Private equity firm Agilitas has added to its portfolio of recycling companies by backing a management buyout of Danish firm MH Group.
The UK-headquartered firm will back current MH boss Christian Rindbol by acquiring the financial interests of Michael Henriksen Holdings. MH was founded by Michael Henriksen in 1997, but he died last year.
MH has around 240 employees and is one of Copenhagen’s largest providers of soil recycling through its subsidiary Norrecco.
The deal, thought to be in the region of €180m (£129m), is Agilitas’ fourth acquisition and second takeover in the waste management sector after it agreed to buy UK firm Impetus in December 2013.
Agilitas managing partner Martin Calderbank said: “The waste management sector is one we know and like. We see excellent opportunities to continue the rapid growth of the business.”
Rindbol said: “MH Group has evolved significantly since its establishment in 1997 and is entering the next phase of that evolution.”