability requirements and to serve mission-critical filtration needs offering a flexible rental solution.

The company operates three state-of-the-art reactivation furnaces with a combined annual total capacity of around 12,400 tonnes of output. In addition, it has a fleet of around 1,500 mobile filters. Desotec has achieved an average annual top-line growth of 16% over the past decade and in 2016 generated approximately EUR 50 million in sales. Desotec has 110 employees.

"We are very excited to have EQT as our new owner and look forward to working together closely. EQT's industrial approach, global presence and broad network will be of great value to Desotec as we embark on our next phase of growth. We believe that EQT's entrepreneurial spirit will be play an important part in our future success", says Desotec's CEO Mario Hertegonne.

Kristiaan Nieuwenburg, Partner at EQT Partners, Investment Advisor to EQT VII, says: "We are impressed by the high quality of Desotec's management and operations. The company has a true market leading position in the mobile filtration market, which it has successfully built over the past decade. We look forward to supporting the management team to expand into new markets and continue to invest in further growth".

Marc Staal, Managing Partner at AAC Capital, says: "During our investment period we expanded Desotec's footprint throughout Western-Europe resulting in an annual EBITDA growth of 17.5%. Together with Mario Hertegonne and his team we implemented a comprehensive market strategy, developed new applications through innovation and opened a third state-of-the-art reactivation furnace. We are confident that Desotec will continue to flourish under its new ownership and we wish the business and all its employees every success in the future".

The transaction is expected to close in August 2017. The parties have agreed not to disclose the transaction value.

Contacts:
Kristiaan Nieuwenburg
Partner at EQT Partners
Investment Advisor to EQT VII
+31-20-262-4001 

EQT Press office: +46-8-506-55-334

About EQT

EQT is a leading alternative investments firm with approximately EUR 37 billion in raised capital across 24 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About Desotec

Desotec is a leading European provider of mobile filtration technology through a unique and circular service concept. The company is headquartered in Roeselare, Belgium, and has established a pan-European platform with strategically located service centers in Spain and Poland and a workforce of 110 employees.

More info: www.desotec.com

About AAC

With offices in Amsterdam and Antwerp, AAC is a leading Benelux mid-market buy-out firm, which has to-date completed 31 management buyouts. It targets opportunities for majority stakes in profitable, cash-generative companies headquartered in the Benelux. AAC's deal size is typically between €10 and €150 million. AAC is a growth-oriented investor, with such companies in its portfolio as Verasol, Corilus, Lubbers Transport Group and Hobré Instruments.

More info: www.aaccapital.com

This information was brought to you by Cision http://news.cision.com

http://news.cision.com/eqt-ab/r/eqt-vii-to-acquire-leading-mobile-filtration-technology-provider-desotec-from-aac,c2302755

The following files are available for download:

http://mb.cision.com/Main/87/2302755/696933.pdf

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Related Links

http://www.eqtpartners.com

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