Hafslund Eco, Infranode and HitecVision Acquire Fortum Oslo Varme (Hafslund Oslo Celsio)

Summa Equity (via NG Group) Acquires Fortum Recycling & Waste from Fortum

December 2, 2024

Environmental Services

Summa Equity, through its portfolio company NG Group, has completed the acquisition of Fortum Recycling & Waste from Fortum Corporation for approximately EUR 800 million on a debt- and cash-free basis. The deal combines Fortum's recycling and waste business (≈900 employees) with NG Group to create a Nordic circular-economy leader with combined revenues of about EUR 1.2 billion, ~3,500 employees and expanded hazardous-waste and recycling capabilities.

DNO ASA Acquires Sval Energi Group AS from HitecVision

January 1, 2025

Oil & Gas

DNO ASA has agreed to acquire 100% of Sval Energi Group AS from HitecVision for USD 450 million in cash (enterprise value USD 1.6 billion). The acquisition significantly increases DNO's North Sea production and reserves, adding a cash-generative portfolio with limited near-term investment needs and a team of 93 employees to be integrated.

Arendals Fossekompani, Advent International and Generation Invest in Volue ASA

October 28, 2024

Software

Arendals Fossekompani, Advent International and Generation Investment Management, via their acquisition vehicle Edison Bidco, have completed a voluntary tender offer to acquire Volue ASA. The take-private buyout positions Volue to accelerate growth as a supplier of software and data solutions to the energy and infrastructure sectors, supporting both organic expansion and future add-on acquisitions.

Partners Group Acquires Fortum's Baltic District Heating Platform

March 12, 2021

Energy

Partners Group, on behalf of its clients, has agreed to acquire Fortum Corporation’s district heating business in the Baltics (the "District Heating Platform"). The platform operates across Estonia, Latvia and Lithuania with 74 generation assets and ~387 km of networks; Partners Group plans to build the business into an independent, customer‑centric residential and industrial energy solutions provider and pursue greenfield projects and strategic add‑on acquisitions.

Equinor and SSE Thermal Acquire Triton Power from Energy Capital Partners

June 28, 2022

Energy

Equinor and SSE Thermal have completed the £341 million acquisition of Triton Power from Energy Capital Partners, forming a 50:50 joint venture to own Triton. The deal includes the 1.2 GW Saltend Power Station and positions the buyers to decarbonise flexible power generation — including plans to prepare Saltend to run on up to 30% hydrogen from 2027 and eventual conversion to hydrogen — while supporting Equinor's H2H Saltend hydrogen project.

HitecVision Acquires Majority Stake in Vow Green Metals

July 4, 2025

Renewable Energy

HitecVision has completed its acquisition of a 91.4% stake in Vow Green Metals (via its vehicle Midas Industri AS), becoming the company's majority shareholder and initiating a delisting from Euronext Growth Oslo. The new ownership will support Vow Green Metals' plan to scale biocarbon production capacity across Norway and develop an integrated industrial platform to supply metallurgical and other heavy industries.