听Impact investment firm Summa Equity announces the completion of its acquisition of Fortum Recycling & Waste through NG Group. This transaction aims to establish the Nordic leader in the circular economy by combining the strengths of both entities.听By managing all waste streams, especially hazardous waste, the companies provide an essential service to the population by converting these waste streams into valuable resources for the circular economy. The combined entity will have a total revenue of approximately EUR 1.2 billion. Together, they will employ approximately 3,500 people, handle over 4.4 million tons of waste annually and operate across the Nordics.听
Reynir Indahl, Founder and Managing Partner at Summa, comments: 鈥淭he Circular Revolution is a trillion-dollar opportunity hiding in plain sight. There is a clear path towards EU circular markets potentially becoming worth EUR 1.5 trillion by 2040, saving 650 Mt CO2e annually and creating hundreds of thousands of jobs. By combining Summa鈥檚 NG Group with Fortum Recycling & Waste business, we are creating a Nordic leader aligned with EU Taxonomy.鈥�听
Bertrand Camus, Partner at Summa and Chairman of the Board, NG Group, comments: “Fortum Recycling & Waste recently stunned the industry by successfully creating the world鈥檚 first biodegradable plastic produced from CO2 emissions. By joining forces with NG Group, we are uniting our strengths to become a vital component of the Nordic industrial infrastructure. Waste-to-resources will be one of the most attractive investment opportunities in private equity over the next ten years.鈥�听
With the completion of the transaction, Summa announces the appointment of Bj酶rn Arve Ofstad as the new Group CEO of the combined company. Ofstad currently serves as Group CEO of NG Group, bringing extensive experience in leadership and deep industry expertise, backed by a proven track record of success.听Bj酶rn Arve Ofstad, Group CEO at NG Group, comments: 鈥淭ogether, we will become 3,500 colleagues providing tailored, innovative solutions across the entire value chain, adding value at every step. A leading Nordic provider of circular solutions and environmental services, helping customers decarbonize, achieve recycling targets, protect nature and remain competitive. Fortum Recycling & Waste鈥檚 strong company culture and expertise in hazardous waste management align well with NG Group. Additionally, the majority of its revenue aligns with the EU Taxonomy, highlighting their strong commitment to sustainability.鈥�听
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