Evac to have new private equity owner

SEPTEMBER 28, 2017 — Private equity group Bridgepoint is to acquire Espoo, Finland, based Evac Group, for an undisclosed sum, from a fund managed by another private equity firm, IK Investment Partners, which acquired Evac in December 2014.

"During the past few years, we have strategically repositioned Evac from a component provider to a fully integrated cleantech solutions supplier, consequently further strengthening the company's position as the global market leader. We have only been able to do so with a talented management team at Evac, and we wish them continued success under Bridgepoint's ownership," said Kristian Carlsson Kemppinen, Partner at IK Investment Partners.

Evac is a leading supplier of environmentally friendly waste, wastewater, and water management systems for the marine, offshore, and building industries. Products include vacuum collection systems including, for instance, vacuum toilets, wastewater treatment plants purifying black and gray water, fresh water generation systems turning seawater into process, service and drinking water, as well as dry and wet waste systems used for managing food, mixed and recyclable waste.

Commenting on the acquisition by Bridgepoint, Evac Group CEO Tomi Gardemeister, said: "We very much look forward to working with the Bridgepoint and to the new perspectives they will bring. They share our ambitions for long term growth and will work with us to identify new areas in which to expand and will bring significant expertise in securing new growth and acquisition opportunities for the business."

Mika Herold, a director in Bridgepoint's Nordic investment team in Stockholm, said: "We're backing a global technology leader that is benefitting in particular from the growth in the global cruise industry. In addition we have also identified significant opportunities for it to expand within and beyond the maritime market either organically or by acquiring likeminded businesses serving new markets."

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