EQT Infrastructure, a global investment firm, has agreed to acquire KJ Environment and its affiliated companies, a leading waste treatment platform in South Korea, from Genesis Private Equity. The deal marks EQT’s second infrastructure investment in the country.
KJ Environment operates an end-to-end waste treatment business, including recyclable waste sorting, plastic recycling, and waste-to-energy capabilities. The company has strategically located sites in the Greater Seoul Metropolitan Area, serving over 50% of South Korea’s population and GDP.
The acquisition comes as global demand for recycled plastic is expected to increase due to strengthened regulations and voluntary commitments from companies. EQT plans to support KJ Environment’s growth by providing capital and operational expertise, introducing automation and digital solutions, and building trust with local communities.
The transaction is subject to customary conditions and approvals and is expected to close in Q4 2024. EQT was advised by JP Morgan, Kim & Chang, and PwC on the deal.
This acquisition highlights EQT’s focus on investing in climate-related infrastructure opportunities and supporting resource efficiency and a circular economy. The firm has been investing in South Korea since 2009 and views the market as a key part of its Asia Pacific strategy.
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