EQT Infrastructure to Acquire Covanta Holding Corporation for $5.3 Billion

Covanta Acquires Globalcycle and Global Remediation Services

January 5, 2023

Environmental Services

Covanta, a PE‑backed sustainable materials management company, has acquired Massachusetts‑based Globalcycle and Global Remediation Services to expand its wastewater treatment, recycling and environmental remediation capabilities in New England. The deals serve as add‑on acquisitions to Covanta (under the direction of EQT Infrastructure), accelerating the company’s presence and last‑mile sustainability services in the highly regulated New England market.

Covanta Acquires Circon Holdings from Kinderhook Industries

May 1, 2023

Environmental Services

Covanta has entered into a definitive agreement to acquire Circon Holdings, Inc., a Kinderhook Industries portfolio company, in a transaction that adds more than 600 employees and some 2,500 customers to Covanta's platform. The acquisition (subject to customary regulatory approvals) significantly expands Covanta's wastewater footprint, multiplies its engineered fuels business, and broadens its Gulf Coast and Midwest geographic presence.

Covanta Acquires Miller Environmental Transfer

July 20, 2022

Environmental Services

Covanta has acquired Miller Environmental Transfer (MET), a Tulsa-based provider of waste transportation and treatment services that serves the South-Central United States. The deal expands Covanta's sustainable materials management capabilities—including carbon-neutral offerings—and strengthens operations around its Tulsa waste-to-energy facility.

Covanta Acquires BIOLOGIC Environmental Services and Waste Solutions

August 29, 2022

Environmental Services

Covanta has acquired BIOLOGIC Environmental Services and Waste Solutions, a California-based regulated waste management firm, and will integrate Biologic's Northern and Southern California facilities into its portfolio. The deal expands Covanta's western U.S. footprint and adds regulated/medical and maritime waste handling capabilities to support its sustainable materials management strategy.

EQT (via Otello BidCo AB) Acquires OX2 AB

October 8, 2024

Energy

EQT Infrastructure VI, through acquisition vehicle Otello BidCo AB, completed a recommended public offer to acquire 100% of OX2 AB at SEK 60 per share and now controls 98.81% of the company; OX2 has applied for delisting from Nasdaq Stockholm. EQT says it will support OX2's evolution from a pure developer to an integrated renewables developer and asset owner and provide additional investment to grow the company's pipeline across onshore/offshore wind, solar and storage.

EQT Infrastructure Acquires Majority Stake in Heritage Environmental Services

December 11, 2023

Environmental Services

EQT Infrastructure VI has agreed to acquire a majority position in Heritage Environmental Services (HES) from The Heritage Group. HES, headquartered in Indianapolis, Indiana, operates 37 regulated facilities in the U.S., employs roughly 1,600 people, and provides industrial and hazardous waste management, on‑site support, emergency response and sustainability services to more than 1,800 customers; EQT says it will support HES's growth, digitalization and operational improvements.