Press release (read the original English press release)
Blue Phoenix Group has entered into a binding agreement to acquire Meldgaard Sustain A/S and Meldgaard Recycling A/S, representing Meldgaard's entire slag business.
The company has more than 25 years of experience in sorting and recycling slag from combined heat and power plants, where they recover various metals and recycle slag gravel. In Denmark, Meldgaard has around 75 employees working with slag treatment, and the company currently receives just over half of the total slag from the country's incineration plants. Meldgaard's largest slag treatment plant is located in Kolding.
The acquisition marks a significant expansion of BPG's activities in Denmark to now also include slag, which is the company's core business. Last year, BPG acquired the resource company Blue Phoenix, which is among the country's largest processors of soil and construction waste.
Nicolai Søegaard, CEO of Blue Phoenix, says:
"The acquisition of Meldgaard's slag business is significant in a Danish context and a natural consequence of Blue Phoenix becoming part of BPG in 2024. This significantly expands our recycling capacities in Denmark. Personally, I look forward to welcoming the talented Meldgaard employees and management to our company.. "
Paul Knight, CEO of BPG, further explains:
"The acquisition is a milestone for BPG. It expands our presence in Denmark through Blue Phoenix and strengthens our position in the Nordics. Meldgaard brings more than 25 years of expertise in slag treatment, especially with advanced mobile plants, which we see great potential in. We look forward to contributing to the utilization of slag gravel in Denmark.”
The Meldgaard family, speaking:
"Meldgaard Recycling has been an important part of Meldgaard for more than 25 years, and it is therefore particularly difficult to say goodbye to our talented employees. We are pleased with the sale, as we believe that the expertise we have built up in Denmark can now be further developed into something even greater."
Anders Hedegaard, founder and co-owner of Meldgaard Recycling, adds:
“I look forward to continuing the journey, which offers many exciting opportunities. I look forward to collaborating, thinking new things and creating further growth in our ever-expanding international markets.”
The acquisition is now awaiting final approval from the authorities.
Nordea Corporate Finance acted as exclusive financial advisor, and Kromann Reumert as exclusive legal advisor to BPG.
Direct press contact
Simon Leed Krøs | Communications Manager | Blue Phoenix | sl**@*******ic.com | M: +45 3051 6140
ADDITIONAL MEDIA CONTACTS
BPG
Amy de Jong-Townsend | BPG | to******@***************up.com | +31 (0) 6 51 17 39 26
InfraVia
Antoine Denry | Taddeo | an***********@****eo.fr | +33 (0) 6 18 07 83 27
Clémence Midière | Taddeo | cl**************@****eo.fr | +33 (0) 6 46 76 70 22
Gwenaëlle Boucly | InfraVia Communications Director | gb*****@*************al.com | +33 (0) 6 80 57 33 01
Daiwa International Capital Partners
Gregor Jackson | CEO, Daiwa ICP | gr************@*******cp.com | +44 (0) 20 4551 2778
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About BPG
BPG builds, owns and operates waste treatment facilities globally, helping industries divert materials from landfills and secondary circular resources back into the economy. BPG's mission to build a more sustainable future has led the company to grow into a multi-disciplinary waste management group.
The Group consists of several divisions, from which Blue Phoenix operates in the recycling of materials from incinerator bottom ash (IBA) with activities in the UK, US, EU, Asia and Australia. The metals refining division, QR Metals, operates from Europe and further upgrades recycled non-ferrous metals to smelter grades. BPG entered the soil remediation and construction waste recycling market in 2024 with the acquisition of Blue Phoenix in Denmark. In the same year, BPG also acquired Recycling Kombinatie REKO BV (REKO), which specializes in the recycling of tarry asphalt and mineral waste for raw materials and energy. BPG is backed by InfraVia Capital Partners and Daiwa International Capital Partners.
About InfraVia Capital Partners
Founded in 2008, InfraVia is a leading independent private equity firm specializing in investments in fixed assets – infrastructure, critical metals, real estate and technology.
InfraVia focuses on robust companies that partner with management teams, entrepreneurs or industrial companies to develop their business and drive long-term value creation through active, hands-on asset management.
Headquartered in Paris, with a team of over 100 people and 100% partner-owned, InfraVia manages €16 billion in capital* and has invested in over 50 companies across Europe.
*Total capital raised.
About Daiwa International Capital Partners
Daiwa International Capital Partners was established in 2020 by Gregor Jackson and Daiwa
International Investments GK as an independent manager of high-quality infrastructure assets
quality in waste management, circular economy and energy transition.
You can read more about Daiwa International Capital Partners by visiting this website: www.daiwa-icp.com
