By Dominic Chopping
STOCKHOLM--Swedish private-equity firm EQT AB said Tuesday that it has made its first investment as part of a new strategy that focuses on longer-term investments by buying into pest-control company Anticimex.
The investment in Stockholm-based Anticimex is made together with long-term investors such as Melker Schorling AB, which will be the second largest shareholder, GIC, AMF, Interogo Holding Long-Term Equity and Alecta, it said.
Anticimex is being sold by the EQT VI fund and has an enterprise value of 60 billion Swedish kronor ($7.26 billion), it added.
Further financial details weren't disclosed.
"Having a positive impact on societal and environmental problems takes huge investments, real commitment, and time," said Per Franzen, partner and head of EQT private capital's advisory teams.
"To meet these challenges, we are introducing a longer-hold strategy to capture the largest business opportunity of our time, spotting investment opportunities that will reshape the future."
The transaction is expected to close in the fourth quarter of 2021.
Write to Dominic Chopping at firstname.lastname@example.org
(END) Dow Jones Newswires