The Firm is representing EQT Infrastructure VI in its acquisition of a majority position in Heritage Environmental Services from The Heritage Group. The Heritage Group will continue to remain a shareholder in the company following the closing. The transaction is subject to customary conditions and approvals and is expected to close in the first quarter of 2024. Financial terms were not disclosed.
Heritage Environmental Services is headquartered in Indianapolis, IN and has 37 highly regulated facilities strategically located in key industrial hubs across the U.S. The company and its nearly 1,600 full-time team members safely manage approximately 660 thousand tons of industrial waste per year for more than 1,800 customers. The company has a wide array of tailored solutions from waste disposal, on-site support, and technical solutions to emergency response and sustainability services, address customers’ complex waste problems across more than a thousand waste types.
EQT is a purpose-driven global investment organization with EUR 232 billion in total assets under management (EUR 128 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.
The Simpson Thacher team includes: Michael T. Holick, Mark Myott, Daniel Lee, Shaneel Parikh, Jonathan Madorsky, Matt Walls, Minaal Wickremesinghe and William Lyoo (M&A); Eli Isak, Jackie Song and Constantine Valettas (Banking and Credit); Toby Chun and Noreen Lavan (Environmental); Jonathan Goldstein, William Smolinski and Adam Hersch (Tax); David Rubinsky, Ryan Stott and Allison Sutherland (Executive Compensation and Benefits); Lori Lesser, Melanie Jolson, Mark Natividad and Bobbie Burrows (IP); Krista McManus and Helene Snyder (Real Estate); Vandana Harris and Christine MacVicar (Private Funds); and Steven DeLott (Insurance).