Waga Energy receives acquisition bid

EQT AB has entered into exclusive negotiations with Waga Energy to acquire the provider of landfill gas-to-energy technology.

EQT, based in Sweden, indicates it is negotiating to undertake a block acquisition and subsequent mandatory simplified public tender offer for the shares of Waga Energy.

Waga is a France-based producer of “competitively priced" renewable natural gas (RNG, also known as biomethane) that is made by upgrading landfill gas using a patented purification technology called Wagabox. The company operates 30 RNG production units across France, Spain, Canada and the United States, and has an additional 20 RNG production units under construction worldwide.

EQT says it is a “purpose-driven global investment organization that focuses on buying good companies and making them great.”

Regarding the potential Waga transaction, EQT says it would part of its EQT Transition Infrastructure strategy.

EQT’s lengthy list of portfolio companies includes several with waste management or recycling aspects to their operations.

The $307 billion investment group has stakes in: Ireland-based software provider AMCS; Indianapolis-based industrial waste management firm Arcwood Environmental (formerly known as Heritage Environmental Services); North Carolina-based battery materials company Cirba Solutions; London-based waste-to-energy firm Encyclis; New Jersey-based waste-to-energy plant operator ReWorld; and France-based textiles recycling firm Syntetica.