Photo: STEFAAN BEEL
EQT, the investment vehicle of the wealthy Swedish family Wallenberg, is working on an exit from the environmental technology company Desotec. De Tijd reported this on Friday. It’s likely one of the bigger Belgian deals of 2021, the newspaper writes.
Desotec specializes in filter systems with activated carbon as a basic component. The company was founded in 1990 by Joost Desmet (CEO) and the Sobry family, who also own the Zoutman salt company. In 2011 they passed the torch on to the investment fund AAC Capital, which was replaced by EQT as the main shareholder in mid-2017. The West Flemish environmental gem then stole it from entrepreneur-investor Filip Balcaen.
More than three years later, EQT believes it’s time to get out. She has hired the Rothschild Investment Bank to lead this process. CEO Mario Hertegonne confirms the appointment of the investment bank. The Scandinavian investment fund has owned more than 90 percent of the shares in the environmental technology company since the acquisition. The rest is in the hands of management.
Desotec’s headquarters are in Roeselare. However, the group also has locations in Poland, Italy and Spain as well as branches in Germany, Great Britain, Scandinavia and France.