Partners Group Acquires Fortum's Baltic District Heating Platform

Bregal Unternehmerkapital, with Partners Group financing, acquires majority stake in MDT technologies

September 15, 2026

IT Services

Partners Group provided more than €300 million in senior financing to support Bregal Unternehmerkapital’s acquisition of a majority stake in MDT technologies, a European smart building automation company. The financing supports MDT’s next phase of expansion, including international growth and further investment in its hardware/software portfolio and complementary acquisitions.

Transwestern Acquires Forte Real Estate Partners

July 7, 2026

Real Estate

Transwestern announced it has acquired Forte Real Estate Partners, a commercial real estate firm based in the Twin Cities. The deal adds Forte’s healthcare, office, and industrial tenant advisory team members and expands Transwestern’s property management portfolio in the Minneapolis–St. Paul market.

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.

DIF Capital Partners Acquires Majority Stake in Pinnacle Power Limited

April 5, 2023

Energy

DIF Capital Partners has signed an agreement to acquire a significant majority stake in UK district heating developer and operator Pinnacle Power Limited via its DIF Infrastructure VII fund, with Pinnacle Power management retaining a minority stake and Pinnacle Group Limited exiting as the previous shareholder. The investment will fund the development, ownership and expansion of city-scale district heating networks across the UK, supporting projects such as the Greenwich Peninsula network and accelerating the transition to low-carbon heat.

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

March 22, 2022

Energy

A consortium of Hafslund Eco, Infranode and HitecVision has completed the acquisition of Fortum Oslo Varme, which will be renamed Hafslund Oslo Celsio. Hafslund Eco holds a 60% majority stake while Infranode and HitecVision hold 20% each; the partnership plans ~NOK 10 billion of investments including NOK 1.4 billion for a CCS project at the Klemetsrud waste-to-energy plant and major district cooling investments.

Antin Infrastructure Partners Acquires Veolia's US District Energy Business

July 31, 2019

Energy

Antin Infrastructure Partners agreed to acquire Veolia Environnement's US district energy business for an enterprise value of $1.25 billion. The business — the largest district energy provider in the United States, operating 13 district heating/cooling systems and employing more than 400 people — will be run as a standalone platform to pursue optimization, network densification, energy services and further growth.