Financial Investors are the New Owners of the SULO Group, Based at Herford

Jan 22, 2004, 00:00 AM by User Not Found
Hamburg/Herford/Munich, 22 January 2004 – The European Commission, as the competition authority with responsibility, last week approved the purchase of 100% of the shares of the SULO Group, based in Herford, by funds that are advised by the two private equity companies Blackstone and Apax Partners. With this, the transaction has been successfully completed. It has been agreed that further financial details of the transaction will not be released.
  • European competition authorities give permission for the sale
  • Transaction successfully completed as a result
  • Leading international waste disposal company with turnover of over 700 million Euros, and over 6,000 employees

Hamburg/Herford/Munich, 22 January 2004 – The European Commission, as the competition authority with responsibility, last week approved the purchase of 100% of the shares of the SULO Group, based in Herford, by funds that are advised by the two private equity companies Blackstone and Apax Partners. With this, the transaction has been successfully completed. It has been agreed that further financial details of the transaction will not be released.

The SULO Group is a leading international company in the waste disposal industry, covering the entire range of disposal services, including disposal technology and the waste disposal business. The Group currently has sales of more than 700 million Euros and employs over 6,000 people world-wide.

The owners’ consortium, in which funds from Blackstone and Apax each hold 50%, plans to develop the SULO Group further while maintaining its current structure. Some thought is already being given to expanding the area of operations covered by the SULO Group, by making further acquisitions.

About Apax Partners:
Apax Partners is one of the world's leading private equity investment groups, operating across Europe, Israel, the United States and Japan. With over 30 years of direct investing experience, Apax Partners’ Funds provide long-term equity financing to entrepreneurs to build and strengthen world-class companies. It pursues a balanced equity portfolio strategy, investing in companies at all stages of development from early stage to buy-out. www.apax.com 

Apax Partners’ Funds invest in companies across its 6 chosen global sectors of: information technology; telecommunications; healthcare; media; financial services; retail and consumer. Some of Apax Partners Funds’ technology investments in Germany include Kabel Deutschland, Nordsee, Tank&Rast and IFCO Systems.

About Blackstone:
The Blackstone Group, a leading global investment firm, was founded in 1985. The firm has raised in excess of $25 billion for alternative asset investing since its formation, including over $14 billion for private equity investing. Blackstone Capital Partners IV is the largest institutional private equity fund ever raised at $6.45 billion. Blackstone is headquartered in New York and is advised on its European investments by offices in London and Hamburg. The latter office was recently opened to advise on fund investments in the German speaking and Northern European markets. Blackstone´s policy is only to pursue strictly friendly transactions. www.blackstone.com